Re-mortgage Completion Problems

[G-W]

Having had my F@F settlement figure agreed at a creditors meeting on 26th June, I am still waiting for the re-mortgage to be completed. The solicitors appointed by my mortgage intermediary should have completed it on 11th July. I rang them yesterday and said to ring back this morning as it should be completed. Rang this morning and said the lenders have just released the monies and it should be completed today and I am to ring back this afternoon. I am worried I am going to get the same response. I have now had to pay this months mortgage payment to my current lenders and my iva paymentfor July.
The original delay was because my IVA company hadn't sent a letter to the lenders to say they have no objection to me re-mortgaging to finish the IVA. This was done last Wednesday so the solicitors tell me. So I dont understand the delay. Is this sort of activity normal?

[Oliver]

Having worked in the industry before I can say that this is not overly uncommon in the mortgage industry. Sounds to me like you are nearly there though. Keep at them and I'm sure everything will be completed soon.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[Adam Davies]

Hi
As Oliver says keep at them,you are paying for a service.........give them another call as there is no reason why it should not complete today as they have the money.
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[G-W]

Mortgage got completed on the 19th July; however the solicitors sent my previous lenders the balance they were quoted on the 4th July. This didn't include the payment I made on the 6th July. I now have to wait for two weeks to get this back from the previous lenders; apparently this is how long it takes their redemption team to finalise matters. No matter, the IVA is paid off now and I await the letter from my IP confirming this. Best Wishes.

[Oliver]

Sounds like things are being dragged out somewhat, sadly as I said before this is fairly "normal" for the industy. Keep your chin up and focus on the light at the end of the tunnel which your IVA will provide.

All the best.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[Adam Davies]

Hi
Thats good news and at least you have some money coming back to you.
Good Luck for the future
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp