This was a case and a half! The mortgage completed 2 weeks ago and I have only just got over it! It was a rollercoaster and extremely stressful application. Possibly one of the most stressful I have dealt with in 14 years.
The situation
A lady got in touch in January to explain that she needed help obtaining a mortgage. The mortgage on the property had expired a while back. The lender had given the lady some time to pay the mortgage off or remortgage but that had not happened due to adverse and illness.
She had spoken to a couple of brokers before us. Apparently they ghosted the client after taking her on and confirming they could help. I can only assume it was a little too complicated or stressful for them. Although if that were the case, it should have been communicated so the lady knew where she stood.
We ran though the situation with the client and spoke to the lender who wanted to repossess. There was no repossession date booked in yet which was helpful and meant we had some time but we were unsure how long we would have.
What we did
We ran off to do the research and got back to the customer the following day with our recommendation. We advised of what we needed and then the application went in, all very quickly and within 48 hours
A few days later we heard back from the lender and they informed us of some additional documents we needed. They instructed the valuation as they were comfortable they would get to an offer.
Unfortunately we could not provided everything required due to a complication with another party. However in the meantime the customer instructed the legal work. Although this did not help obtain an offer, it did ensure things were moving forward.
We kept in contact with the lender to explain where everything was up to and ask if they could call off the bailiffs – but they refused as we were not far enough along.
After a couple of weeks we had the offer and the legal work was pressing ahead. We called the lender again, this time however they told us the bailiffs had been booked in and we had a firm date! Again, despite everything we could show, they refused to call off the bailiffs!
What the client did
The client to her credit got in touch with the courts. She asked us for some information to send to the judge. We put together an email explaining we had the mortgage offer, the valuation was fine and it was just down to the legal work. She also spoke to her conveyancer who said legal work was a formality but we would possibly miss the cut off date by a day or 2.
What happened?
Not a lot… We were quickly coming up to the repossession date and the lender despite assurances they would call off the bailiffs if we could evidence we were close to completion, would not call off the bailiffs! We and the conveyancer had done EVERYTHING! The money had even been requested from the lender. This process takes 5 days. We were told it would be there by 3pm on the day the bailiffs were due! The bailiffs were due at noon!
At 4pm on the Thursday (the day before repossession), the courts got in touch to say they had cancelled the bailiffs. They were happy we had provided enough to show it would be dealt with. The lender was really not happy!
The outcome
Honestly! This was a case where everyone pulled together to get the outcome we wanted. The conveyancer was an absolute hero and I think arguably had the client not had the conveyancer she had, this would not have been done. She went into “mum mode” and was shouting at people and getting things done.
The client did her bit by going to the courts. Everyone told her would be a waste of time and money. But again this also helped! And in fairness had this not been done the property would have been repossessed. We did not end up completing until 2pm (2 hours after the bailiffs were due!).
I think although we played a part where other brokers ghosted the client, this success story belongs to the client and her conveyancer, 2 formidable ladies who pulled it out of the bag when it mattered.