Issue with bank security notified 2 years after home purchase - advice needed

[BigBoots82]

Evening all. I'd appreciate any thoughts or advice folks have on the following matter.

Roughly two years ago my wife and I purchased our first home and used a local solicitor to assist with the conveyancing process. A month ago we received a letter from the law society to say our solicitor had been struck off, the law society had taken possesion of all files including ours and they would be sharing this file with our lender for review.

This week we received a letter from the bank to say they'd reviewed the file received and noted the following matters which require resolution:
- Title to the property has not been registered to us
- The bank's security has not been registered
- The charge a lender had over the property in the previous owner's tenure has not been removed
- Missing documentation connected with building and compliance regulations

To say we are shocked and annoyed is an understatement.

The bank have asked us to appoint a new solicitor to resolve the issue. The law society have said they will also share a copy of the file with us.

Is ending up having to pay solicitors fee twice the least of our worries?

What would you do in our position?

 

[Thirsty]

IANAL

The one bit that would worry me is this one:

The charge a lender had over the property in the previous owner's tenure has not been removed

The other items are annoying but can be dealt with.

I don't know what recourse you have in regards to the first dodgy solicitor; I think I'd park that for now and get someone to review the file and let you know what needs to be done.

 

[BigBoots82]

Thanks Thirsty. Hoping to get a meeting set up with a new solicitor asap.

Just spotted this also on the law society website:

"
I have to pay a new solicitor to finish the work, who will pay my new solicitor’s fees?
You can claim legal fees from us for your new solicitor if you:

• Are claiming for missing money;
• have already paid your previous solicitor to do the work; and
• now have to go to a new solicitor to get them to finish the work for you.

For example, if you have a conveyancing transaction that your new solicitor must finish and they have to do the typical work, we will pay them the current guideline fee. If they have to do less than the usual work, we will pay them a smaller fee."

 

[Thirsty]

I have to pay a new solicitor to finish the work, who will pay my new solicitor’s fees?
You can claim legal fees from us for your new solicitor if you:

• Are claiming for missing money;
• have already paid your previous solicitor to do the work; and
• now have to go to a new solicitor to get them to finish the work for you.

For example, if you have a conveyancing transaction that your new solicitor must finish and they have to do the typical work, we will pay them the current guideline fee. If they have to do less than the usual work, we will pay them a smaller fee."

That sounds hopeful; it might all get sorted easier than you think.