Hi all,
Three weeks ago, I was told that on the Friday I would be able to collect the keys to my new house, I was so excited and happy, I had a lot of purchases ordered for delivery. On the day I was to receive my keys I got the bad news that the closing searches found that there was an outstanding mortgage with 25 years from EBS which has since gone bust on the house I want to purchase - This mortgage is not from the current sellers, it belongs to previous seller.
Since I have gotten more information from my solicitor. I have found out that the seller's solicitor knew about this all along - for 25 years. Sellers solicitor has lost the original document stating the mortgage from EBS had been paid off/vacated. The sellers solicitor has a copy of the document stating the mortgage has been paid, but for the land registry the copy is not sufficient. My solicitor said he had a condition withe the bank before I could get the keys that I would be registered as the owner on the new land registry system - without the original this cannot happen.
The sellers solicitor will not provide an undertaken letter saying the mortgage has been paid off, and my solicitor will not try to get the undertaking either.
I do not know what to do in this situation, I have paid my home insurance in full for the year. My own mortgage repayments are due to start coming out soon, my rent is coming out also, and there is no timeline as to when this will be fixed.
I have signed contracts, but seller hasn't, because my solicitor will not allow it. My solicitor has gotten my transfer back from the sellers solicitor. Did my solicitor know about this all along? He said he only found out on the closing searches.
Any advice appreciated.
Three weeks ago, I was told that on the Friday I would be able to collect the keys to my new house, I was so excited and happy, I had a lot of purchases ordered for delivery. On the day I was to receive my keys I got the bad news that the closing searches found that there was an outstanding mortgage with 25 years from EBS which has since gone bust on the house I want to purchase - This mortgage is not from the current sellers, it belongs to previous seller.
Since I have gotten more information from my solicitor. I have found out that the seller's solicitor knew about this all along - for 25 years. Sellers solicitor has lost the original document stating the mortgage from EBS had been paid off/vacated. The sellers solicitor has a copy of the document stating the mortgage has been paid, but for the land registry the copy is not sufficient. My solicitor said he had a condition withe the bank before I could get the keys that I would be registered as the owner on the new land registry system - without the original this cannot happen.
The sellers solicitor will not provide an undertaken letter saying the mortgage has been paid off, and my solicitor will not try to get the undertaking either.
I do not know what to do in this situation, I have paid my home insurance in full for the year. My own mortgage repayments are due to start coming out soon, my rent is coming out also, and there is no timeline as to when this will be fixed.
I have signed contracts, but seller hasn't, because my solicitor will not allow it. My solicitor has gotten my transfer back from the sellers solicitor. Did my solicitor know about this all along? He said he only found out on the closing searches.
Any advice appreciated.