Home› Advice

Mortage process getting me down..

Kitt 2000Kitt 2000 Posts: 1,108
Forum Member
✭✭✭
in Advice #1
My late mother left myself and my brother equal share in her house..

i live in the house and I have met somebody and settled down..

I started the ball rolling at the start of July to buy his half.

I got a mortgage deal to buy him out 53k half the value of the house after having several valuations this was a fair price..

However just when its finally looking like the Completion is on the horizon for 29th November,,

Their is a stalemate issue.

My brothers solicitors want the money handed over before they give me sole ownership on the deed, but my solicitor won't hand the money until I'm sole owner on the deed..

I'm really starting to fear that this whole deal is going to fall through…

Has anybody been in this sort of situation ? if so what happened??

Also my brother is still dictating that I cannot have any of my girlfriends family staying in the house once its mine..
«134567

Comments

  • trayhop123trayhop123 Posts: 886
    Forum Member
    ✭✭
    #2
    once it's yours you can have whoever you want in it
  • davidmcndavidmcn Posts: 12,108
    Forum Member
    ✭✭
    #3
    Kitt 2000 wrote: »
    My brothers solicitors want the money handed over before they give me sole ownership on the deed, but my solicitor won't hand the money until I'm sole owner on the deed..

    Not sure whether somebody's confused about the process, but these things are meant to happen simultaneously (that's part of the reason solicitors are involved, rather than the parties having to trust each other!).
  • Kitt 2000Kitt 2000 Posts: 1,108
    Forum Member
    ✭✭✭
    #4
    davidmcn wrote: »
    Not sure whether somebody's confused about the process, but these things are meant to happen simultaneously (that's part of the reason solicitors are involved, rather than the parties having to trust each other!).

    Well thats what I thought..
    But 5 months since I got the Mortgage offer sorted and still it goes on…

    Also i think as it was our parents home, brother thinks he can still have a say in things when its mine..
  • trayhop123trayhop123 Posts: 886
    Forum Member
    ✭✭
    #5
    exactly as above ,,,,,,,,,,, solicitor's are the mediator's so that this sort of personal stalemate doesn't happen
  • mred2000mred2000 Posts: 10,050
    Forum Member
    ✭✭
    #6
    Your solicitors sound like argumentative brothers...
  • Kitt 2000Kitt 2000 Posts: 1,108
    Forum Member
    ✭✭✭
    #7
    mred2000 wrote: »
    Your solicitors sound like argumentative brothers...

    Exactly..

    I've paid £400 in total for them to prat about..
    I'm sure this could have been done in half the time...
  • bart4858bart4858 Posts: 11,427
    Forum Member
    ✭✭
    #8
    Kitt 2000 wrote: »
    Well thats what I thought..
    But 5 months since I got the Mortgage offer sorted and still it goes on…

    Also i think as it was our parents home, brother thinks he can still have a say in things when its mine..

    Five months is far too long. You need to chase up your solicitor and find out exactly what the hold-up is. These things shouldn't take more than a couple of months. Make sure also you get vacant posession (allowing for the fact that you will come with the property..)

    And make your brother whatever promises are needed to get him to sell (but don't put anything in writing!). Once the house is yours, change the locks.
  • tartan18tartan18 Posts: 2,249
    Forum Member
    ✭✭✭
    #9
    If completion is due on 29th, the Deed is usually signed by both parties by now. As yours isn't a normal sale/purchase, once your money reaches your brother's solicitors on the due date, they will then have him sign the Deed if not already done, and then return it to your solicitors, who will then register the Deed and the property is then in your name. He then has no say in what you do with , or in the property. There will be clauses in the contract to ensure that this is done.
  • mred2000mred2000 Posts: 10,050
    Forum Member
    ✭✭
    #10
    Is it really that your brother isn't signing the deed over and his solicitor is covering this in flowery language?
  • tartan18tartan18 Posts: 2,249
    Forum Member
    ✭✭✭
    #11
    mred2000 wrote: »
    Is it really that your brother isn't signing the deed over and his solicitor is covering this in flowery language?

    Exactly. I think it is him that has been pratting about, asking his solicitors to make unreasonable demands. He's paying them, and although they might have told him he hasn't got a cat in hells chance, they have to act on his intructions
  • davidmcndavidmcn Posts: 12,108
    Forum Member
    ✭✭
    #12
    Kitt 2000 wrote: »
    Well thats what I thought..
    But 5 months since I got the Mortgage offer sorted and still it goes on…

    Also i think as it was our parents home, brother thinks he can still have a say in things when its mine..

    When he says he wants the money handed before before giving you ownership (which can't happen anyway because the mortgage company needs you to have ownership before they'll release the money...) - how long before is he talking about? Is he expecting to sit on your money while he has a think about it, or is this just quibbling about the minutiae of the completion process?
  • Kitt 2000Kitt 2000 Posts: 1,108
    Forum Member
    ✭✭✭
    #13
    davidmcn wrote: »
    When he says he wants the money handed before before giving you ownership (which can't happen anyway because the mortgage company needs you to have ownership before they'll release the money...) - how long before is he talking about? Is he expecting to sit on your money while he has a think about it, or is this just quibbling about the minutiae of the completion process?

    Well this is what I;m not sure of…

    Its his Solicitors that want the money first, but if he's instructed that I don't know…

    Of course My girlfriend had been paying been paying him £50 a week rent…

    As this business has taken so long, recently she has moved out until the house is mine so she don't have to pay him rent anymore..
  • davidmcndavidmcn Posts: 12,108
    Forum Member
    ✭✭
    #14
    Kitt 2000 wrote: »
    Well this is what I;m not sure of…

    Its his Solicitors that want the money first, but if he's instructed that I don't know…

    Ok, might just be them wanting to hold the funds during completion, which needn't be that big a deal. Unless you all lock yourselves in a room for a completion meeting then someone has to trust each other with the money and/or deeds etc.

    I expect it can be sorted out.
  • Kitt 2000Kitt 2000 Posts: 1,108
    Forum Member
    ✭✭✭
    #15
    davidmcn wrote: »
    Ok, might just be them wanting to hold the funds during completion, which needn't be that big a deal. Unless you all lock yourselves in a room for a completion meeting then someone has to trust each other with the money and/or deeds etc.

    I expect it can be sorted out.

    I hope so and soon…
    Want this doing before Chrsitmas, can't do any decorating or anything as things stand..
  • bart4858bart4858 Posts: 11,427
    Forum Member
    ✭✭
    #16
    Kitt 2000 wrote: »
    Well this is what I;m not sure of…

    Its his Solicitors that want the money first, but if he's instructed that I don't know…

    Does you brother want to sell (and get £53000) or not? If he does, then he should get on to his solicitor and find out what the problem is. And perhaps change solicitor.

    Or is he thinking of getting the cash first, and then drawing out the rest of the process as long as possible while he carries on living there? That's not how things work.

    (And why the £50 pw rent? Is that supposed to be half of £100, since the house is half yours? If so, then it's a lot of money for a house-share! Especially a house apparently valued at £106000, or just over.)
  • gasheadgashead Posts: 13,809
    Forum Member
    ✭✭
    #17
    OP - have you posted about this before? If not, then someone posted a very similar problem relatively recently (recently enough for me to remember anyway), i.e. parties inherited a house, one party's g/f pays rent to the other, party being bought out still wants say in house once he's sold his share. If this wasn't you, might be worth trying to see if you can dig it up, it may be helpful.
  • jsmith99jsmith99 Posts: 20,382
    Forum Member
    ✭✭✭
    #18
    The solicitors should be used to this - it's the same situation which occurs when someone buys a house using a loan secured by a mortgage.

    The buyer is getting the funds because the house is security for the loan. But they don't actually own the house (the security) until they've handed over the money (the loan secured by the house they don't own yet).

    Despite the complexity, solicitors do this many times a day.
  • lozengerlozenger Posts: 4,881
    Forum Member
    ✭✭✭
    #19
    gashead wrote: »
    OP - have you posted about this before? If not, then someone posted a very similar problem relatively recently (recently enough for me to remember anyway), i.e. parties inherited a house, one party's g/f pays rent to the other, party being bought out still wants say in house once he's sold his share. If this wasn't you, might be worth trying to see if you can dig it up, it may be helpful.

    Yes it was this one
    http://forums.digitalspy.co.uk/showthread.php?t=1848751

    I cant advise on the solicitors situation, but your brother hasnt got a say in anything to do with the house once it's sold to you.
  • Kitt 2000Kitt 2000 Posts: 1,108
    Forum Member
    ✭✭✭
    #20
    gashead wrote: »
    OP - have you posted about this before? If not, then someone posted a very similar problem relatively recently (recently enough for me to remember anyway), i.e. parties inherited a house, one party's g/f pays rent to the other, party being bought out still wants say in house once he's sold his share. If this wasn't you, might be worth trying to see if you can dig it up, it may be helpful.

    Yes I di think it was around August or early September, which goes to show how long this has been going on..

    My solicitor is sending me a form.. Rs… something or other I can't remember..

    I have to sign it, and so does my brother..

    Assuming he will sign it or games over...
  • mred2000mred2000 Posts: 10,050
    Forum Member
    ✭✭
    #21
    Tell your brother that if he doesn't sell up, you'll sell your half to Billy "The Butcher" Brocklehurst, notorious local crime lord who wants to use half of the house as a brothel.
  • Kitt 2000Kitt 2000 Posts: 1,108
    Forum Member
    ✭✭✭
    #22
    mred2000 wrote: »
    Tell your brother that if he doesn't sell up, you'll sell your half to Billy "The Butcher" Brocklehurst, notorious local crime lord who wants to use half of the house as a brothel.

    Lol..

    Trouble is I can't even sell up without him agreeing so I'm stuffed..
  • mred2000mred2000 Posts: 10,050
    Forum Member
    ✭✭
    #23
    Kitt 2000 wrote: »
    Lol..

    Trouble is I can't even sell up without him agreeing so I'm stuffed..

    Seriously, if it were me I'd be onto my solicitor daily asking them for detailed updates and why they're not just getting it sorted out with the other solicitor.
  • lozengerlozenger Posts: 4,881
    Forum Member
    ✭✭✭
    #24
    Kitt 2000 wrote: »
    Lol..

    Trouble is I can't even sell up without him agreeing so I'm stuffed..

    To be fair, you wouldnt want him selling to Billy the Butcher either so this is to protect both of you. Trouble is you're stuck with a stubborn sibling so not much you can do other than hound the solicitors and appeal to his better nature (assuming he has one... :D)
  • mred2000mred2000 Posts: 10,050
    Forum Member
    ✭✭
    #25
    lozenger wrote: »
    ...and appeal to his better nature (assuming he has one... :D)

    Or get Billy The Butcher to make your brother disappear... or just break his legs...

    Oh, come on, we've all had moments with our siblings when we've wanted Billy The Butcher to break their legs, haven't we?? :D
  • Kitt 2000Kitt 2000 Posts: 1,108
    Forum Member
    ✭✭✭
    #26
    lozenger wrote: »
    To be fair, you wouldnt want him selling to Billy the Butcher either so this is to protect both of you. Trouble is you're stuck with a stubborn sibling so not much you can do other than hound the solicitors and appeal to his better nature (assuming he has one... :D)

    Well its so frustrating…

    His solicitor and him will not remove him from the deed they both say he has to have the money first…

    My solicitor want the name removed first..

    Its a stalemate that I can't see a way out of..

    There is no way my brother is going to sign a form for him yo be removed before he gets the money.

    And there is no way I can make my solicitor give him the money first…
Sign In or Register to comment.