mortgage switch - qualification on title

worker bee

Am in final stages (fingers crossed) of switching mortage. We have loan approval.

Why would our solicitor need to confirm qualification on title? This is a house we have owned (with a mortgage obviously) for a decade already. Who is asking for this? The lender we are currently with has never mentioned it. It did not come up when we originally bought the property. The bank we are switching to have not asked us about it. They may have asked our solicitor.

I have looked up what the term means and it seems that it is necessary when there might be a query over the title on the property.


QUALIFICATION ON TITLE
Title may have to be qualified to a Lender when it is deemed that a title is not good and marketable title. If qualifications are necessary it is open then to the Lender to accept the qualifications on title or reject the proposals or impose such conditions as they see fit before granting or refusing the loan.

Liam D Ferguson

Are you using the same solicitor as you did when you bought the house?

worker bee

Yes, which is why I didn't think this was necessary.

Liam D Ferguson

I'm not a solicitor but I can think of a few possibilities: -

• Your solicitor did clarify the qualification on title the first time around but as that was something between the solicitor and bank, you weren't told.
• The previous lender didn't ask your solicitor about the qualification on title but the current one has.

I guess the only way to get an answer is to ask your solicitor.

worker bee

Thanks for that.

Am pretty sure it was done first time around and am wondering if it is strictly necessary this time. Solicitor (who is meant to be working for us) seems to be so much more stringent than the bank we are moving to.

We have met all the new bank's criteria regarding loans, income, payslips, expenditure etc and are finding the runaround and added expense from our own solicitor a little hard to take now.

Liam D Ferguson

Sounds like your solicitor isn't that great at communicating. There may well be a perfectly simple explanation as to why this is required this time around. But it sounds like it hasn't been explained to you, the customer. What has your solicitor said when asked?

worker bee

They're being difficult. Bank keep saying they are ready to switch and can't understand why solicitor is stalling.
Solicitor proving difficult to track on email, phone and in person.

Giving vague answers about due diligence etc but not answering properly when asked if each action/requirement is specifically necessary for this transaction.

Will ride it out and see then about querying further.
thanks