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Bank vs Solicitor catch 22

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  • Bank vs Solicitor catch 22


    Midway through purchasing house, our solicitor is removed from mortgage panel of solicitors. Bank would not guarantee release of funds for mortgage, until we had exchanged contracts and then they would reinstate our solicitor on their panel.

    Solicitor would not risk our deposit and interest on the whole purchase price if we failed to complete by an agreed date, until we had confirmation in writing that funds would be released in time.

    Who is right and where do we go from here, as completetion date is this week and something needs to be sorted out as we're very frustrated.

    Thank you