redstone mortgages company

matt83uk wrote: »

Errr... That sounds like how A&L wash their hands clean of their CPP activation line.. My point being that if this person went to an IFA then that was their point of contact for sealing the deal, the IFA no doubt worked out the monthly payments and you'd have had a keyfact illustrating how much that would change depending on interest rate climbing (if not fixed)... does your payment tally with that? If an IFA just a figure cruncher at the point of sale, why not just use moneysupermarket mortgage tables or what not, go back to him and ask to help resolve this! or at least provide some clarity?

Because mis-calculation of interest is nothing to do with the IFA / Broker. The issue is with the lender.

"If an IFA just a figure cruncher at the point of sale, why not just use moneysupermarket mortgage tables" - Thats not what the point of a broker is.....we provide advice. Which moneysupermarket mortgage tables do not. In fact they provide very little information on which to make a decision other than rate.

You do realise that the only reason moneysupermarket have a comparison table for mortgages is so that they can make money by selling mortgage enquirys on to brokers, dont you?

Okay, but if the mortgage advisor "advised" him on this mortgage, let not pretend their was not a cut involved for this "advice", surely they should provide an aftersales service?

If the complexity of choosing, arranging and applying for a mortgage meant he decide to use an advisor then surely something as complexed as a interest calculation errors are equally best adviced by someone so knows what their talking about... Even if company XYZ provide a mathematical breakdown - will it be in plain english enough? Should such reply to a complaint not be best interpreted by a mortgage advisor?

Are you telling me the only value added service a mortgage advisor offers is in the selection process?

More to the point I'd be interested if the keyfacts illustration that the mortgage advisor presumably "adviced" you on matches what you were charged? If so... should it not of been down to the advisor to check the sums and terms of conditions match the figure in at least some respect.

I arranged my mortgage myself, however if I solicited the service of a mortgage advisor it would be to remove myself from the process of calculations and mapping my circumstances the best mortgage, and for I'd for sure hell expect that the keyfact illustration draft would be accurate.

If its a case of you are now being charged what you were originally proposed then fine..

If I took insurance through Swinton who passed it on Admiral and later found things were setup wrong and Swinton didn't notice, I'd be back down the local Swinton office and get them to sort it because dealing with a local office (mapping this to an mortgage advisor) is easier than the whole big corporation mess, make them work for the pennies...

I'm perhaps ignorant, but I consider a mortgage advisor to offer a service, and you only know how good a service is when things go wrong..

If someone tells me now that a mortgage advisor explicitly states that his advices applies only to the selection process and clearly states all errors in figures and omissions are the issue of the providing party then I retract everything..

And perhaps in this instance the mortgage advisor did check everything, did his own sums using the proposed APR/AER and T&Cs to check they match etc.. and couldn't possibly have seen this, so then yes - its not his fault (and OP a bit harsh - understand people react when angry though guys), but should the mortgage advisor not advise on your standpoint, draft the complaint and help you interpret the complaint?

dannyonebox wrote: »

its a 2 year fixed rate mortgage arranged by a mortgage broker ,we had a key facts illusration that told us our rate, we signed for the mortgage with a company called beacon homeloans which 1 week after signing was passed to redstone mortgages who 6 months down the line have said oh by the way really sorry but we calculated your mortgage wrong /no figures sent to me just a simple letter saying in a nice polite way that were adding thousands to your mortgage, these companies prey on people messing up thier mortgage so they can put more money and costs and if your a good regular payer like myself then they have to resort to other means of exstorting money out of you. if ive touch a nerve with some of the mortgage advisers then one says tuff youll get over it, just think of the next hit walking through that door $$$$$

FYI....what do you think a "hit" is? You realise that on average a lot of us (especially those of us up north) only earn maybe £300 per mortgage and with completing on average three mortgages a month, we aren't rolling in cash like so many people perceive. You clearly have a mis-conception about mortgage brokers. The reason you are getting negative comments is becauase of your rudeness and your attitude.

I gave you some advice in my first post on this thread. It would seem you have failed to follow that advice, or anyone elses for that matter, in place of persuing your cruisade against mortgage brokers. If you spent more time following the correct complaints procedure, with your LENDER, you might actually get somewhere. I will re-state what I said.....write to them, ask them for the proof in form of figures of what has been done incorrectly, then you can actually sit down and have a look at what has gone wrong. The LENDER made a mistake, not your broker. You might not like that as you are looking to lay blame, but thats how it is.

I find it laughable the number of posts about how we are all rolling in cash. The sore truth of the matter is that mortgage brokers are going bust left right and centre and those that are still surviving are doing so by the skin of thier teeth. It is a sad shame, as ultimately this will lead to less competition, for YOU, the consumer, as lenders will be doing more and more business direct, without the need to price competitively. So take a step back, think for a second and instead of continuing this pointless cruisade, do something about it that will actually help you.

P.S - I get paid in Steling, not dollars.

Now get that letter written....We will be more than happy to advise further once you have a reply from them with the figures / reasons why this has happened.