Can we claim back our mortgage broker fees?

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Comments

  • kingstreet
    kingstreet Posts: 38,740 Forumite
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    As mentioned, there are many lenders which would have no problem with this and unfortunately, Platform obviously isn't one of them.

    Ask your broker to get you an alternative now as you are not going to sit around for three months waiting for Platform to love you again.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • ACG
    ACG Posts: 23,714 Forumite
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    Where has this 14 days come from?

    As a broker, I only charge my fees on full offer, my view is that you come to me for a Mortgage so I should only be charging if I get you a Mortgage. Other brokers views are that they have had to do work submitting and so they should get paid. I suppose there is no right way of doing it.

    If the brokers ToB says no refunds then I am not sure there is much you can do. You can not agree to terms but then when it does not go how you planned ask for a refund.

    Although I think you could argue that Platform were the wrong lender under the circumstances. If it is clear from the bank statements he went over his overdraft then it should have been picked up before applying and a different lender chosen - I used to work for Co-op and they are quite strict.

    I agree with Kingstreet, there are probably other lenders who will do it subject to the finer details. Platform are never going to be a last chance saloon.

    Im not sure if you are entitled to your money back without seeing the paperwork, but I think assuming they have made an error with the bank statements you stand a good chance of getting it back if you push it.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Futuristic
    Futuristic Posts: 1,127 Forumite
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    ACG wrote: »
    Where has this 14 days come from?

    I assume he thinks cooling-off period applies here like other services.
  • Alexia123400
    Alexia123400 Posts: 12 Forumite
    Yes I was referring to the 14 day cooling off period and if this was applicable, however from these responses I think not in this case.
    That's interesting to hear we may have been misadvised to go with platform under the circumstances and the over drawn bank statements should have been picked up on.
    Thanks again for the advice and info :money:
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Alexia123400 wrote: »
    It was due to a direct debit being set up on the wrong date which took him over his limit

    Direct debits are notified at least 10 days in advance. Lenders will view the matter as poor personal financial management. Not an ideal situation when one is applying for a mortgage.
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