Countrywide Mortgages charges

adbee

Hiya,

We were roped into seeing countrywide mortgages by an estate agency. They told us they did not charge for there service and made all there money through commission. He seemed a nice enough guy so we decided to use them.

We got an offer accepted on a house, and put our mortgage application through with them, and then at the end of the meeting after spending nearly 3 hours there he decides to tell us that they have started to charge £99 as of two weeks ago, in trial areas which we are one of.

To be honest we didnt really question it at the time because it was on the spot, but after coming away and thinking about it, surely they can not make us pay it can they?

Thanks.

Senior_Paper_Monitor

What do the documents he will have given you (hopefully) say ....

Initial Disclosure Document

Client Agreement (if provided)

Key Facts (illustration) describing the mortage

Dom3663

I'm using Countrywide too...and I have a £99 fee payable also.
However my mortgage is with Nationwide ... and on their website it says

Booking fee
A non-refundable booking fee of £99 is payable upfront upon reservation of any product.

Can't post link, but its the first result on Google with a search of nationwide booking fee

Could this be the same £99 as me??

VIGILANT22

That's different to a broker's fee

Dom3663

Just seems coincidental thats its the same amount, it might be a fluke, but worth a try

VIGILANT22

Dom3663 wrote: »

Just seems coincidental thats its the same amount, it might be a fluke, but worth a try

If you read the post the adviser said first no charge for service (advice). then at next meeting they've introduced a trial fee of 99quid.........

Senior_Paper_Monitor

With this on their website (as of today) I think they are on rocky ground (but would like to hear back about those documents before expressing further opinion) ....

No Advice Fee Payable


As the market becomes increasingly complex, many mortgage brokers have decided to charge a fee of up to 1.5% of the mortgage amount for their advice.

Here at Countrywide Mortgage Services we believe you can have the best recommendation and advice service without charge. Countrywide Mortgage Services are dedicated to provide you with the high level of service you would expect from the UK's largest Mortgage Broker. Like other brokers, we receive a fee from the lender for arranging your mortgage

Contact us today to discuss your mortgage requirements - without obligation and without charges for our advice on 0800 988 7925. Alternatively request a callback for a Customer Development Representative to call you to arrange an appointment at a time most convenient for you.

.... I have no problem with brokers charging fees, but they must (morally and legally) ensure the client knows what is happening in this regard clearly and in advance.

shane42

the bloke at michael jones told me its a fee (he said up front) of £295
no thanks!

adbee

Senior_Paper_Monitor wrote: »

What do the documents he will have given you (hopefully) say ....

Initial Disclosure Document

Client Agreement (if provided)

Key Facts (illustration) describing the mortage

Ok, after a phone call to my mortgage advisor and then to the Countrywide complaint department, it appears that they are not willing to shift on this. They have gave me an email address if I want to put my complaint in writing.

I have a welcome pack from the first meeting with them, with a piece of paper with "Key facts about our Mortgage Services" . This says "What will you have to pay us for this service?" Below that there is a box with "No Fee" ticked.

There argument is, between our first meeting and the meeting where we put our application through they introduced a charge.

She then asked if we were told in the meeting about this new charge, I said that we were told, but after we had been there for around 3 hours and were about to put the application through.

We didnt even think about the charge that much at the time, it was 8:00 at night and had been there for 3 hours. Was when we got home and discussed it with our parents, they said that it wasnt right.

Ok just found "keyfacts about this mortgage". Under "What fees must you pay?" there is no mention of a £99 fee. It mentions the following:
Arrangement fee - £999
Telgraphic transfer fee - £30
Valuation arrangement fee - £130
Valuation Fee - £160
Legal fee payable to your conveyancer for acting on behalf of the lender - £117.50 (What is this?)
"You may have to pay other taxes or costs in addition to any fees shown here"

VIGILANT22

You decided to proceed on the basis of no fee as the IDD states........Stand your ground...are you young FTB'S...........bl**dy EA advisers/cowboys

adbee

VIGILANT22 wrote: »

You decided to proceed on the basis of no fee as the IDD states........Stand your ground...are you young FTB'S...........bl**dy EA advisers/cowboys

Yes we are young first time buyers, said to my Dad before that they must prey on us at the estate agency.

I am not normally naive, but the estate agency refused to put an offer through on an other house with them before I saw him.

He seemed a nice guy when we saw him, and after having an offer accepted on an other house with a different estate agents, we saw no harm in using him. He was fee free and we were happy with the mortgage deal he found us.