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want to get my fee refunded.....

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Hi guys ,

I went to an financial adviser that is based within an estate agents in order to try and sort out my mortgage as we were coming to the end of the fixed rate and wanted to have one mortgage payment as appose the current 2 payments - one to the mortgage and one to the 2nd charge.
we paid £299 for her services and 3 1/2 months later we are now without a mortgage as the delays caused by them have basically taken too long that now our house value has dropped and the offer is £4k short of what we needed. (they lost bank statements and advised we wouldnt need original statements and we did all took time around 4-5 weeks delay at least)

We have complained to the manager who said he wont refund it but gave us the head office to put in writing,. do any of you guys have any advice of what i should put in the letter or if you think this will be honoured?
Thanks

Comments

  • betmunch
    betmunch Posts: 3,126 Forumite
    There should be a section on how to complain on the IDD that your were given in your first meeting with the Mortgage Advisor.

    In your letter you should put only factual information about what has happened.

    You will need to prove that you house was worth the required ammount when you applied, and prove that the delays were caused by the company rather than yourself.

    Even then your facing a tough battle in my opinion. However if you are only trying to get your £299 fees back, they my pay out to stop the complaint escalating, so make sure you tell them you will take the complaint to the Ombudsman if it is not resolved to your satisfaction
    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.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    You need to establish that the adviser used was to blame for the delays. If you can convey what she did/didn't do that is where your case starts.

    It is possible that the lender is the source of the delay which isn't the fault of the adviser. In this case the adviser has spent time on your case and the fee will still be payable.
    our house value has dropped and the offer is £4k short of what we needed. (they lost bank statements and advised we wouldnt need original statements and we did all took time around 4-5 weeks delay at least)
    How do you know your house value dropped in such a short period of time?
  • micaleff
    micaleff Posts: 137 Forumite
    our house was on the market we then decided to stay put and remortgage instead so we had a valuation 4 weeks before the start of proceedings and it was up for 5k more than the offer we wanted!
  • micaleff
    micaleff Posts: 137 Forumite
    the whole process started in early Sept and just been withdrawn 2 weeks ago....
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    edited 21 December 2010 at 2:13PM
    micaleff wrote: »
    our house was on the market we then decided to stay put and remortgage instead so we had a valuation 4 weeks before the start of proceedings and it was up for 5k more than the offer we wanted!
    By an estate agent, or a lender?

    If it's the former, it's a valuation that means diddly squat. Nobody should pay the asking price in the current market.
  • 'Opinions' has probably hit the nail on the head here - if the original valuation is one from the estate agent and the second is the one from the lenders surveyor then the argument is over, or at least is reduced to 'the paperwork processing was sloppy'.

    If its any consolation (or at least explanation), of the four applications we put in last week - with no delays - three have come back with considerable downvaluations and I'm waiting with baited breath for the fourth !
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • TMSL
    TMSL Posts: 93 Forumite
    I am not commenting on the right or wrongs here, but was the adviser a connells or sequence adviser.?
    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.
  • ILW
    ILW Posts: 18,333 Forumite
    What exactly did the advisor do wrong or fail to do?
  • betmunch
    betmunch Posts: 3,126 Forumite
    TMSL wrote: »
    I am not commenting on the right or wrongs here, but was the adviser a connells or sequence adviser.?

    I was curious about that.

    The conspiracy theorist in me reckons it was!
    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.
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