Hamilton/HFC/Endeavour.

marshallka

http://bizzy.co.uk/uk/04263274/1-click-home-loans



Company number: 04263274

marshallka

di3004 wrote: »

Thank you Marshallka

I will contact Chelsea tomorrow, hoping they will give the details, I still have the account number, I am finding more paperwork all the time that I missed before with it being so much scrappy paperwork.
It makes me wonder now if I did speak to EPF before getting to Click, as they arranged what you call a mortgage packager which also may explain the different dates on the agreement, ie: the lenders copy and our copy.

So will see what that letter from the adjudicator brings, which we assume will be one they will not bother with due to lack of evidence and move on to this if that fails.

Wonder what info HFC/Endeavour have sent them? (if any).

Thanks again on this, I will keep you posted and I do hope the FOS will not ignore this, not just for myself but for others in the same position.;)

I cannot do anything with mine now and just by getting back your PPI does not make things right either when these firms are getting away with OTHER things. Things like this need exposing for others - too blummin right!!!

I know that we rang FIrtplus for our loan and and we did not have any other dealings with anyone. They are just using these brokers for some reason and we will get to the bottom of yours. Our loan was sold by FIrstplus and so was our PPI and they actually have a fake wage address amongst their sar for my husband. I can only think that we did not have enough income to get the loan in the first place for them to do this but all they keep saying is that they will adjust their records IF they have done this by mistake!!!!

Going to investigate these mortgage packagers thingies..... not heard of them TBH but will be back with anything I can find out.

di3004

marshallka wrote: »

I cannot do anything with mine now and just by getting back your PPI does not make things right either when these firms are getting away with OTHER things. Things like this need exposing for others - too blummin right!!!

I know that we rang FIrtplus for our loan and and we did not have any other dealings with anyone. They are just using these brokers for some reason and we will get to the bottom of yours. Our loan was sold by FIrstplus and so was our PPI and they actually have a fake wage address amongst their sar for my husband. I can only think that we did not have enough income to get the loan in the first place for them to do this but all they keep saying is that they will adjust their records IF they have done this by mistake!!!!

So annoying isn't it though!!!:mad:

Yes they certainly do need exposing alright, how many more have they let down!!

I honestly can't remember if we called Endeavour at first then they got Click to contact us or the other way round, but going by the paperwork the agreement of the lenders was something like 5th July where the application was issued on the phone by Click on the 8th, and we signed on the 16th and our signed agreement 30th.
Wish I knew then how all this worked out.
And FirstPlus!!!! makes you feel so mad!!!

I had never heard of Mortgage Packagers before, but just reading on Wiki they are more like middlemen, but more work is involved.
I note that standard brokers would not do all the work like a mortgage packager agent would do, for eg, ref from employer/HR dept etc.
And do they still use them I wonder?

There's not a great deal of info about mortgage packagers when googling, or I may have missed something, but this needs to be brought into the open, in hope the FOS can see clearly what is happening.

http://en.wikipedia.org/wiki/Mortgage_packagers

Mortgage packagers put together a complete case for a mortgage loan before it is submitted to the lender, reducing the risk of rejection from the lender. The services of a mortgage packager are used by a mortgage broker and cannot be accessed directly by members of the public. A packager is also able to get exclusive mortgage deals directly with lenders that are not available to the individual and smaller brokers.
Normally when a buyer applies for a mortgage, the buyer spends time completing mortgage application forms with a mortgage broker. The mortgage application forms are then sent directly to a lender on the buyer's behalf.
Once the lender is in receipt of the application and supporting paperwork they start to process the application they have received, this includes applying for the buyers employer reference, accountant references and a mortgage valuation.
With this process, clients run the risk of the lender rejecting the case if the lender is not happy with everything they have been presented with leaving the buyer to start the whole process again.
However, with a mortgage packager, the case is assessed and underwritten before it gets to the lender, reducing the risk of rejection. Should the application no longer be suitable for the lender in question, there is also the facility to switch the application to a different lender without the need of completing a new application form.


Marshallka, this may be one for you for the Resouces thread x

di3004

I am so determined on this now, in light of this, but going back to the adjudicator on his letter confirming he could not establish a relationship, surely they would have already tried to request for info from Endeavour.
Maybe its one the FOS have not picked up on when it comes to using these mortgage agents.

I may email the adjudicator and ask if he could email me the outcome, when he says a letter will be sent out early next week, in his case its always weeks later lol, but can't wait that long, need to know where to go on this now -which seems to be going back to Hamilton yet again.
If only I'd known about mortgage packagers before, maybe they are no longer used and that is why we don't hear much about them.

Dunstonh if your about, please do you have any info on Mortgage Packagers/Agents? cheers.

marshallka

di3004 wrote: »

I am so determined on this now, in light of this, but going back to the adjudicator on his letter confirming he could not establish a relationship, surely they would have already tried to request for info from Endeavour.
Maybe its one the FOS have not picked up on when it comes to using these mortgage agents.

I may email the adjudicator and ask if he could email me the outcome, when he says a letter will be sent out early next week, in his case its always weeks later lol, but can't wait that long, need to know where to go on this now -which seems to be going back to Hamilton yet again.
If only I'd known about mortgage packagers before, maybe they are no longer used and that is why we don't hear much about them.

Dunstonh if your about, please do you have any info on Mortgage Packagers/Agents? cheers.

Di, makes me wonder if by exposing all of this about how these lenders/brokers/agents work would bring about quite a few other type claims. After all surely if there was any fraud going on then we would never have had the loans in the first place as they misrepresented their positions to us all.

di3004

marshallka wrote: »

Di, makes me wonder if by exposing all of this about how these lenders/brokers/agents work would bring about quite a few other type claims. After all surely if there was any fraud going on then we would never have had the loans in the first place as they misrepresented their positions to us all.

Marshallka, I was thinking exactly the same as you more or less, it defo needs to be looked into more for sure, and if this is the case, they should open rejected cases as such, and I have just started a thread in hope someone will know about these agents.

https://forums.moneysavingexpert.com/discussion/comment/44971210#Comment_44971210

di3004

The clause that the adjudicator pointed out, on the t&c's of the loan, that Endeavour state they will not be liable if using a credit broker on your own free will (something along those lines), but credit broker??? these are not the same as a Mortgage Packager Agent, which they fail to confirm this to us.

However, it may be looked into under a different light now (wishing thinking) lol.

di3004

Did find a little more info, but not a lot really, although it does explain the role.

http://www.leabeven.com/property/finance/mortgage_packager.htm

What is a mortgage packager

A mortgage packager is slightly different to a mortgage broker. They have the advantage of being able to put together the whole application for your mortgage BEFORE the lender sees it.

Normally when you apply for a mortgage, you fill out a form with the mortgage broker, and it then gets sent to the lender. Then the lender processes the form, applying for your employer reference, accountant references and your survey - as well as wanting to view your statements and finances. This process runs the risk of the lender rejecting you if they are not happy with everything they find.




With a mortgage packager they actually do all those things BEFORE it gets to the lender - reducing the risk of regection. They also are usually able to get special deals and exclusive packages not available to the individual and smaller brokers. In the current climate it is certainly very useful to be able to see the valuation before it goes to the lender, in light of the fact that buy to let lending normally rests on the rental valuation.
Where clients are convinced that the rental or value should be a higher figure than that quoted by a surveyer. It gives an opportunity to get comparable properties and submit a case to the surveyer who may then be able to increse the figures. Of course, if the case goes straight to the lender, then a lower amount would normally be offered. Genrally using a mortgage packager saves a good deal of time and effort on everyones behalf and makes the process alot smoother.

di3004

A little info, post 2 on this link......from this site.

https://forums.moneysavingexpert.com/discussion/237199

Think I will ask about this on the loan thread as well, expand a little lol.

di3004

Posted on the loan thread, feel free to post as well.:D

https://forums.moneysavingexpert.com/discussion/comment/44972538#Comment_44972538