The Nightmare Mortgage Broker - Is there anything I can do?!

bouchard_2

Hi,

I have recently had a very painful re-mortgage experience with a broker from Dot Financial (part of Townends Estate Agenst) and I would like your opinions/advice on whether I can receive compensation.

Basically, I moved at the beginning of January, but my 'old' mortgage wasn;t due for renewal til start of Feb, so we he organised a 'bridging loan' which all went smoothly and made sense. Upon moving, we then got going with the remortgage and I chose the same broker, considering he was ok initally and had knowledge of the current situation.

A couple of weeks later, after provisional agreement of the new mortgage, I signed the final re-mortgage forms, in his office, but noticed that the 'previous address' was on the forms.
Thus, I pointed this out as a concern, but the broker was adamant that all would be ok and he would amend the forms.

Two weeks later, after the 'intended mortgage completion', I then received a phone call from the solicitors who were managing the case.
They mentioned that there had been a hold-up because the previous address had been used, so new forms had to be raised.

Naturally I was livid and tried contacting the Broker... But no response.
This was now costing me £63 per day (interest, due to the SVR)
I resigned and resubmitted the forms, but the solicitor said completion would be 7-10 days later.

Still no telephone response from the Broker....
A few days later he replied to a 'professional' e-mail from myself and began stating that the time-lines were perfectly acceptable and that he told the lender of the 'change of address'.

Anyway, things got a bit worse, when on the day of the 'new completion' there was a "shortfall" in the sums, as the Broker had failed to calculate SVR, exit fees etc.

But, instead of calling me to discuss, he/solicitor starting procdures for a "materials request form" to basically change the amount required.

I heard about this the same day (NOT from the broker, but the solicitor) and asked if I could bridge the gap myself, because a new materials request would take another 7-10 days and cost +£500 in interest!!!

Again, I had to wait another day (another waster of money) because I 'missed the cut-off' but eventually got things sorted, albeit taking a huge financial one-off hit of over £1000.

Still, the Broker didn't even respond, apologise or even acknowledge that the case was now closed.

I am extremely bitter and would like your advice, as I don't think anyone should have to put up with this kind of negligence and incompitence.

Is there anything I can do?
(I have written to Dot Financial Complaints Dept. but no repsonse!)

Anybody have any advice???! Pleaseeeeeeee!

Thanks

madbazoo

Their website says

dot financial services is the trading name of Townends Financial Services Ltd, Latour House, Chertsey Boulevard, Hanworth Lane, Chertsey, Surrey KT16 9JX which is authorised and regulated by the Financial Services Authority (FSA). Townends Financial Services FSA regulation number is 305221. The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.

You should be able to take up your case with the FSA. See this website:-

http://www.moneymadeclear.fsa.gov.uk/

Rick62

No, not with the FSA. First you must formally complain to the the company address given in you terms of business (key facts about our service), make it clear that you are making a formal complaint. Then if you don't get a satisfactory response within the regulated time you then complain to the FOS (Financial Ombudsman Service).