Mortgage broker refund

bluecathy75

I went to reeds rains mortgage advisor to get me a mortgage 6 weeks ago and had to pay a £299 fee if he got me a mortgage he applied for one and got it, so the fee was taken from my bank, then afew days later the lender refused the application due to a linked address on my credit file which i was not aware of, after he tried with afew other lenders he was not successful. I am now in a dispute to get my £299 fee back as i have not got a mortgage, he stated no mortage no fee, it has been passed above him now and they are looking into if he has done his job properly. does anyone know where i stand? Am i entitled to a refund? thanks cath

betmunch

Does the IDD he gave you reflect the words "no mortgage, no fee" its what this says that matters.

If you have the IDD, which should be given to you at first meeting, see what it says on there about fees and refunds.

It should be clear from that

ACG

You would/should have been given a document in your first meeting. It sets out the fees among other things. What does that state? It will have a bit on when they would issue refunds.

dunstonh

Refunds should be detailed on the fee agreement/mortgage key facts about our services document.

If the document says no mortgage, no fee then that is the key thing. If it does not say that and there is no evidence anywhere that he said that then yours is an unfounded allegation and they normally end up being rejected.