Mortgage broker messing me around

Bex1983

I have instructed a mortgage broker to find me the best mortgage. He told me that he got two independent mortgages approved, however I have asked him to send the information through several times over the course of a week and he still hasn't 't. He keeps saying that he has but I haven't received the info even though he has the right email as I checked several times.

He is also in the process applying or a mortage through nationwide which would be the best deal - however it has been 3 weeks and no news. I asked him to give me the tracking number, but says he can't because he doesn't have one as he speaks to someone directly.

I getting really concerned as we could lose our house if we don't secure a mortgage soon and I have invested so much time in this broker. Is this normal as this is my first mortgage?

Any advice on what to do would be great.

Thanks

GMS

You should have been provided with Illustrations for any mortgage before application.

Sounds like you have a poor broker.

Find another one is my advice.

How much are you applying for and what deposit?

Bex1983

I am applying for 177000 and have 10% deposit with my partner.

GMS

Have you tried applying to your own bank?

Tip for you.....Try applying for 89.9% as it can sometimes help credit scoring. Less than 90% has been known to mean a lower score needed

Thrugelmir

Change broker.

Bex1983

If anyone from nationwide is reading my post please get in touch as I would like to try and track what stage my mortgage application is at or even if it is being processed.

Many thanks.

ACG

Your advisor has to give you a copy of the illustration before application - otherwise you dont have all the information you need to be given beforehand.

Why has he made 2 applications?
That affects your credit file.

I would be inclined to get rid but after 2 searches on your file it might be a case of just sticking with him. Alternatively you may be able to find a new broker and have the AIP/DIP transferred to a new broker...but you need the paperwork to do that.

Thrugelmir

Bex1983 wrote: »

If anyone from nationwide is reading my post please get in touch as I would like to try and track what stage my mortgage application is at or even if it is being processed.

Have you filled in an application form?

Bex1983

I never filled in a form, the broker did all that based on what I told him in response to the questions he asked. I provided payslips, p60, bank statements.

He just said that hevhas placed some applications and said two came back positive, but to wait for the nationwide application to come through.

I just trusted that he knew what he was doing - obviously this seems not to be the case.

GMS

Call your broker tomorrow and ask for KFI's (Key Facts Illustration's) for each application. You should also have been provided with Suitability Letters for each mortgage detailing why a particular one was selected.

Have you been provided with an Initial Disclosure Document (IDD). This should detail services and fees. This is a bare minimum for any transaction.

Also get the Decision in Principle certificates for each application.

If they cant/wont provide immediately then walk away and find a proper broker.

Scandalous way to treat a client and you will be able to compain whether you choose to now or once you have sorted the mortgage.

Idiots like this give us all a bad name. I assure you we are not all like this. Hopefully it wont put you off and you will find a decent person to deal with your application.

ACG

Also ask if the AIP/DIPs are dated on whatever dates he told you they were done.

If not then he hasnt or hadnt done sod all - go and find someone else while your credit report is in tact.