Financial advisor has lost my documents!

mrsgrubtec

Hello everyone,

I'm looking for some advice. We have recently sold our property and bought another. For ease we were using the services of a financial advisor attached to the estate agents as neither me nor my husband are clued up on mortgages! A months before our property sold our current mortgage deal came to an end so we remortgaged through this financial advisor. We gave him all my husbands wage slips, the last 12 months worth, his P60 and our latest mortgage statement and to cut a long story short, he has lost them! The remortgage didn't go through in the end but now we have 6 weeks to secure a mortgage on our new property and no proof of income for the new mortgage company. I'm pretty disappointed with this advisor, it has been a catalogue of errors from start to finish but this is the last straw, I'm not sure if it will affect our ability to secure a new mortgage or not. Anyway, if anyone has any advice I would appreciate it.

Many thanks.

Dave_Ham

Unfortunately a typical Estate Agent Mortgage Advisor...

Can you get new payslips from HR and bank statements from the bank?

Not ideal, but worth putting the wheels in motion..

You should still have time, but another poor show from the Estate Agents advisor...

Best of luck

mrsgrubtec

Thanks for you reply Dave Ham. Hubby's work have said no to replacement payslips but he does have one that he got today for his pay due at the end of November so we are hoping that that combined with bank statements will be enough to satisfy the bank. I'm planning on withholding the fee for the financial advisor as the way I see it he has done nothing for us. The new mortgage we have applied for we applied directly at the bank and the original remortgage well nothing ever came of it! We were told it had all "gone through" but we never ever received anything from the bank!

Dave_Ham

The fact you have the latest payslip, will make a mortgage possible as many lenders will accept last one given the circumstances and bank statements.

I would be a tad sly and ask your current advisor to confirm in a letter that he/she lost the payslips. Tell them that the new lender wants confirmation.

Once everything is done and settled down, you can complain to their compliance team and have a letter to prove they did lose and acknowledge it was their fault.

Good luck with the new mortgage....

mrsgrubtec

Brilliant advice Dave Ham, thank you, I shall do just that!

Thanks again.

opinions4u

Complain.

Ask for compensation.

If you don't ask ...

Yorkie1

opinions4u wrote: »

Complain.

Ask for compensation.

If you don't ask ...

Losing sensitive financial documents relating to a client ... sounds like something a regulatory body might be interested in, not to mention a breach of data protection principles.

Put a formal request in writing to the advisor, asking for the documents to be returned. They will need to reply in writing enclosing them or otherwise ...

dunstonh

Estate agent advisers - why is it always them that cause problems!

Occasionally errors happen and a document will go missing (typically in the post between two points). However, to lose 12 months payslips, a p60 and a statement is inexcusable. I would love to see how he recorded that in his documents register for safekeeping.

Can only say that the advice above is great and you should follow it.

ACG

Why would they even need to take 12 months payslips?
Surely that alone means theyre taking information they dont need, as far as im aware companies should only be keeping information that is relevant.

I would say at the very least you wont be paying be their bill. Possibly even some compo also.

As dave says, ask them to send a letter/email saying they have lost your payslips so that you can forward it on to the new lender. This will help your case no end when/if it comes to making a complaint.

mrsgrubtec

Thanks everyone for your advice. the wage slips alone have my husbands name, address, bank details, national insurance number and employment details on them, not something you would want to fall into the wrong hands. I wanted to check I am justified to make a complaint before I go ahead and do so and it would seem I should so thanks again everyone.

holly_hobby

This is truly awful - and obv a breach of DPA regs, which the ICO will be interested in.

Can I just say one thing ..... my guess is that, it may not be lost i.e thrown away with trash etc, but he's probably put them in someone else's file, which can happen if you're someone who doesn't operate a clear desk policy and work on one case at a time - as often poor housekeeping such as this is a result of working with a desk of chaos (ie various files, docs, paper everywhere !)

Ask him (if he hasn't already done so), to go through ALL of his current files and those that have gone to completion/NPW and been filed away since he has been in possession of the docs (which I presume is from your 1st appointment).

This doesn't mean, that a complaint can't be submitted, if found, but I'm sure the most important priority right now is finding the items - with retribution and hauling over coals to come later !.

Hope this helps .... hope they turn up x

Holly x