lost money on a Mortgage application

killerkinky

Is there anyway to reclaim money off a building society for poor service when applying for a mortgage?

The lender in question messed about for weeks, and in the end offered less than they said they would. I now have to go to another lender, get another survey etc.

I know the 'processing fees' are gone, and I understand that. But is there anything on the survey side..?

At one point I even had to re-apply as I wasn't prepared to lie on my application, so for doing the right thing I'm now around £1200 down. It seems like we just have to take that?

Thanks

M

kingstreet

You may have a case if they expended your money unnecessarily. For example, if they instructed a surveyor to inspect the property when there was some doubt over the future of the application.

This

I wasn't prepared to lie on my application

is rather disquieting. Was the agreement in principle honestly obtained? For what reason was the amount of the mortgage available to you reduced between the AIP and full application stages?

dunstonh

The lender in question messed about for weeks, and in the end offered less than they said they would. I now have to go to another lender, get another survey etc.

How long is weeks? A mortgage application when you are borderline or over standard criteria can take longer. Waiting for the valuation to be done can take time A survey could be longer (you say survey).

So, we need to know how long it was.

killerkinky

Hi, Thanks for the replies.

'is rather disquieting. Was the agreement in principle honestly obtained? For what reason was the amount of the mortgage available to you reduced between the AIP and full application stages?'

The basic problem was my wife was applying for the mortgage as I already have one so I was asked to sign a letter to say I wouldn't live in the house. I was prepared to do that, so I was told we could apply again (around £200) and it would all be fine, that when they came back with the lesser offer (20k). It annoyed me as we both earn well, have no debts, other than my mortgage.

'So, we need to know how long it was.'

We had agreement in principle at the very start, then the survey was done quickly, the first offer came in and was reduced, I then wanted to add myself as living there, and then after four weeks the eventually came back with a low offer.

hope that makes it a bit clearer,

M

ACG

Youve still not given timescales.

But your actually applying for a mortgage knowing that the information your putting down (ie you wont be living there) is a lie.