Bad broker or client?

moremoney27

Hi,

Just a quick question for all you brokers. Simply put do I have a bad broker or am I an impatient client? The situation is this my broker is probably sick of me bugging him all the time with questions and so on, get the feeling most people just trust his advice at face value whereas I like to walk into things with my eyes open so will happily go off and research deals he's suggested myself. I appreciate I went to him for help but I see nothing wrong in making sure I am happy with his recommendation when it's the biggest purchase I will ever make (I hope!). So I am putting up with his cheery manner having turned to exasperated sighs really, well I can cope with that to sleep soundly feeling I did the right thing for my family. But now he is starting to wind me up. He tells me he will get back to me at certain times and then never does. I know he has other clients and so on, but if a broker says I will phone you tomorrow with the details wouldn't you expect him to phone tomorrow at some point and not have to chase him days later. So after that little explanation am I being unreasonable do you think? Would you as a broker be annoyed with me too? Would you also contact me when you said you would? Just curious as this is my first experience of using a broker you see.

Cute_'n'_Quirky

Your broker will have to await information coming in to him from another source - did you ever think about that?

Yes, he will have other clients, but the process is not as clearcut as your post suggests.

Your post suggest you are a FTB, which is time-consuming.

I tend to think that a little patience might go a long way.

moremoney27

Yes I am a FTB. I understand things can take time, I just don't like being told he will contact me and then doesn't more really. I would appreciate some form of contact if only to say 'I don't know yet, will get back to you as soon as possible' sort of thing. I suppose perhaps he shouldn't be telling me specific times. But some of my queries that have seemingly taken him days are really very simple, so much so that in my waiting for him I have found out the answer myself only for him to confirm it. And on the flip side he will be making a nice chunk of change from my mortgage. He has even told me it works out to be 2-3 times a standard commission, so I don't think it completely unreasonable to expect him to work for it a bit.

JoeK_3

moremoney27 wrote: »

Yes I am a FTB. I understand things can take time, I just don't like being told he will contact me and then doesn't more really. I would appreciate some form of contact if only to say 'I don't know yet, will get back to you as soon as possible' sort of thing. I suppose perhaps he shouldn't be telling me specific times. But some of my queries that have seemingly taken him days are really very simple, so much so that in my waiting for him I have found out the answer myself only for him to confirm it. And on the flip side he will be making a nice chunk of change from my mortgage. He has even told me it works out to be 2-3 times a standard commission, so I don't think it completely unreasonable to expect him to work for it a bit.

Wowww!! You have written a lot but nothing in detail.

What stage are you at?
Have you found a house?
Has he found you a mortgage?
Has an application form been completed?

From the scant information supplied, he does not seem all that efficient!

JoeK

MortgageMamma

HI

I cant really say if your broker is any good or not

First time buyers do sometimes need their hands holding and some brokers are better at it from others

Why dont you post your circumstances, questions and concerns on here and let us help you?

kenshaz

Cute_n_Quirky wrote: »

Your broker will have to await information coming in to him from another source - did you ever think about that?

Yes, he will have other clients, but the process is not as clearcut as your post suggests.

Your post suggest you are a FTB, which is time-consuming.

I tend to think that a little patience might go a long way.

The attitude that the broker is adopting would make me more resolute and it is essential that you make the correct choices.

Cute 'n' Quirky why do you believe that the poster shold have patience ?The broker will receive payment for his services and should therefore respond to his clients inquiries.
I am not aware of your particular profession,have you any experience of the demands that an adviser might be under ,perhaps it might be advantageous to hear from some-one in the industry,who is aware of the demands?

JoeK_3

kenshaz wrote: »

The attitude that the broker is adopting would make me more resolute and it is essential that you make the correct choices.

I agree with that!

kenshaz wrote: »

Cute 'n' Quirky why do you believe that the poster shold have patience ?The broker will receive payment for his services and should therefore respond to his clients inquiries.

I am not aware of your particular profession,have you any experience of the demands that an adviser might be under ,perhaps it might be advantageous to hear from some-one in the industry,who is aware of the demands?

Absolutely no need for that.

Cute 'n' Quirky is entitled her opinions just as you are and is contributing to the balanced views of this forum, just as you are.

Please take this into consideration.

I stated in my answer that the broker did not seem efficient but it's up to the individual to decide how tolerant they want to be with the service.

JoeK

kenshaz

JoeK wrote: »

I agree with that!


Absolutely no need for that.

Cute 'n' Quirky is entitled her opinions just as you are and is contributing to the balanced views of this forum, just as you are.

Please take this into consideration.

I stated in my answer that the broker did not seem efficient but it's up to the individual to decide how tolerant they want to be with the service.

JoeK

Whilst I agree with your post ,I feel that Cute 'n' Quirky is being rather harsh with this FTB and I am curious about why he/she feels that patience is required in this particular instance .Has he/she been a FTB? Perhaps he/she has had experience of similar circumstances.
He/she is not an adviser therefore I cannot understand her/his response.

Patience might be incorrect advice ,because this broker needs to kick start into action

MortgageMamma

I just wanted to point out that there have been a lot of product withdrawals this week and some lenders take a day or so to get their new products marketed

these include woolwich, halifax, portman, and others that I cant remember off the top of my head cos its so early

1, the original recommendation may now be invalid if the product has changed

2. the broker may be holding off because of the product changes

Not sticking up for him/her. Just pointing this out

kenshaz

Communication is the key,perhaps he/she has not got the information that you require ,but a phone call keeping you up to date is the answer .

Cute_'n'_Quirky

In my past working life when my patients knew I was out all day at work I would find that someone would have left 5/6/9 messages between 1pm and 2.30pm. How they ever expected a call back is beyond me.
Similarly when doing home visits and it would be snowing heavens high, with snow building on the roads, I could guarantee someone would complain about my being five minutes late, or would phone me on my mobile at 1 minute past the appointment time. This was even though I had 2pm approximately on their appointment card. I stopped allowing my patients to have my mobile number a very long time ago for this very reason.

Also, I don't agree with the broker's commission being disclosed on the KFI for the simple reason that people will assume that every penny is profit. There are business expenses to be paid out of any commission. In my opinion the FSA should never have forced that into the equation.

When I saw my solicitor re a medical negligence case I didn't know until I got the invoice that his fees were £225 per hour. He wasn't forced into disclosure in this way. He has a business to maintain and forced outgoings which he has no control over. So do the Mortgage Brokers.