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Pushy mortgage adviser

edited 30 November -1 at 1:00AM in Mortgages & Endowments
7 replies 1.2K views
AliceBannedAliceBanned Forumite
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edited 30 November -1 at 1:00AM in Mortgages & Endowments
Hi

I'm a bit confused - I was enquiring about eligibility for a shared ownership flat which I really like. The housing assoc which is selling it put me in touch with their broker who has to decide on my eligibility. They said I could make my own mortgage arrangements separately but I had to give my details to the one they put me in touch with to be assessed initially. I have been given approval but it is unclear (despite me asking) how much of a share I have been approved for. A few days ago I had a phone call from the mortgage adviser chasing me for documents, telling me to get in quick blah blah it was my only way of getting on the ladder. I earn £28k and have £8k deposit so far (looking in the south east). I felt really stressed by this call and subsequently did not want to go ahead with this mortgage broker. however the housing assoc has now emailed and said "it's fine for you to state they will organise your mortgage":eek:. I don't know what stage the process is at even, and have asked the HA to let me know, though they are not good at getting back to me so I'm tempted to pull out altogether just so that I have my freedom of choice..:mad:
DFW. PayDBX 2019#163 :A
Debt at LBM: £18,335
Current debt: £6,151
Mort overpaid £800 EF: £200
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Replies

  • AliceBannedAliceBanned Forumite
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    Thanks. Think I need to do a carefully worded email.

    The lack of information is terrible!

    Think I will let them know I am considering pulling out and why. I like the flat a lot less due to their treatment of me. It's so upsetting.

    If I do pull out I will let the seller know what happened, as I've viewed it twice and she knows i liked it a lot.

    It was my second choice anyway - couldn't afford my first choice and it was with a much more "transparent" housing association who have been so helpful on the phone. Found out today the last one had been sold and found this really upsetting. The one I'm supposed to be buying is looking less and less like I care...but this is due to the stress and worry due to lack of information and lack of responses. I'm on my own as a first time buyer, it's really not on to be treated like this. I almost feel like there are backhanders being given out. Something really odd about it. I get very upset by any lack of transparency, even at work etc. :(
    DFW. PayDBX 2019#163 :A
    Debt at LBM: £18,335
    Current debt: £6,151
    Mort overpaid £800 EF: £200
    _________________________
  • AliceBannedAliceBanned Forumite
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    Malcnascar wrote: »
    Yes it's so frustrating to be left feeling out of control.

    It is your choice who you do your business with, you like the home so think carefully before withdrawing your offer.

    I usually find that when someone is pushing me that letting them know that I am feeling uncomfortable with the way they are dealing with me. And that I really am considering pulling out, let the HA and the adviser know your feelings, this usually concentrates minds.

    Best of luck

    Thanks Malcnascar. You were spot on! Now all has been explained to me, in a very speedy response!:j
    DFW. PayDBX 2019#163 :A
    Debt at LBM: £18,335
    Current debt: £6,151
    Mort overpaid £800 EF: £200
    _________________________
  • AliceBannedAliceBanned Forumite
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    Not sure whether this is outside of financial services' code of conduct or just unethical, but she has blurred the lines between me being approved (as a contractor put in place to do this on behalf of the housing assoc) and me doing a mortgage application.

    Without saying why, she rudely told me I had to go to one of her offices (at a time only convenient to her so I said I couldn't, and at least tried to make it convenient to myself - using up annual leave however) and when I asked what the purpose was, as I had a mortgage broker whom i had worked with before, (as it had been implied that this was to complete my vetting for the property), she said it was to go ahead with a mortgage application. So she would be getting me there on false pretences. Even if she could get me a good deal, I'm not going ahead with such a big purchase with someone who has been sneaky and rude from the start!! My friend said in sales this is known as the "assumed close" but I never approached her for a "sale"; I had not choice but to deal with her to be accepted by the HA!!
    DFW. PayDBX 2019#163 :A
    Debt at LBM: £18,335
    Current debt: £6,151
    Mort overpaid £800 EF: £200
    _________________________
  • BufgerBufger Forumite
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    I'd do a big ol list of things you need answered before you will proceed any further. Take back the control and get all of the information you want in order to make you happy.

    Write it all down, do your sums and enjoy the process. Most people think house buying is stressful but I enjoy it!
    MFW - <£90k
    All other debts cleared thanks to the knowledge gained from this wonderful website and its users!
  • AliceBannedAliceBanned Forumite
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    Malcnascar wrote: »
    This depends on the requirements of the HA. Hopefully a mortgage adviser will know the legal stuff.

    I think the HA is able to ask for you to see their advisers as a pre requisite of accepting your offer. This is to help the HA decide when to stop actively marketing the property. The sooner they know how likely you are to get a mortgage the better. Their chosen broker might have access to mortgage funds not generally available. What I don't think the HA can do is make you take any product offered by their broker.

    Thanks. yes they did tell me from the start that I could go with my own mortgage arrangements, but the adviser made it a bit unclear that she wanted me to go to her office but it wasn't necessary, unless I was arranging the mortgage through her, which I had at no point said I wanted to do. I just know that they have a selection of advisers, I wasn't given a choice and then the one I dealt with "assumed" (her word) that I wanted a mortgage via her. I didn't like this lack of transparency. So now I may not get a mortage as I'm not going through her..I found her rude and bossy, and that isn't necessary.
    DFW. PayDBX 2019#163 :A
    Debt at LBM: £18,335
    Current debt: £6,151
    Mort overpaid £800 EF: £200
    _________________________
  • AliceBannedAliceBanned Forumite
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    Bufger wrote: »
    I'd do a big ol list of things you need answered before you will proceed any further. Take back the control and get all of the information you want in order to make you happy.

    Write it all down, do your sums and enjoy the process. Most people think house buying is stressful but I enjoy it!

    Ok thanks. I was enjoying it until I was getting confusing messages. I have started to take back some control. :)
    DFW. PayDBX 2019#163 :A
    Debt at LBM: £18,335
    Current debt: £6,151
    Mort overpaid £800 EF: £200
    _________________________
  • AliceBannedAliceBanned Forumite
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    :D
    No wonder I was feeling all agitated..

    Forgot that saying, nice one..
    DFW. PayDBX 2019#163 :A
    Debt at LBM: £18,335
    Current debt: £6,151
    Mort overpaid £800 EF: £200
    _________________________
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