Remortgage advice/renegotiate current mortgage

fewcloudy

From the Original Post;

"After passing out and thinking omg I'll have to sell the house etc I pulled myself together. I contacted the broker and asked for a copy of my mortgage application form and he said he'd get it out of archive but it would take a week. That was 3 weeks ago and he's since not answered any of my phone calls or emails so I think he's just trying to ignore it as its his mistake as well as mine. It's my mistake too as I've just signed the app & offer but we have both made a mistake"

You have received some good advice from people on this thread. I am however surprised that a brokers mistake, and its disastrous consequences for your future finances has largely gone unmentioned (bar Holly Hoby in 2nd post), other than to say that ultimately the buck rests with you as you signed the documents.

I'm surprised and a little bit dubious about this.

I'm also wondering if

a) the above behaviour (of no longer answering phone calls or emails) is just unfortunately acceptable behaviour in that line of work, and if not, what the industry does about it? Are there standards, and who upholds them?

and

b) do advisers not insure themselves against the possiblity of costly mistakes? Some sort of indemnity insurance maybe?


Is it a fair of me to use an analogy from the industry that I work in, health? Many times a week I ask patients to sign consent forms that have been drawn up prior to them undergoing elective surgery. Standard forms but with gaps to put in very important information i.e. Left Leg or Right Leg! The patient signs it. This is carried out in every hospital in the land, for many years now. In the (very rare) occasions when an error occurs, with disastrous consequences, the fact that a patient signed a piece of paper does not absolve the person who made an error when preparing the consent form. The actions of all parties involved are examined at an inquiry.

I appreciate the OP has asked for, and recieved, advice on how to make the best of a terrible financial situation, not who to blame for it, and I think that is laudable. I am not part of the blame culture, absolutely not. However, I am all about industries learning and improving so that it is not easy for the same thing to happen again. One individuals small error in mental maths or a clerical error leads to this? Could that happen today?

So can I ask; do you feel that in this instance there is merit in asking questions about the behaviour and professionalism of the broker, both from years ago and presently?