Question for all mortgage advisors and anyone who can help!!

clusters

I have gone through an IFA to get my mortgage (he works for a company), but we have had problems:

First, he quoted the wrong salary to the mortgage lender which resulted in the offer being dropped by £10k.

Next was the mortgage offer- the APR had gone up - we were never told that this could happen when we got the mortgage in principal.

Then we have been delayed by weeks because he told them it was leasehold and it's freehold so the paperwork had to be corrected.

A week on from that we were told that they were waiting on onfo from the management company for the leasehold, so again had to point out that it was freehold. This meant we waited another week for them to get the info they needed on the freehold.

Then last week, as we were nearing completion, we found out that the guy who had been handling our case was 'no longer with the company'. He had taken a change in direction (career wise).

We are now waiting on signing the paperwork etc so almost there BUT we have paid £100 to the IFA already and should pay another £200 at completion but we are reluctant to do this due to all the !!!! ups. They will also get a fee from the mortgage lender and solicitors.

Where do we stand- can we not pay the rest on the grounds that we have not recieved good service?

Any thoughts or suggestions are most welcome!

Clusters

MortgageMamma

What a mess - sounds like he might have been sacked

Write to the compliance office at the company concerned stating that you do not want to pay the fee due to bad service and numberous errors. list them all.

dunstonh

You probably have good grounds for the fee to be waived.

As you have found out, this is one of the reasons why many of us on the board tell people to avoid salesforces. Go to the small local advisers, ideally the owner/partner/directors who have an interest in the business succeeding, and you generally find the service to be much better.

clusters

This is a small little firm- local, probably about 6 employees. I guess I was just unlucky being stuck with the guy who had no interest in his job. Just don't think that I should be the one to pay for his incompetence.

At the end of the day, we could have got a different mortgage at a lower rate had we have known all of this sooner, but we just don't want to lose the property.

MortgageMamma

I think you are quite right to pursue it, if you put your trust in a professional and they offer shoddy service and then let you down then you have ever right to complain. You would'nt pay for your meal in a restaraunt if you found maggots in your steak would you? go for it

I just hope the knob isnt a broker anymore - save other innocent purchasers from his incompetence.