Mis Sold/ Advised Mortgage

holly_hobby

Let_Us_See wrote: »

Shame, it is just reflective of our blame culture which makes no allowances for genuine mistakes.

Surprised at that to be honest, its my opinion that I would expect the adviser to be taking responsibility here, full stop, and should at the least be liasing with Halifax/their BDM on behalf of themselves and the client.

I agree with the comp culture (being someone whom reviews complaints for firms), and yes over the yrs you learn not to take at face value off piste info from any mge helpline, which is normally just an inconvenience and easily rectified ifs pre app submission, but more serious where there is a financial loss incurred as a result.

And I can only assume "makes no allowance for genuine mistakes" means the OP should simply shrug their sholders, say "hey don't worry mistakes happen, its just one of those things", and happily absorb both the ERC and (alleged) higher mge costing, simply because the duff info provided to them may not have been given to deliberately disadvantage.

The KFI & Suitability letter will be valuable, and the supporting further emails from the adviser will be the nail in this (I would suggest if the OP can also establish they've been disadvantaged ie they can prove they could have completed within the 3 mths if advised to do so, or there would have been a NW mge on the table).

But I don't think they are trying their luck/jumping on the compo bandwagon , I do think they have a very valid gripe ..... and I do think its Halifax whom are to blame here ..... and thats for the adviser to deal with.

Holly

Leon_W

I had the wrong house valued for a client once - don't ask !

Bang to rights I'm afraid. Refunded the client and got it sorted but it comes down to it being my fault and up to me to put right.


Before you do anything check the mortgage OFFER as I said earlier. It may say something which could be a get out of jail free card for your broker. Don't bother checking the KFI as that wont have the detail.

Let_Us_See

Certainly not trying to absolve adviser of blame or financial responsibility, just pointing out we have the usual case of conjecture over facts.

As I previously stated the KFI, mortgage offer and especially SL should provide relevant insight of the mortgage advice and will therefore far more constructive then the usual "he said - she said " scenario far too often found on this forum.

amnblog

Halifax say that 'as a concession' if you start a new mortgage within three months of finishing the old one you can take your product with you and have an erp refund.

I hate these scenarios as the broker is caught in the middle and I have little doubt she may well have been 'told' that a mortgage offer was good enough to obtain the erp refund.

It would be interesting to see any paperwork you received when you paid the erp on the first deal.

Other posters are right in that your complaint is with the broker not the lender - that is the way it works.

I always annoy the lenders by asking them the same question 3 times in 3 different ways and getting it in writing before I believe them

Let_Us_See

amnblog wrote: »

I always annoy the lenders by asking them the same question 3 times in 3 different ways and getting it in writing before I believe them

Agreed. Unfortunately, it is not unknown to end up with three different written confirmations!!!!

magpiecottage

amnblog wrote: »

Halifax say that 'as a concession' if you start a new mortgage within three months of finishing the old one you can take your product with you and have an erp refund.

That might be interpreted as ambiguous by FOS - does "start" mean the loan starts or is merely applied for.

I suspect not but FOS does tend to interpret ambiguity in a firm's documentation in the manner that favours the consumer.

amnblog

I am not sure that 'start a new mortgage' is ambiguous magpie.

The 'mortgage' does not exist until it is put in place by the legal team when the loan is drawn down.

In your case this was three months and one week from settling the last mortgage was it not?