sequence, broker and TMW

cypher007

just cancelled a mortgage app with TMW. we didn't want it and were rushed into it by our broker, as we were offering on a property and at the time BM solutions declined. it was as I understand it £390 valuation fee, we didn't have the valuation done, as the broker managed to secure the BM one. he then said he would get the valuation fee refunded, and went on holiday. since then sequence have been managing the case, I had my statement through and they've only refunded £240 :mad: .


so back to sequence who said TMW are keeping £150 admin fee :mad: . I said ok whos refunding it, awkward pause, then replies I can contact TMW and see what they can do, also she will email my broker to see if he can pressure the Business Development Manager to sort it.


my question is this who do I claim the £150 from if TMW try to keep it?


p.s. paid on credit card. though don't find Capital One very useful when ive had disputes with retailers in the past.

kingstreet

What does your key facts illustration say about the fees?

They are listed in section eight and show as refundable, or not. The valuation fee wasn't spent, so that has been refunded, but the application fee may not be refundable.

If the broker submitted the application without your agreement, the broker should refund the application fee, IMHO.

Dave_Ham

Did the same broker arrange the BM Solutions case?

TMW will very rarely buckle on the £150 administration fee and will wholly depend on the circumstances.

I would suspect this will be you vs the broker.

cypher007

Dave_Ham wrote: »

Did the same broker arrange the BM Solutions case?

TMW will very rarely buckle on the £150 administration fee and will wholly depend on the circumstances.

I would suspect this will be you vs the broker.

yes its the same broker.


ill check the KFI tonight.

cypher007

it turns out they went to underwriting, and wont refund. broker says hes sorry :mad: . I think the broker should have told them not to proceed immediately, until we definitely knew we couldn't get the BM mortgage.

kingstreet

Formal complaint to broker's compliance department (see Initial Disclosure Document section 6).

Escalate to Financial Ombudsman Service if you do not get an acceptable Final Outcome after the allowed 8 week investigation period.