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let down by broker
Marty_Boneidol
Posts: 4 Newbie
I re mortgaged in 2007 via a broker with the purpose of consolidating some debts. At the time, I was unsure about redemption penalty on my previous loan by knew I was close to it not being applied. I informed the broker about this.
The broker arranged the new mortgage quicker than I expected. As a result the was a substantial redemption fee charged. To manage this, I chose not to pay off one of my debts and complained to the broker. My complaint was rejected at the time.
I want to raise this again via the ombudsman. Has anyone had any success at something similar? Would appreciate any advice on procedure. Many thanks, Marty
The broker arranged the new mortgage quicker than I expected. As a result the was a substantial redemption fee charged. To manage this, I chose not to pay off one of my debts and complained to the broker. My complaint was rejected at the time.
I want to raise this again via the ombudsman. Has anyone had any success at something similar? Would appreciate any advice on procedure. Many thanks, Marty
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Comments
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You signed the offer form to accept the remortgage. So difficult to see how the broker can be held accountable. The broker had no authority to act on your behalf.0
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The remortgage would have been dealt with by a solicitor, did the solicitor not confirm the penalty and ask you if you were happy to incur it or wait a while?
I suspect you are to late now to refer to the ombudsman anyway.I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
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