The Broker Blues Thread

amnblog

Our approach is a function of how many times someone has tried to 'burn us' in the past.

EXAMPLE

Last month we had an enquirer accuse us of having told the developer that she had failed credit score.

In spite of the fact:

We had not credited scored her
Spoken to her
Opened a file

We tried to resolve the matter simply by stating the fact that we had done nothing on her case as we were still waiting to speak to her.

The morale is that everyone is the process who isn't are quick to throw mud, they lenders throw it at us if they are in a corner, the borrowers if they don't get what they want (and sometimes if they do) and estate agents constantly.

As we are regulated we cannot afford any mud to stick even if we are not the target, just splashed.

haras_nosirrah

well I have a bit of a crap one

I have had a complaint made about me to my head office by a lithuanian person (never did an aip so won't say they are a client) saying I won't approve them for the affordability for the housing association as I am a racist. The fact that his sa302's go down from 23k in 2011, 16k 2012 and 9k 2013 and that she has one year sa302 at £1900, have a child and get £7500 in benefits and want a mortgage of £120k with rent and service charge of £350 a month (london property) is of course nothing to do with it. (about 80% debt to household income ratio on the HCA calculator)

The irony is that while she was on the phone ranting to my manager about the fact I won't let them buy the property as they are lithuanian, he was observing me doing a mortgage application for some clients buying through the same housing association who are from Poland

Joy oh joy oh joy

ACG

Polish and Lithuanians are different - racist :-P

To be fair that complaint is never going to stand up in a million years so its not even worth worrying about.

haras_nosirrah

My manager was brilliant though. He looked at the file, said they had no chance and that if their independent broker thinks he can get them the mortgage through Halifax then he is clearly desperate for the business and we cannot help them as we have to protect the housing association as well. Clearly a broker doing a Halifax fast track and making up the figures. Will mmr get rid of fast track? It causes me no end of problems with dodgy brokers

amnblog

I was accused of mistreating an enquirer because he was single rather than married.

When I got home I told my wife that I said to him that I had heard of married people being mistreated because they are married but not single people.

She said who mistreats you just because you are married?

My reply: 'you do'.

kingstreet

haras_nosirrah wrote: »

Will mmr get rid of fast track? It causes me no end of problems with dodgy brokers

Yes. Halifax will request at least one payslip in every case.

0845 603 9009 is going to be twice as busy from 14/4!

FWIW I think good brokers have been obtaining three months payslips, P60s and three months bank statements and checking the net pay matches the credit to the account for years. I know we have.

FWIW fast-track is for the lender's benefit, not ours!

sockpuppet

ACG wrote: »

It must be working as i will need to employ someone to answer these questions if it carries on.

This is what I do! Didn't want to go into the advising side so I free the advisors up,
But spend most of my day in tears banging my head on the desk lol! :j

haras_nosirrah

kingstreet wrote: »

FWIW I think good brokers have been obtaining three months payslips, P60s and three months bank statements and checking the net pay matches the credit to the account for years. I know we have.
QUOTE]

good brokers yes but how many have used it to essentially make up the clients income hoping it won't be checked???

donttrustfinancialadvisor

kingstreet wrote: »

Today, I've had a HTB - EL enquiry, I've had to turn down. He's got £200k deposit, wants to buy for £395k, but can't understand why he can't borrow £130k on a salary of £21k.

"Halifax has told me I can borrow £130k."

The HCA calculator says 6X income and 53% debt to income ratio is a non-starter, before I start on lender affordability.

Another wants to buy on shared ownership newbuild. IVA ended in 2011 and LTV too much for any lender but one which won't accept the IVA.

Finally, another shared ownership case, fits only one lender again and without six months employment they won't touch it.

Anyone else having a "plaiting sawdust" kind of day...?

Such a shame we cant go back to 115% mortgages. I had a newspaper-boy in yesterday and with the extra cul-de-sac being built on his estate they still wouldnt touch him?

kingstreet

Your user name makes me think you're interpreting my post as wanting lenders to accept such business.

That is not the case.