The Broker Blues Thread

DpchMd

Is there an underwriters thread where they rip into the countless bad mortgage brokers?

Or would that be deemed unprofessional? ;-)

kingstreet

I think it's time for some pre-prepared answers to copy & paste.

kingstreet

DpchMd wrote: »

Is there an underwriters thread where they rip into the countless bad mortgage brokers?

Or would that be deemed unprofessional? ;-)

Such a member, or members, would be completely entitled to have a thread of their own.

However, brokers weren't put on the earth to torment underwriters and underwriters have several layers of interference not afforded us.

The ones I speak to regularly I understand and they understand me. We respect one another and work to the premise the client comes first and there should be a reason for a request, not just because the book says you need it. < That's for you Barclays' Mumbai division, just in case you are reading.

amnblog

Portability


Common problem - they think it is guaranteed

Transfer of equity

Everyone wants to hop on and off - it's not a bus

Affordability calculators


Why lenders put them online for the borrower I do not know (rubbish out rubbish in) - even we have to learn how to use them through bitter experience


CRA credit "scores"


My score is 999!
EF and ExP selling snake oil
Clients would be better placed just using PAYG phones and NO mail order

HTB EL v HTB - MG


MG should be discussed within the industry only - it just confuses borrowers

No new credit between application and completion.


Part of the 'jam today' mentality.


Other regular questions that have no sensible answer

What are my chances of getting a mortgage?


When will xyz issue my offer


The lender has xxxx, does this mean I have been approved


Should I take 2 yr fix at xxxx or 5 year fix at xxxx


When will base rates go up


Which lenders do xxxxxxxxx

Senior_Paper_Monitor

One of the (past I think) regulars did post an excellent FQA a year, possibly 2, ago with a suggestion that it should be made a sticky (thoroughly supported by many of us), but the 'powers that be' didn't respond.


..... and my personal dislike of the moment ..... "We applied to Haliwidelays last Tuesday and already have our offer so that's the place to go"

kylararlin

kingstreet wrote: »

However, brokers weren't put on the earth to torment underwriters and underwriters have several layers of interference not afforded us.

Can we get that in writing please, certified, and in triplicate? :rotfl:

betmunch

kingstreet wrote: »

I'm getting heartily sick of giving bespoke answers to the same questions posed over and over again when a simple search of the subject would have surely revealed the same answers

And this is the exact reason why you thought I had left the forum! You are waaaaaay more patient than me.

My other pet hates (not neccessarily from the forum):
Me - whats you gross basic salary?
Client - well i take home £x,xxx so I know I can afford a mortgage of £xxx,xxx.
Me - no worries, I'll just hop in my time machine, go back 9 years and find a lender that asks the question can you afford it? Rather than your salary details. Convince them to keep trading through the credit crunch and years of cutbacks just so they can take one last application from you in 2015!
Raaaaaaant! Hahaha.

Also "yup, just finished paying off my IVA last week so my credit is all good now."

While this may make me look a bit jaded, its all in good fun, meant to be anyway! Business is good and the vast majority of my clients are brilliant people that I would happily go for a pint with

Happy Hump Day all

amnblog

Like the gentlemen who called me last year for a self certified mortgage Bet.


Him: I want a self certified mortgage


Me: If only you had only called me earlier


Him: When


Me: About 2006


Fortunately, he took it well.

betmunch

Hahahahaha, love it!


You have to laugh in this job, or you'll cry!

JPB123

I had a conversation with a potential client on Sunday morning at 10.30 when Saturday's wine was still extracting revenge.


"I want you to come and see me at home (30 miles away), after 19.30. I'm not paying a fee and I won't be taking any insurance". This is for a £30k re-mortgage.


When I explained that I wouldn't be doing that, due to the fact that I would earn about £75 after the overhead, petrol, etc, I asked if he would be prepared to work for that much. The answer:


"Don't be f***ing stupid, I wouldn't work for that"......but he expects me to. No sense of irony some people

I am an Independent 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.