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The Broker Blues Thread
Comments
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I noticed that.....
In other news, has any one noticed just a general lowering of service standards across the board at the moment?
A couple of months ago I had a Santander mortgage offered in 3 hours, now its more like 6 days.
Don't get me wrong, 6 days is fine for an offer, but the bar has been raised so high by the standards set at the beginning of the year I cant help but be disappointed.
Also noticed NatWest taking longer and not updating. Nationwide asking silly questions and still using multiple departments. Leeds maintaining their usual ridiculous requirements. Woolwich are an absolute disgrace at the moment.
So am I imagining this gentle decline? If not, when does it stop?!!!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 -
I've just had a client call me unreasonable for saying that I wouldn't go and see her at home to do the mortgage, and I shouldn't charge a fee (£250) because she hadn't got much money.
This was for a £10k mortgage, with a round trip of 130 miles. Gross proc fee before deductions £40!!!!!!!!!!!!!!!!
Nearly £50 in diesel to go, so I'd be £10 out of pocket without any of the processing time. But I'M the unreasonable one.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.0 -
I would have suggested they speak to someone local.
Even with the fee thats not going to cover your costsI 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 -
First two calls today are from clients about to buy - both asking if its worth waiting so they can use the HSBC 1.99 deal...
The fact that both had 10% deposits may be an issue though :-)
Seriously, HSBC have got some publicity out of this even though its a deal the vast majority of my clients would be anable to get.I am a Financial Adviser specialising in Mortgages, Protection, Health and Medical Insurance. I also write wills. All information posted on this site is for discussion only, and should not be taken as advice.0 -
As I expected, three e mails over the week-end from clients with submitted applications asking to be switched to 1.99% 5 year fixed. Wasted my time politely explaining how they, and many others, didn't qualify for the scheme. Good publicity for HSBC, but little affect on the mortgage market place.0
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Doesnt it also come with a £1500 fee?
Im sure down south its probably not too bad but up here most people would be better paying 1-2% more with no arrangement fee.I am a Mortgage AdviserYou 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 -
Usual nonsense.
Everyone goes into a 16 weeks waiting list to be told 'no'.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
I have a bit of a dislike for nationwide at the minute - last case 2 1/2 days from DIP to offer.
This case, DIP refers, asked to send in a lot of documents and then told it will be 8 WORKING days to be looked at. Their website says a day-2 days for applications to be looked at!I am a Mortgage AdviserYou 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 -
Tony I assume there is some adverse on this one, as this is a different queue to the standard DIP decision.
Is the client ex IVA/bankrupt etc?
They do not always even stick to this 8 day and you often have to call through to get the decision.
We have been put on a new system recently with them where we can e-mail for updates/etc.
Good luckI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
No adverse at all on it.
One applicant is self employed and income has jumped nearly 1000% from last year to this years so I think thats the issue.
I have spoken to my account manager, unlike my previous 2 he seems pretty good and has agreed to get it escalated (I moaned that I submitted the application to them on the basis that their timescales on the website is 1-2 days). But I will wait and see if anything happens on that.
I am a Mortgage AdviserYou 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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