We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Broker Blues Thread

1656668707191

Comments

  • amnblog
    amnblog Posts: 12,769 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The most frustrating thing is where the borrower thinks they know better - they go off and crash and burn - then are too embarrassed to come back to us and no-one wins.
    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.
  • amnblog
    amnblog Posts: 12,769 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Incidentally - has anyone noticed that Unbiased have changed their format and seem to be blocking attempted contact with Advisers who are not subscribed.
    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.
  • kingstreet
    kingstreet Posts: 39,335 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    kingstreet wrote: »
    To finish my moan from earlier, there is no longer an option for the client to pay Colleys to do a valuation, so no right of appeal against a patently ridiculous valuation on a one-off property surrounded by smaller, cheaper comparables.

    I firmly believe Halifax does not want interest-only business and should simply come out and say that.
    Just to conclude, we did get our Colleys inspection, at our client's expense of course.

    The property was valued at £650,000 so the Halifax valuation of £345,000 was patently ridiculous as suggested.

    Property was suitable security for interest-only as 80% needed and offer issued today.
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • im curious do you brokers know when a case is getting investigated by fraud can you tell by the way the case is going ?
  • amnblog wrote: »
    I have one in with a lender currently.


    U/W - Please provide evidence that gifted deposit has been in the donors account six months.


    Me to BDM - Why are they asking for this - it's nonsense


    BDM - It only applies to gifts from overseas -


    Me - it's from the UK and a UK account


    BDM - I will get the requirement removed


    Call centre - We need proof that gift has been in the bank 6 months


    Me - BDM says for overseas cash only


    Call centre - That's what I thought, I'll get the U/W to remove it


    U/W - Please provide evidence that gifted deposit has been in the donors account six months.

    lol this litteraly looks like my day at work btw generally the bdms know !!!! all and are calling the same call center you are some bdms are good tbf :)
  • kingstreet
    kingstreet Posts: 39,335 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Olympic gold medal standard f*ckwittery from Nationwide.

    "We can't accept this Halifax passbook as proof of deposit."

    "Why not?"

    "It's not up to date. There are no recent transactions showing."

    "No, but it's a passbook, if there's nothing showing it means the balance is the same as it was before, as nothing has happened since."

    "Well, the last transaction is more than twelve months ago, so we need something less then twelve months old to make it acceptable."

    YCNMIU.
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • amnblog
    amnblog Posts: 12,769 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I've just had a passbook sail through with Nat West - which to be honest, surprised me
    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.
  • Interesting dilema over here

    If you had a client who you knew from looking at their tax credit form was committing benefit fraud (benefit not mortgage) would you tell dwp or is it not your business to do so and has data protection implications

    claiming as a single person when I know they are living as a couple - as I did their last mortgage back in 2013 and it is a joint child.
    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.
  • Have a client wanting to put in an offer through PurpleBricks - online agents. They have told him he has to provide conveyancer details or they cannot accept offer?
    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.
  • kingstreet
    kingstreet Posts: 39,335 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Nationwide ending dual-pricing from tomorrow.

    Free valuations for all, £250 cashback for current account customers regardless of source and end of four year fixed "Flexclusives."

    About time!
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 258.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.