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Incompetent Mortage Broker
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ukbrockest
Posts: 66 Forumite
Well it seems my MB put my app into Nat West for 90% LTV when I needed 95% LTV - my KFI reflects this.
Nat West have instructed a Valuation this Friday, I have paid for this and also paid Solicitors for searches (£200 initially)
Only found out tonight as I was checking a PDF of the Nat West application that MB sent me.
This now changes everything as will it now have to be under written again at 95% LTV.
Don't think I can take much more.
Its late now and I can't do a thing - I have emailed my MB, I did try and phone Nat West but they are closed now.
Stressed out isn't the word!
Nat West have instructed a Valuation this Friday, I have paid for this and also paid Solicitors for searches (£200 initially)
Only found out tonight as I was checking a PDF of the Nat West application that MB sent me.
This now changes everything as will it now have to be under written again at 95% LTV.
Don't think I can take much more.
Its late now and I can't do a thing - I have emailed my MB, I did try and phone Nat West but they are closed now.
Stressed out isn't the word!
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Comments
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Cancel the valuation tomorrow?
Make sure any new mortgage is based on the best for you and not on the basis that it has already been submitted to natwest.
Job done.
I know this probably wont change anything but whatever will be will be. You stressing will not make any difference on the application so you should try to relax and definitely easier said than done after your post but leaving it to your broker, thats what they are being paid for. We all make mistakes and i would put money on him checking this one with a fine toothcomb from now on.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 -
Well after speaking to MB this morning she said there was a anomaly with Nat West application system and that I have been put forward for a 95% LTV
and not to worry!
Then she calls me this afternoon and tells me Nat West are querying stuff now about the application!
Pretty poor service if you ask me - Valuation is supposed to be Friday - she couldn't even tell me if it is still going ahead!0 -
retty poor service if you ask me - Valuation is supposed to be Friday - she couldn't even tell me if it is still going ahead!
Many lenders have quirks and issues to be aware of. Some are poor service. Others are limitations or a lack of understanding. The fact you havent had a decision yet suggests you may be pushing limits somewhere. Or it could be that you have been unlucky and have been selected for closer scrutiny as part of random checks. However, that does not make it poor service. Mortgage applications can be slow and with lenders asking for evidence on things, it can take a while.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
ukbrockest wrote: »Then she calls me this afternoon and tells me Nat West are querying stuff now about the application!
Pretty poor service if you ask me
Aren't the NatWest allowed to vet your application?0 -
Thrugelmir wrote: »Aren't the NatWest allowed to vet your application?
Yes but I was told everything was fine on Friday and that the valuation was instructed!0 -
Typically Natwest only instruct the valuation once they are satisfied with the case.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 -
ukbrockest wrote: »Yes but I was told everything was fine on Friday and that the valuation was instructed!
Perhaps it was on Friday. Doesn't mean the checks were complete.0 -
Given your other thread, assume there is something, somewhere that you do not want Natwest to find?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 -
Given your other thread, assume there is something, somewhere that you do not want Natwest to find?
Not at all - My credit card is showing as paid off on Experian but not on Equifax - sent PDF of credit card online statement showing £0 balance to my broker as this is their query as I said it would be settled.
Broker is confident all will be ok0 -
Then try not to panic, Natwest are ok and happy to lend to the right applicants.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
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