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Claim back mortgage arrangement fees for delays
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auto7audio
Posts: 6 Forumite

Hi,
I am stair-casing/remortgaging on a flat - with valuation valid for 3 months (12.5 weeks) while the process itself takes 6 to 8 weeks - leaving about 4.5 to get a mortgage approved and start the process.
I got a mortgage refused by a first bank (HSBC => time wasters); I had contacted Barclays already and submitted application the following day.
I was told I should get answer by 7 working days. This was just the limit as it left 8 weeks to solicitors. As it happens this was 11 working days ago and not seen any progress after day 3, mortgage manager has not been of great help as not answering some of my questions and she can't do much apparently to get the underwriters to work faster...
If decision is positive for the mortgage but I have not enough time to complete because of the delays over the delay that was mentioned to me during my initial meetings.
Can I get arrangement fees paid back since the mortgage will not take place?
Anyone with experience on this, let me know, I'll see how it goes but will soon ask Barclays to cancel the mortgage application and claim the money back since they misinformed me about the delays of their underwriter.
It's not only about the money but a question of principles; HSBC took one day for underwriter to offer a mortgage of 40K less than I required, Barclays is my bank and don't stick to the time expectations they set
Thanks/Regards
Julien
I am stair-casing/remortgaging on a flat - with valuation valid for 3 months (12.5 weeks) while the process itself takes 6 to 8 weeks - leaving about 4.5 to get a mortgage approved and start the process.
I got a mortgage refused by a first bank (HSBC => time wasters); I had contacted Barclays already and submitted application the following day.
I was told I should get answer by 7 working days. This was just the limit as it left 8 weeks to solicitors. As it happens this was 11 working days ago and not seen any progress after day 3, mortgage manager has not been of great help as not answering some of my questions and she can't do much apparently to get the underwriters to work faster...
If decision is positive for the mortgage but I have not enough time to complete because of the delays over the delay that was mentioned to me during my initial meetings.
Can I get arrangement fees paid back since the mortgage will not take place?
Anyone with experience on this, let me know, I'll see how it goes but will soon ask Barclays to cancel the mortgage application and claim the money back since they misinformed me about the delays of their underwriter.
It's not only about the money but a question of principles; HSBC took one day for underwriter to offer a mortgage of 40K less than I required, Barclays is my bank and don't stick to the time expectations they set
Thanks/Regards
Julien
0
Comments
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Good luck with that JulienI 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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