mis-advised by broker?

Dave_Ham

If the question and answer is as stated, then you can apply for recourse as these are specific questions and answers that as you have found to be incorrect.

Go get em..

nothomealone

We would have not of exchanged if we were going in blind as to what our mortgage would be. The solicitor never mentioned this. I asked specific question about keeping same rate when offer was extended and was told in no uncertain terms yes a 6 month extension.

The developer is now back tracking saying we knew it would expire all along when we exchanged they said dont worry its easy to extend. Do i speak to the solicitor they set us up with or get independant advice?

Dave_Ham

Before you incur additional cost (as independent advice would cost you) you said you have in an e-mail asking the question specifically about the product and the answer was specific and incorrect.

This will be the easiest to verify.

Unless you are purchasing with a bigger than average mortgage value, I did not think Santander's rates have changed hugely over the last months.

nothomealone

The fee and slight rate change bring in to in excess of £2k more over the term. While its not alot I cant take being shafted any longer with this house. Just found out the developer who give them selves an extra month being october hascsaid the earlyiest will be november now.

ACG

Its good that you have that email, I would just forward that on with a breakdown of how much extra you expect it to cost and ask what they intend to do about it before you take the matter to the financial ombudsman.

I would also possibly make a complaint to the solicitor for not advising you about the potential issues of exchanging with an offer that would expire.

Sounds like really poor advice/service on both counts.

The solicitor I use would have been all over this and I would never go against what the solicitor advises. Dont forget, you are paying for both of these one way or another. They should be working in your interests, not their own on the developers.

This is why using a developers/agents solicitors/advisor can be bad - they know where their bread is buttered and so look after the them rather than the client.

Bantex_2

Thought rates had dropped over the last month or two, why not go to another lender?

nothomealone

The offer we had beats anything currently offered on the market.

nothomealone

Would it be advisable to change lenders?what costs would be associated with this?