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Broker took too much from my card!

MercilessKiller
MercilessKiller Posts: 7,143 Forumite
Part of the Furniture 1,000 Posts Combo Breaker
in Mortgages & endowments
Hi All

I got a call last night asking me to pay the £285 valuation fee. It was agreed the £499 product fee would go onto the loan so I didn't need to worry about that.

I gave him my card details over the phone, and when checking my bank this morning noticed that £784 has been taken from my card!!!!!

I've sent him a note but the payment is with the bank (he must have been entering my details into their website or something and ticked a wrong box)...

Realistically, will the bank refund the money? If not, would I be able to claim it from the broker company? I have it in writing (via SMS) that the arrangement fee of £499 shouldn't have been charged....

Thanks!
[FONT=Arial, Helvetica, sans-serif]"The internet is a great way to get on the net."
- Bob Dole, Republican presidential candidate[/FONT]
«1

Comments

  • kingstreet
    kingstreet Posts: 39,316 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Phone the broker and ask what happened.

    it sounds like they've ticked the pay upfront box instead of the add to loan option.

    Never done it myself, so no experience of getting the money back but Nationwide are usually pretty good on stuff like this.
    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.
  • MercilessKiller
    MercilessKiller Posts: 7,143 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    It's a pretty substantial mistake to make - Luckily I had enough money to cover it, but that payment could have gone over my balance and caused me some negative scoring towards my credit report at the worst possible time!!!
    [FONT=Arial, Helvetica, sans-serif]"The internet is a great way to get on the net."
    - Bob Dole, Republican presidential candidate    [/FONT]
  • dunstonh
    dunstonh Posts: 120,034 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    MercilessKiller wrote: »
    It's a pretty substantial mistake to make - Luckily I had enough money to cover it, but that payment could have gone over my balance and caused me some negative scoring towards my credit report at the worst possible time!!!

    It probably wouldnt have done as the transaction would have been declined as that amount would be balance checked.
    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.
  • MercilessKiller
    MercilessKiller Posts: 7,143 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Just got a text from Nationwide - My mortgage application has been cancelled.

    Assuming he's re-applying.. !
    [FONT=Arial, Helvetica, sans-serif]"The internet is a great way to get on the net."
    - Bob Dole, Republican presidential candidate    [/FONT]
  • kingstreet
    kingstreet Posts: 39,316 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    That would be one way to deal with it!
    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.
  • MercilessKiller
    MercilessKiller Posts: 7,143 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    He's calling back later to take my card details to reapply. So now I'm going to be £1k out of pocket until Nationwide refund the fees from the failed attempt which I imagine will take a week.

    This is turning out to be a joke! Grr
    [FONT=Arial, Helvetica, sans-serif]"The internet is a great way to get on the net."
    - Bob Dole, Republican presidential candidate    [/FONT]
  • kingstreet
    kingstreet Posts: 39,316 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    MercilessKiller wrote: »
    He's calling back later to take my card details to reapply. So now I'm going to be £1k out of pocket until Nationwide refund the fees from the failed attempt which I imagine will take a week.

    This is turning out to be a joke! Grr
    Refund is usually about ten working days.
    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.
  • MercilessKiller
    MercilessKiller Posts: 7,143 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 19 November 2014 at 1:10PM
    You have to be kidding me - So I'm now £800 out of pocket for 10 days thanks to my brokers mistake? What the hell....

    I'm so angry right now!

    I have things to pay for this month and not enough money to cover it now thanks to this!!!! What am I meant to do?
    [FONT=Arial, Helvetica, sans-serif]"The internet is a great way to get on the net."
    - Bob Dole, Republican presidential candidate    [/FONT]
  • dunstonh
    dunstonh Posts: 120,034 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I bet the broker is mortified. It was probably little more than a tick box (or untick) that resulted in this.

    I can understand your frustration but it would have been a genuine human error. If it is going to leave you short, then ask the broker to write a letter confirming that the amount taken on debit card was incorrect and is being refunded. The bank will normally accept that and give a temporary overdraft facility to the end of the month.
    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.
  • MercilessKiller
    MercilessKiller Posts: 7,143 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    dunstonh wrote: »
    I bet the broker is mortified. It was probably little more than a tick box (or untick) that resulted in this.

    I can understand your frustration but it would have been a genuine human error. If it is going to leave you short, then ask the broker to write a letter confirming that the amount taken on debit card was incorrect and is being refunded. The bank will normally accept that and give a temporary overdraft facility to the end of the month.

    I thought the point of a broker was to avoid little errors that can be quite costly ha!

    Thanks - Will do.
    [FONT=Arial, Helvetica, sans-serif]"The internet is a great way to get on the net."
    - Bob Dole, Republican presidential candidate    [/FONT]
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