What to expect from my mortgage broker?

MissBizzita

Thanks for that suggestion, don't know why I didn't just do that before!

Just spoke to Leeds. Valuation came back the same as the amount we've agreed so that's a relief! Everything is with underwriters now.

Pretty sure my broker won't like me going behind their backs, oh well!

MissBizzita

Hmm, the plot thickens...

Finally had a reply from broker, albeit conveniently ignoring some of my questions. They said that Leeds have a 5 day turnaround so won't know outcome of valuation report until early next week...

Do I call them out on this lie and admit I've spoken to Leeds, or just sit happily on the info I've been given?

ACG

They may mean that you wont know the outcome of the underwriting until early next week?

MissBizzita

No, it was in answer to my question about when I would know the outcome of the mortgage valuation that took place on Friday. They specifically said that they wouldn't find out what valuation had been given until early next week.

betmunch

What the guy at L&C said is probably true because hes waiting for them to contact him rather than ringing up and asking like you did.

Its a common thread with them recently, once you've agreed to doing the application their service goes down the drain!

enthusiasticsaver

Incidentally why did you go to a broker in the first place? I can understand if you have a problematic mortgage application but from the sound of it yours would be fairly straightforward. I have always gone direct to banks/building societies to make mortgage applications.


We sold a btl flat last year and had terrible grief with solicitors and management companies replying and actioning and my advice is to keep pestering within a normal timeframe - ie give them 2-3 days to get back to them but if they do not then respond then phone or email again.

kingstreet

We'd be chasing up a lender for return of valuation no later than two days after it's done.

Pretty much every lender's SLA is 48 hours, so it's realistic to see if it's back by then.

MissBizzita

Yeah, all of the negative reviews I've come across tell the same story! Great until full application, then pretty rubbish!

I suppose if he is waiting on an update rather than being proactive, then it might be true that he won't hear until next week.

Still don't know whether to tell them that I've spoken to Leeds directly or not. I'm guessing they won't like it very much but at the same time it may prompt them to be a bit more swift in getting back to me...

Or am I just being a complete nightmare? I fear that I am... But this is a hell of a lot of money, a huge commitment and my dream house, so surely they can understand that given what's at stake I'm likely to be somewhat anxious!

MissBizzita

kingstreet wrote: »

We'd be chasing up a lender for return of valuation no later than two days after it's done.

Pretty much every lender's SLA is 48 hours, so it's realistic to see if it's back by then.

48 (working hours) would take us today... So I'm not being completely unreasonable then!

He also said I won't get to see a copy of the report until I get my offer - is that correct?

kingstreet

As the offer will normally be produced within a day or two of the valuation being signed-off, it's normal for them to be posted together.