Mortgage broker - how many mistakes is normal?

Georgiecoh

I was wondering if someone may shed some light, I would like to know how many mistakes are normal to make on a Natwest application? are they particularly difficult?

I dont know whether I am just overreacting but she is making so many mistakes.

I go an accept subject to valuation on Friday and the valuation was booked in.. NOW they are saying that he has made a mistake saying that my loan amount requested was 49,995 ( near HALF that of what i need) Also that the valuation was 124,995 but I am paying 87,495 for it. this is SO wrong!

she has also got my DOB wrong TWICE! And shed lied to me about it saying that they have made the mistake when they rang me personally to tell me.

How many mistakes is acceptable! I feel this is beyond a joke now! They could decline me now based on affordability. so annoying!

MJP43

And this is the difficulty.

The brokers on here consistently champion the benefits of using the profession, and rightly so however like all trades there are good and bad within it, and using any tradesman for the first time will be an unknown quantity.

Paully232000

Georgiecoh wrote: »

I was wondering if someone may shed some light, I would like to know how many mistakes are normal to make on a Natwest application? are they particularly difficult?

I dont know whether I am just overreacting but she is making so many mistakes.

I go an accept subject to valuation on Friday and the valuation was booked in.. NOW they are saying that he has made a mistake saying that my loan amount requested was 49,995 ( near HALF that of what i need) Also that the valuation was 124,995 but I am paying 87,495 for it. this is SO wrong!

she has also got my DOB wrong TWICE! And shed lied to me about it saying that they have made the mistake when they rang me personally to tell me.

How many mistakes is acceptable! I feel this is beyond a joke now! They could decline me now based on affordability. so annoying!

I would have to question if i would carry on with this mortgage broker. I would be finding another one.
Making basic mistakes is one thing, but then trying to cover it up by lying about it. Would not fill me with confidence that she has/will make other mistakes that she will then not tell me about.

Fair point about there being good and bad in all walks of life, you have apparently found the bad, now go and look for the good.

ACG

There is no hard and fast rule about how many mistakes are acceptable. It would be nice to say 0, but realistically mistakes do happen.

It is a little worrying they have corrected a date of birth with the wrong one.

Natwest do ask how much the property is valued at and how much it is being purchased for - so that may have just been a "minor" error - if the application is subsequently declined because of the loan amount they would have to refund you the valuation fee.

Georgiecoh

Thanks you for replying,

Paully232000 - Yeah I think I am more annoyed at her trying to cover it up! its really frustrating!

ACG - hopefully they wont decline it, have you seen it often?

lonestarfan

You say 49995 is near half that of what I need. I interpret that like you need approx £99000 but the purchase price is only £87495. How can you borrow more than the price you are purchasing it for?

Georgiecoh

lonestarfan wrote: »

You say 49995 is near half that of what I need. I interpret that like you need approx £99000 but the purchase price is only £87495. How can you borrow more than the price you are purchasing it for?

That's what the broker put on the application but its COMPLETELY wrong!

The actual figures are:
£124,995 - purchase price
£87,496.5 - Loan Amount (mortgage)
£37,498.5 - Deposit (30%)

I think she has entered someone else's details. I don't know how you can get it THAT wrong.

lonestarfan

That makes more sense
You'd expect them to get that right!
I think your might be right in that they've keyed in someone else's details.

bebewoo

Buying a property is probably the most expensive and emotional purchase you make. So you need to be confident in the competence of the people involved.
If you have not made any financial commitment to this broker then I would go elsewhere and also tell her why.
One mistake is one too many, the next one she makes could cost you money.

Georgiecoh

Thanks Bebewoo!
I guess you get what you pay for ! shes free, she is attached to my house builder!

kingstreet

On submission of the mortgage application, we email to every client copies of their;-

terms of business
completed factfind
accepted key facts illustration
mortgage application
suitability letter.

Believe me, this is a very, very good incentive for getting things absolutely correct.

Usually, we have a client come back to us and say "my employment with XYZ started on 13 April 2015, not 1 April 2015" and we have to tell them they put "April 2015" on their original data capture form, so we didn't know that and had to assume 1st.