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The role of a BDM
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I think he used to call up and say he gave the wrong information so they need to honour it?
Not sure how that would play with the FCA post MMR ACG?I 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 -
TCF - incorrect info given so they allowed it? Just think if all lenders did that how much easier our jobs would be.
He left around the time of MMR and went to a new company but he does not have the same flack as he had in his previous role.I am a Mortgage AdviserYou 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.0 -
Just come off the phone to the broker and hhe reiterated that the IRM has authority. In fact the word he used was "mandate"0
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Must be a very small lender then.I 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 -
It isn't.
It's Skipton0 -
Skipton BDMs do not have a mandate to make decisions BUT I do get on very well with my BDM and he has managed to swing a few cases for me in the past.I am a Mortgage AdviserYou 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.0
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I asked the question directly twice. He was very specific.
I'm now wondering what else he was lying to me about.0 -
Sometimes its just easier to tell people things like that so they do not worry.I am a Mortgage AdviserYou 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.0
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Trouble is what do you say to your client if the mortgage does not get approved for reasons not related to the property ?
He wasn't cheap and was paid on application.0 -
It is of course nonsense.
An individual making lending decisions whilst in a sales role at a Lender the size of Skipton is a major risk to the business.
I suspect the broker is spinning you this line as it is easier than telling you the truth - whatever that is.I 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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