Switching Broker mid application

mrstick

Hi all,

I wondered if any knows how possible it is to switch mortgage broker mid-application?

Basically, we are buying a house through Your-Move. We are going down the let-to-buy route, and wanted to release some equity from our existing property. Because of this, we decided that going through a broker would be better as the mortgages needed to be orchestrated in the right way to ensure that we could use the equity towards our deposit for the new house.

We used Your-Move as our broker because we liked the fact that we were able to go into the branch and speak face to face with our advisor etc. (we had also got advice through L & C, but my wife wasn't so keen on me doing everything over the phone).

Unfortunately, as soon as Your-Move get your money, you are basically farmed off to a call centre, where someone that is your "mortgage advisor's PA, but based in a different office" deals with your case.

It has been a constant battle from this point onwards. I was told that my lender for the purchase required proof of deposit, because the equity didn't fully cover the deposit. Copies of all this information were taken in the branch a month prior to this request, so the "PA" was going to contact the branch and give me a call back if there were any problems.

A week later, I called them up and the "PA" was on holiday. The other lady that I dealt with said that they were waiting for proof of deposit and also that the BTL lender had requested some other information too...

Anyway, I took the information into the branch again, so that they could certify the documents and email them up to the call centre. A couple of days later I called up and the original PA was back from her jollies and said that they were waiting for me to take proof of deposit and info for the BTL lender into branch.......

Another couple of days of chasing (which I had to do as the PA didn't contact the branch about it as she had said she would) and the lenders have now apparently been sent the information.

That's where we are at now, so I'll be calling them again tomorrow to see what farcical action has taken place since.

I was under the impression that the broker should have been there to provide all of this information to the lenders as required, which is why they took copies of all the relevant information during the application process.

So what I want to know is how reasonable it is to switch to a less incompetent broker at the stage that I am at now?

Obviously, I have no reference numbers for any of the applications as the brokers have been 'dealing' with that.

I have my formal complaint pretty much ready to go anyway, but I am also aware that my broker is also the agent for the vendor.

The whole purchase is basically chain free, so I know that this part of it is probably taking much longer than the vendors expected, so there is a possibility of them pulling out.

Am I basically going to have to suck it up?

Thanks in advance.

Hoploz

Well if the lender has all the info now then your broker won't need to do much else really so you're probably over the worst tbh.

mrstick

Well, I hope so!

I'll have to keep calling them to find out if the lender has asked for anything else though... :wall:

csgohan4

Your wife still regret not doing things over the phone?

Never use an estate agents services, poor service and high fees.

mrstick

Yeah, I've probably got that argument won for any future house purchases that we may want to undertake!

It has also helped us to narrow our letting agents down to not include Your-Move or Reeds Rains, so it's not all bad.