Mortgage broker fee

Dave_Ham

Be useful if you can detail Mum's income and situation in terms of value and mortgage, so at least someone on here will give an opinion whether Mum can achieve the finance required.

In reference to the broker, should be in the terms as stated although if you were told it would be refunded, you may still have grounds to push back..

smnb08

Thanks everyone for ur time to reply, asked my mum to dig out all paperwork to see if we can find some terms and conditions regarding the fee.

My mums income is just over £15,000 pa this is made up of state pension & a couple of works pensions. She owns her house outright which is worth approx £150,000 and wants to borrow £25,000 to finish an extension which is costing £45,000.

Regarding the credit problems, it's from 5 years ago a CCJ for approx £350 now satisfied and there are two defaults from around the same time on credit cards which are also settled and are closed. She has no outstanding debts at all atm.

This broker has been rather useless and has just wasted our time as far as I'm concerned (something we don't have a lot of as builder is as we speak building said extension) she never even checked my mums credit report until after the first mortgage was declined! She has tried others but came back and said that the problem was that no one accepts an income of less that £16,000....to which I replied "u knew what my mums income was from the very start!"

Ild never expect anyone to work hard and not get paid and if I thought someone had tried their best I wouldn't be interested in trying to get the fee back.

We have got another broker who specialises in all of the above working on this for us atm and its with the actual lender now who has rang and asked mum some questions today, so just waiting for a decision now.

csgohan4

Unfortunately as with anything, there will be good ones and bad ones either side of the fence. Just make sure you leave a review for them on rated website so other people know about them.

Let_Us_See

Shame there is no website where advisers can rate clients..........that would be interesting! :j