Broker email response - how long?

kingstreet

We are newbuild specialist brokers and we work as follows;-

property to sell - high level affordability qualification and illustrations issued with note "sale agreed" required before able to proceed

proceedable - illustrations issued and agreement in principle offered and obtained within two working hours.

Many people don't think it's fair we prioritise proceedable buyers ahead of them, but if buying a second-hand home, the market works in exactly the same way.

We do what our builders want. If they want to take a reservation on someone unable to exchange contracts in 28 days, that's their affair. On the whole, they don't.

DandelionPatrol

kingstreet wrote: »

.... We do what our builders want. If they want to take a reservation on someone unable to exchange contracts in 28 days, that's their affair. On the whole, they don't.

Who is your client? Builder or buyer?

kingstreet

In terms of providing regulated mortgage advice, the buyer is the client.

However, in terms of proceedability we have to ensure the client fits in with the builder's requirements and build timescales.

We have to do exactly the same thing with EAs if our client is buying second-hand. Not many vendors want to accept offers from non-proceedable buyers then sit around and wait for them to sell.

amnblog

If anyone if waiting two days for a broker to respond to your email either the email was not received or the broker has missed it.

Otherwise:

They don't want your business
They don't need your business
They can't handle your business

Wh05apk

amnblog wrote: »

If anyone if waiting two days for a broker to respond to your email either the email was not received or the broker has missed it.

Otherwise:

They don't want your business
They don't need your business
They can't handle your business

and they don't deserve your business!

ACG

I must admit there are times I get enquiries and I fall in to one of those 3 amn - but even then I still reply.

Unless its one of those ridiculous enquiries - I earn £50,000 but can only evidence £10,000 and want to buy a house for £350,000 with a £200,000 deposit from ermmmm whoever it needs to be from.

YoungBaker

Thanks again for all your replies, I don't know which of the categories from the 3 I fell into but the broker got back to me last night. Agreement in Principle has been submitted and approved today so we are full steam ahead.

Thanks again

BlessingMuts

I had exactly the same case. I was refered to by Miller Homes to Firstmortage brokers and told to ask for Chris Cherry in their Edinburgh West-End branch. I provided everything to him as I had previously attempted to buy two years before and didn't complete so now I knew what was required. After providing everything to him it turned out that there were issues with the bank leading them to turning us down even with an initial AIP. Chris said he didn't know what it was but would try finding out before trying another bank as we still had options. After that never heard from him, I emailed and called but never got any response back. It would have been professional to just say "look your situation is a mess I can't help you". Simple I would never have taken it against him as that's professional honesty.


Anyway I went back to the mortgage broker I had used before who oddly enough still remembered me. What do you know the same issue came up as before. However this time the mortgage broker seemed to be working closely with the business relationship managers at the bank and managed to find out that it was my wife's use of her middle name and not her first at work. Thus her payslips were in her middle name and not her first. They just wanted surety that she was one and the same person which we provided and short to say within a few days we were given the mortgage and exchanged the following week.


In closing touch Chris Cherry of FirstMortgage Edinburgh at your own risk