Mortgage broker refusing to find mortgage

Jyashi

I am a first time buyer and I work in a family business and am receiving salary normally. The amount i am receiving is sufficient for me to get the house i want and the mortgage broker admits this.

But in the past there had been some errors whereby the amount in my payslip and the amount paid in my bank account were different due to accounting errors. But this error was explained in a letter from the company to the mortgage broker. This happened on two occasions.

But now my mortgage broker is saying that he has exhausted all the lenders list and cannot find someone who can lend to me. I have already paid his broker fee and now all he is suggesting is that i go to my local bank. He also wouldn't contact me in the past on weeks on end. I would have to leave him several voicemails and emails and he still wouldn't respond and be on annual leaves way too often.

Does this sound like a genuine broker? What are my options now? I know it's a family company but we are operating as a regular company with taxes being paid and salaries being paid in my account.

Is there some way i can force my broker to find lenders or get a refund? The contract states the fees are non-refundable.

Browntoa

your payslips don't match what was paid into your bank , its set alarm bells ringing for all the mainstream lenders who suspect some sort of fraud probably

David_White

I would assume they are a genuine broker but have probably dropped your case because they're not happy with your explanation regarding the payslips/bank statements.

There's not much merit in forcing them to find lenders for you as that simply won't work, so I'd use someone else.

In regards to the fee you've paid, I guess it'll come down to what your agreement with them was. There is of course a complaints procedure you could follow.

haras_nosirrah

How many times have these accounting mistakes occurred?

Once could possibly be explained or sorted

Multiple could look like creative accounting to get the mortgage you want

While you may not understand why the broker is backing away he could potentially lose his job and be fined/ criminal record if he submits an application he suspects may be fraudulent. That would be enough for most brokers to leave well alone.

densol_2

Was the amount paid into your bank more or less than the wage slips ? How did this happen if the company is using real time PAYE and paying the tax and NI at the same time?

I agree with the other posters - the broker doesn't want to touch you with a barge pole as he suspects dodgy goings on.

ACG

Completely agree with what has been said, there is a lot of Mortgage fraud going on. Im not suggesting you are committing fraud but we as brokers can not afford to risk it as its our livelihoods at stake.

That being said, I can not understand how your fee is enforceable. Even if it was chargeable on a Decision in Principle or Application - the broker would have had payslips and bank statements beforehand, so they would have known before doing any real work on the case?

You should have been given a Terms of Business at the outset, on there it will say what to do in the event of a complaint.

dunstonh

Once bitten, twice shy.

Payslip errors may happen once in a blue moon. Multiple times just sets off alarm bells and looks like one of the most common mortgage frauds there is. That is where payslips are created by fraudsters.

AnotherJoe

But now my mortgage broker is saying that he has exhausted all the lenders list and cannot find someone who can lend to me
====

That's not same as "refusing to find a mortgage" is it ? !

It means he cant find anyone who will provide you one, a different thing entirely.

dunstonh

AnotherJoe wrote: »

But now my mortgage broker is saying that he has exhausted all the lenders list and cannot find someone who can lend to me
====

That's not same as "refusing to find a mortgage" is it ? !

It means he cant find anyone who will provide you one, a different thing entirely.

It may be semantics. Easy to say that they have exhausted options rather than to outright refuse.

Thrugelmir

Jyashi wrote: »

But this error was explained in a letter from the company to the mortgage broker. This happened on two occasions.

What was the explanation given?

Jyashi

I have been dealing with this broker since about July and the payslips were in order for the first house that i was about to buy but before the contracts were about to be signed the seller pulled out and i had to search for houses again.

I found another house only this time there were errors in the amount paid in the account because of a person who usually doesn't make salary payments making errors in payment and this reason was also given in a letter.

The fact that my payslips were in order in the past does that count for anything?