Can I leave my broker?

Bingo93

Hello, I am a FTB along with my girlfriend, we decided to use a mortgage broker to sort out out loan (after being promised the earth no less) and have since been let down and lied to by said broker.
We were told that the service fee would be dealt with via commission from the lenders (which turned out to be false and is now £500) and also were promised that the application would come back to us with an offer within 2 days, again this is not correct.
We have been told several times that the lenders computers are not working and that a application in principle wasn't possible due to 'problems with an address'.
We have since been in branch and got a MIP within ten mins.
We are in danger of losin the house we have an offer on and are not getting any straight answers from our broker!
We have not signed any paperwork of any kind and the bank (natwest) have advised us to cancel the application (if there is one) and go directly in branch.
The stipulation from the broker stated only to be paid on completion of mortgage.
Are we able to leave her without fines?
Many thanks,
Bingo.

MortgageMamma

Yes, if you can prove the broker has lied to you then dump them like a sack of rubbish. If you have your aip from the branch keep it as a record that you had to get the aip yourself due to her failing.

You should have been given a document at your first meeting with the broker detailing fees and if they would be paid any commission. You should also have been asked to sign a client agreement agreeing to the fee's.

I don't know of a lender who can make a mortgage offer in as little as two days particularly if their systems cannot even do a decision in principle! It might be possible and I will stand corrected if so but not in my experience.

Sounds like you've been misled, speak to her about it, if she gives you the hard line threaten to make a complaint and put the phone down. I doubt you will hear back!

I hope this one bad experience does not put you off seeking professional advice in future.

MM