Estate Agent making me use in house Mortgage Advisor

ACG

HSBCs surveyors take 6-7 weeks longer than any other lenders surveyors? What a load of rubbish.

Get an email from L&C saying how long it is taking on average to get the survey instructed.

It really frustrates me how they can affect a sale/purchase without saying anything wrong when it does not line their pockets. The sooner these agents get regulated the better.

Lokolo

I used the HSBC one day service. I booked on 28th April an appointment with my branch for 5th May, so a week later. This was successful. On 6th May I recieved a call from suveyors asking me to pay the cost for a Home Buyers Report. Paid. 9th May they phoned to book the survey. The survey is today, 17th May. They booked it through the EAs I am buying off so no idea if it could have been done sooner.

First Direct however, I cancelled my application after 6 weeks as they still hadn't passed it on to the underwriters.

dunstonh

You would also be able to complain to the employer of the mortgage adviser and the complaint would be considered under the FCA regulated process as the mortgage broker would be fraudulently representing their services.

Ask the mortgage broker for the name and address of the complaints department as you feel you are being conned into using their services and wish to make a complaint. Watch them backtrack PDQ

Smodlet

"Make you"??? What everyone else has said. In any situation remotely like this, I find it very useful to remind myself, yet again, that I am the customer, here.

This next is, of course, purely a personal opinion and in no way actionable. Since the decline of door-to-door double glazing sales, I would venture that estate agents have overtaken them as the biggest BS merchants in the country.

OP, it is all a learning curve and the day you stop learning, you might as well stop. Good luck.

richdeniro

I've decided to go with the L&C HSBC deal obviously. How do I politely tell the Estate Agents broker this?

Senior_Paper_Monitor

Sorry, I'm not qualified to advise on the 'polite' way

dgtazzman

Just tell them you appreciate the advice given by their inhouse broken, but you feel the deal proposed by said broker isn't the most suitable deal available to you.

Also tell them not to worry about the valuation report as you have spoken to others who have used HSBC for mortgages recently and from their experience, it has not taken nearly as long as they suggest to get surveys done.

Keep it brief, to the point and polite.

As for HSBC surveys. I applied for a mortgage with them just under a month ago via their website. Initial application to full mortgage offer took 2.5 weeks and that was including a bank holiday weekend. The survey was done 1.5 weeks after the initial application. HSBC use the same companies several other lenders use for their valuations, so there is no reason it should take them longer to get it sorted than the next lender, it's just hot air and the EA trying to secure an extra commission.

I would be a bit worried they might try to put you in a bad light with the vendor, that is at least what he seems to be suggesting in a polite way. I'd be tempted to follow up with a letter directly into the vendor's mailbox to reassure them you will be moving things on as fast as possible and that if they have any questions on progress, they can contact you directly (so as to avoid the EA telling them porkies).

Thrugelmir

Lokolo wrote: »

First Direct however, I cancelled my application after 6 weeks as they still hadn't passed it on to the underwriters.

First Direct is part of HSBC.

dgtazzman

I've been getting the impression First Direct mortgages are dealt with by a different team/center than HSBC application as I've been reading similar stories from quite a few people on here, i.e. HSBC applications going through smoothly, while First Direct applications drag. Shrug...

banks4u

I read the first post, I hate agents like this. I would complain to the agent and Twitter the FCA. I used to work as a mortgage compliance officer and this is wrong!!! The FCA would have a field day. London country are crap anyway, i would never use them.

Haart agents do this I was so annoyed I informed the FCA.