Useless Mortgage Broker

cahillg81

GipsyHillClimber wrote: »

I think a complaint is wholly justified in this scenario. OP has most likely used the services of a broker to relieve some stress from needing to chase lenders, check forms completed by the broker for mistakes etc. yet he's now needing to do both. As long as the OP has made the broker aware previously that he wasn't happy with the service, it the poor service continues then it should definitely be highlighted to their management otherwise the broker will probably continue to be dire at their job because people are too "polite" to complain.

We have one side of the story. Once a borrower appoints a broker they should have no dealings directly with the lender.

Why the applicant was contacting Virgin I don't know. Rome wasn't built in a day.


I don't know the brokerage involved but if I had made a call late Thursday afternoon I wouldn't be chasing a lender on the Monday and then taking to an internet forum to query the competence of said broker.


It is possible the broker is incompetent, but you have to believe that said broker is more competent than a First Time Buyer.


Personally, I always try and return calls on the same day but sometimes this just isn't possible depending on levels of business. From the sounds of it the broker has an administrator as well who is involved in the process. I'd give people at least 2 working days to come back to me ordinarily. Most lenders work on a minimum 2 - 3 day turn around and intermediaries have a process which they follow.

Verix

nkkingston wrote: »

You mention a developer. By any chance, was the broker recommended by the developer? It might explain why you're getting poor service, if they've already got their kickback from being the in house adviser anyway.

Just FYI that is not how most mortgage advisers work. They will make their money from selling insurances and from commission from the lender; neither of which will happen unless the client is willing to proceed with them.

For what it's worth I think you are right in feeling annoyed, though complaining to the house builder/site negotiator might actually have more of an impact. Wouldn't expect you would receive any kind of financial reimbursement as up to this point you have not really shown to be out of pocket.

cahillg81

Graciepie88 wrote: »

Just by way of reference, I work in a firm of solicitors so I am fully aware how the house buying process works.

I probably wouldn't care that I still haven't heard from my broker if I hadn't picked up on other mistakes. Bearing in mind it's now the third working day with no response or peep out of them.

As it happens in my last email to him I also asked a question, which isn't a complicated one but remains unanswered.

I realise that people have more than one client but a quick email update isn't hard to do.

Ironic because more often than not, in my experience as an underwriter and mortgage broker Solicitor Firms are normally the most incompetent part of the process.

ShoesAreDamnExpensive

I have to but in here and say some of the replies have not been constructive or helpful or in anyway helping the OP to calm down and so I do wonder why people feel the need to contribute such horrible comments.


Buying a house is stressful and I would guess with others that paying for a broker (as she has said in her original statement) was to help with this and in effect they have been a hindrance. I'm guessing if they hadn't been so useless at first she wouldn't have felt the need to phone Virgin just a few days later to check the status of the application. Mistakes, not returning calls, generally just acting like you don't give a !!!! is hardly what you go into the service expecting is it? A thousand paper cuts and all that.


And actually it is my experience that people who complain are actually better at their jobs - they have a high standard not just of others but of themselves. The best standard of service I have ever had has been with people who I heard were a nightmare to work with but they sure as hell got the job done.


To the OP - I think you are justified in your upset and the stress is not helpful when you are clearly worried about the whole thing already. There isn't much you can do but you can name and shame and when it comes to paying their bill argue for a reduction. There are plenty of review websites - who knows - your experience might be the same for other clients of the broker and if new clients don't know this then how can they avoid them?

Graciepie88

ShoesAreDamnExpensive wrote: »

I have to but in here and say some of the replies have not been constructive or helpful or in anyway helping the OP to calm down and so I do wonder why people feel the need to contribute such horrible comments.


Buying a house is stressful and I would guess with others that paying for a broker (as she has said in her original statement) was to help with this and in effect they have been a hindrance. I'm guessing if they hadn't been so useless at first she wouldn't have felt the need to phone Virgin just a few days later to check the status of the application. Mistakes, not returning calls, generally just acting like you don't give a !!!! is hardly what you go into the service expecting is it? A thousand paper cuts and all that.


And actually it is my experience that people who complain are actually better at their jobs - they have a high standard not just of others but of themselves. The best standard of service I have ever had has been with people who I heard were a nightmare to work with but they sure as hell got the job done.


To the OP - I think you are justified in your upset and the stress is not helpful when you are clearly worried about the whole thing already. There isn't much you can do but you can name and shame and when it comes to paying their bill argue for a reduction. There are plenty of review websites - who knows - your experience might be the same for other clients of the broker and if new clients don't know this then how can they avoid them?

Thanks.

My partner left them a voicemail yesterday afternoon asking if someone could call us. We've not had a call back, and my email remains unaswered. I'm sure a lot of you will be glad to know, we've not tried to make contact with them today.

It's more the combination of errors/lack of communication in general throughout the whole process that has me irritated. If they had made a couple of mistakes but been quick to respond and sort it out I wouldn't have an issue.

I mean, this is the first mortgage broker we've ever dealt with but they couldn't even get it right when it came to an important piece of paperwork, that if incorrect , would cause refusal at a later stage. And I have him telling us it didn't need to be amended in writing.

I've Googled them for reviews and it's very mixed, some saying they're excellent, some saying they're poor and a number mentioning poor communication received. We may have just got a bum deal in the advisor we were allocated, we just don't know.

I don't think it's unrealistic to at least have expected an email response to the question I asked by now as actually, albeit a simple one, the answer stops me from completing some paperwork I need to do which holds things up unnecessarily.

Anyway, everyone is entitled to their opinion and if people think I'm overreacting then so be it.

I shall sit on my hands and patiently wait it out. :rotfl:

Thrugelmir

Graciepie88 wrote: »

Anyway, everyone is entitled to their opinion and if people think I'm overreacting then so be it.

Every time I moved house I've vowed never to do it again. As the most unexpected curved balls can come your way. If you understand the process and are prepared to do the leg work. Then a broker isn't a necessity. Likewise find yourselves a solicitors that can be relied upon.

Graciepie88

Thrugelmir wrote: »

Every time I moved house I've vowed never to do it again. As the most unexpected curved balls can come your way. If you understand the process and are prepared to do the leg work. Then a broker isn't a necessity. Likewise find yourselves a solicitors that can be relied upon.

Well, I work with my solicitor so they can't hide from me :rotfl:

cahillg81

Who are the brokers involved? If you feel so strongly I'd name them. Review sites again are good but the sample size isn't normally great on them in my opinion.


You never know maybe someone on here works for the brokerage concerned and can help you out/point you in the right direction.

But then maybe they will run for cover if it is their firm :-)

FWIW, First Time Buyers can be a gold mine for a broker as they could and should be a client for life as long as you treat them well. So it's a shame when people suffer a bad experience, I'm just not a fan of complaining unnecessarily.