Broker or Lender to blame? Application submitted 2 weeks ago, no valuation booked yet

Bossypants

Just trying to work out who is at fault here. Long story short, the broker submitted the application on June 23 (Thursday), saying that I should expect the valuation to be booked in for the following week.

By the Monday I had not yet heard anything, so I called the broker, who said that the lender (Woolwich) have a 48 hour turnaround, so 'they would probably be looking at the application in the afternoon', and I should expect to hear from them the following day (Tuesday).

Tuesday came and went with no contact, I sent the broker an email on Wednesday and got no reply but didn't get a chance to follow up until Friday. On Friday I couldn't get through so left a message, she called me back almost immediately and said that Woolwich claimed to have been trying to call me during the week to get the valuation fee paid, but had been unable to get through. I find this very hard to believe, as I have my phone on me at all times for work, and I had no missed calls from unknown numbers that week. Anyway, I gave her (the broker) my card details as well as the EA details, so that she could pass them along and speed things up.

By end of day yesterday (Monday), my account had not been charged and the EA not contacted to arrange the valuation, so I called the broker and left a message. This morning I called her again and she claimed to have sent me an email the previous night (I say 'claimed' because I have never had a problem getting emails from her before...), stating that the lender needed me to pay the booking fee up front, since I am borrowing 5x my salary, so they could not put it on top. I told her fine, charge it to the card I gave her on Friday, and she indicated that this would be fine and that her assistant would call me to give me an update later.

At 6pm I have not heard from the assistant (could not get through on the phone) and my account still has not been charged. I have sent the broker an email asking for an update, but my question is, am I being unreasonable or do I need to switch brokers? This lady works for a major London firm who are normally fee-paying, but whose services I get for free as part of an arrangement with my employer. I have worked with her before and she has been good, but I feel like I am having to chase far too hard for what should be the simplest of things, and nothing moves without my chasing. The EA is understandably chasing me in turn.

Thoughts/perspectives?

MortgageMamma

Woolwich are terrible, I avoid them at all costs. Reasonable products, terrible systems/customer service/broker service.


Many brokers spend hours on hold. Have a friendly chat with your broker, if you need to rush Woolwich could hold you back.

Bossypants

Thanks MortgageMama, appreciate the perspective. The reason we are going with Woolwich is that I have a small mortgage on my current place which I could port at the existing rate and just 'top up', plus they are willing to lend 5x my salary which I understand some lenders are not.

I am not in a rush as such, I am just anxious because the property is a bit odd (350 year old cottage 'shell' but totally redesigned and modernised inside about 15 years ago, on an unadopted road, although it is fully maintained by the council, and directly opposite a recycling plant). Given this, I am worried that Woolwich might get spooked and refuse to lend, so I really want the valuation done as quickly as possible, so that I know what I am potentially up against.

Good to know that it is likely Woolwich and not my broker, I really like her and as I said she has been great on past transactions (plus she gets me a better rate than any others I have spoken to).

amnblog

To be fair to to Barclays they are perfectly acceptable to deal with when you have experience with them.

Your issues sound like problems with communication, nothing else.

Make your dissatisfaction clear to your broker and give her the opportunity to sort it out.

Have said that, the property description sounds a concern and I hope your broker checked with the lender before application.

MortgageMamma

Bossypants wrote: »

Thanks MortgageMama, appreciate the perspective. The reason we are going with Woolwich is that I have a small mortgage on my current place which I could port at the existing rate and just 'top up', plus they are willing to lend 5x my salary which I understand some lenders are not.

I am not in a rush as such, I am just anxious because the property is a bit odd (350 year old cottage 'shell' but totally redesigned and modernised inside about 15 years ago, on an unadopted road, although it is fully maintained by the council, and directly opposite a recycling plant). Given this, I am worried that Woolwich might get spooked and refuse to lend, so I really want the valuation done as quickly as possible, so that I know what I am potentially up against.

Good to know that it is likely Woolwich and not my broker, I really like her and as I said she has been great on past transactions (plus she gets me a better rate than any others I have spoken to).

I used to live in a property built in 1704 which was grade II listed. Never had any trouble with the mortgages, but then I wouldn't! - just sit tight and get through the valuation - you probably know properties of this age are usually not problem free, but until you see the valuation report you'll have to sooth your nerves somehow.


Good luck with the purchase of your beautiful old house


MM

Bossypants

Thanks both, I am aware that it may not be the most straight-forward place to mortgage (hence my obvious nerves), but I am hoping that the location in central Brighton and the fact that I am putting down a 40% deposit will help smooth the way. Other than that all I can do is cross my fingers!

minimike2

Since the valuation fee process is automated from the input of the card details, it sounds to me more like the broker has mis-typed the card number / expiry into the system.

cahillg81

Barclays are pretty meh! Their new online portal for intermediaries makes my eyes bleed!

Bossypants

Nvm, the wait continues...