Mortgage advisor refused to help us due to "internal compliance regulations"

wood1809

Hi all just looking for some advice. Me and my partner reserved a property and were planning to use help to buy equity loan as part of the deposit. We went through a broker, sent all our paperwork to him and he filled out and sent off our help to buy form. Spoke to him on the phone and he told us mortgage options and said he would look and call us back. We recieved a call today from him saying that due to "internal compliance" on our documents he could not help any further. When questioned he will not mention what this is exactly. He also said you can go through a bank directly but we cannot help. Spoke to the builders of the property we reserved and they said they have never heard of this? We both have excellent credit scores and no problems on our credit reports. Does anyone have a clue what could be going on? 

silvercar

It could be that the broker has failed some compliance regulations and can't act for you at the moment.

[Deleted User]

Individual companies have internal rules depending on what risks they want to avoid.   This might be some companies choosing not to do any residential interest only, some firms choose not to get involved in debt consolidation.  I've also heard of a few companies not getting involved in any shared ownership or help to buy as they see it as a big complaint issue in the future.  
Friend of mine works for a company where they have to get internal approval for anyone who has more than 1 job as another example.   
A big firm i used to work for had to get an approval code from compliance to do any residential mortgage that takes someone over 80.  

Might be that the company the broker works for is wanting to avoid certain bits of business.   Probably nothing personal