Slippery Mortgage Broker - (Put it in writing)

[Deleted User]

My mortgage offer was made around the time that the Corona Virus disruption started. At the time I asked my mortgage broker to keep an eye on whether my mortgage lender reduced the rates on that mortgage in response to the BoE reducing the base rate twice in quick succession. That was a couple of months ago and my mortgage offer has now been formalised, I've received all the paperwork and I'm getting close to agreeing an exchange date. In light of this, I recently asked my broker to confirm that the lender isn't now offering a lower interest rate - and if they are, to arrange for it to be added to my mortgage offer, if possible.

But here is the problem. I asked my broker the above by email, but he seems reluctant to answer the question by email. He keeps trying to phone me, and I keep asking him to reply by email. I'm not being paranoid - he doesn't want to answer my question in writing. Other people I know have had similar problems with brokers being reluctant to put things in writing and always trying to do things over the phone.

So, any advice on how I should approach this? I'm close to exchange, so I really don't want to put a spanner in the works, but at the same time there must be a reason why the broker doesn't want to answer the question in writing - I.e. the lender may now be offering a lower interest rate than the one I've been offered. Perhaps he doesn't want the hassle of reissuing all the paperwork, but I don't want to miss out on a lower rate just because of that. I can't find my mortgage product online, so I can't check what the current rates of that lender are.

[Deleted User]

who is your lender?  Every lender publishes rates online so it cant be that hard to check. 

Maybe the lender will cause a full new underwrite on product change and the broker doesnt want to risk it being pulled altogether.   

 

[Deleted User]

I have looked online and can't find my mortgage anymore. Maybe they are no longer offering it, but if it's that the case, why can't my broker just say that?

Thrugelmir

I'm struggling to understand why you cannot be bothered to speak to your mortgage broker.  Be far easier to have a proper discussion that's meaningfull. 

[Deleted User]

Thrugelmir said:

I'm struggling to understand why you cannot be bothered to speak to your mortgage broker.  Be far easier to have a proper discussion that's meaningfull. 

Because I don't think the reason he keeps phoning me is because he wants a meaningful conversation. The question I asked him was very simple: is my mortgage product now offered with a lower interest rate than when my offer was made?

tasticz

Is this approval in principle or full mortgage application?

Whats your mortgage details? i.e. purchase price, mortgage amount, how many years, which lender, etc?

[Deleted User]

It's a full application. I'm not giving you the other details - we've already chosen a lender, I just want the broker to confirm if that lender has reduced the interest rate since my offer was made. That's a reasonable request, isn't it?

NatalieAGC

it will be full application as op is close to exchange. 

Thrugelmir

Geepers1 said:

Thrugelmir said:

I'm struggling to understand why you cannot be bothered to speak to your mortgage broker.  Be far easier to have a proper discussion that's meaningfull. 

Because I don't think the reason he keeps phoning me is because he wants a meaningful conversation. The question I asked him was very simple: is my mortgage product now offered with a lower interest rate than when my offer was made?

Be a different mortgage product now not the same. 

[Deleted User]

Thrugelmir said:

Geepers1 said:

Thrugelmir said:

I'm struggling to understand why you cannot be bothered to speak to your mortgage broker.  Be far easier to have a proper discussion that's meaningfull. 

Because I don't think the reason he keeps phoning me is because he wants a meaningful conversation. The question I asked him was very simple: is my mortgage product now offered with a lower interest rate than when my offer was made?

Be a different mortgage product now not the same. 

Okay, a different product which is the same apart from the interest rate.

dunstonh

I'm not being paranoid - he doesn't want to answer my question in writing.

Paranoia is thinking and feeling as if you are under threat even though there is no (or very little) evidence that you are.  Sp, you are being paranoid.

The question I asked him was very simple: is my mortgage product now offered with a lower interest rate than when my offer was made?

That doesnt make an email any easier.  There may be ifs and whats to add to it that are much quicker to cover in an email. (such as discussing consequences and issues).  Talking on the phone for 5-10 minutes can be quicker than having an email conversation going back and forth over a period of days.

Or it could be an adviser that is happier dealing face to face or phone rather than in email. Some people are very comfortable in conversation but really struggle with emails.