Slippery Mortgage Broker - (Put it in writing)

[Deleted User]

You will just have to ask clearly why he seems reluctant to respond to the quesiton by email. No one here will know anything else. 

My guess is that he doesnt want anything in writing incase you say something that he has to notify the lender about and your mortgage gets pulled.    

Right at the start of the lockdown some lenders asked brokers to contact clients to confirm financial status hadnt changed.  Some just said that if we were told anything to let them know but didnt have to be proactive. 
It might be that he doesnt want to be in a position of putting in writing 'i dont want to do anything with your mortgage incase the lender pulls your offer'
At this time with changing lending appetites, its sometimes better to be not know whats going on than be put in a position of cancelling your clients mortgages.
I personally had an offer pulled right at the start when asking for an amendment and they decided they weren't going to use overtime anymore even though he worked in a supermarket.  Boom, offer gone, purchase deal collapsed.  

Talking it through on the phone allows them to ignore what they dont want to hear with less chance of getting in trouble later.  

Im not condoning this btw, just guessing that this might be the reason. 

[Deleted User]

dunstonh said:

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. 

Yes, all that. And, yes, maybe I'm being paranoid. On the other hand, maybe my broker just doesn't want to put his advice in writing because I'll have no proof of what his advice was.

[Deleted User]

Deleted_User said:

You will just have to ask clearly why he seems reluctant to respond to the quesiton by email. No one here will know anything else. 

My guess is that he doesnt want anything in writing incase you say something that he has to notify the lender about and your mortgage gets pulled.    

Right at the start of the lockdown some lenders asked brokers to contact clients to confirm financial status hadnt changed.  Some just said that if we were told anything to let them know but didnt have to be proactive. 
It might be that he doesnt want to be in a position of putting in writing 'i dont want to do anything with your mortgage incase the lender pulls your offer'
At this time with changing lending appetites, its sometimes better to be not know whats going on than be put in a position of cancelling your clients mortgages.
I personally had an offer pulled right at the start when asking for an amendment and they decided they weren't going to use overtime anymore even though he worked in a supermarket.  Boom, offer gone, purchase deal collapsed.  

Talking it through on the phone allows them to ignore what they dont want to hear with less chance of getting in trouble later.  

Im not condoning this btw, just guessing that this might be the reason. 

I see what you're saying, but I've already given him the information in writing - i.e. 'Has the interest rate gone down?' - that's all I've said. I don't have any other information to give him and I haven't mentioned switching to a different lender.

I suppose I shouldn't be surprised - everyone is trying to cover themselves from risk, including me. It's like when you have the survey done on the property and the report says: this MIGHT be wrong and that MIGHT be wrong - always worded to cover the surveyor

Glover1862

If you just mention the lender and product someone will be able to confirm if it’s changed, what is so difficult??

dunstonh

Geepers1 said:

dunstonh said:

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. 

Yes, all that. And, yes, maybe I'm being paranoid. On the other hand, maybe my broker just doesn't want to put his advice in writing because I'll have no proof of what his advice was.

You should have proof of his advice as a closure letter/suitablity report would have been written and given to you telling you what the advice was.

Thrugelmir

Geepers1 said:

dunstonh said:

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. 

Yes, all that. And, yes, maybe I'm being paranoid. On the other hand, maybe my broker just doesn't want to put his advice in writing because I'll have no proof of what his advice was.

The advisor cannot provide any guidance without fully discussing the matter with you.  I'm assuming that you are holding something back hence the reluctance to speak to your broker. For what purpose are you seeking proof? 

[Deleted User]

Not holding anything back. Just wanted to know if my prospective lender had reduced their interest rates before I go ahead with the mortgage.

CheesyWiggles

Wow, I’ve worked with people that want everything put in writing - are you a civil servant by any chance, because that’s a very civil servant thing to do (no offence to the awesome civil servants out there)?

Most people like to deal with people iver the phone. If they are trying to cover their behind, it’s probably protecting himself from the lender IN YOUR INTEREST, not the other way around. Just speak to him, and then ask him to put it in writing if you’re worried - but this behaviour is absolutely nonsense tbh.

tasticz

Why does he need to put it in writing? Are you planning to sue him after you get the keys saying he put you on higher rate to make more commission?

If you're not happy with his service or his recommended product i.e. the rate and mortgage terms go to another broker... 

[Deleted User]

One or two mortgage brokers in this forum by any chance? Lol