Broker communication

RoloCookie

The app went in last week and on Monday we managed to log onto a tracker which the broker didn’t give us, we asked lender directly. 

It said 4 documents needed to be sent so I proactively sent them to MA before he even asked us. He then said he would be in touch if we need to send something else. Monday evening more documents came up but I didn’t send them as he seemed confused as to how I knew to send them in the first place. But he hasn’t been in touch yet to ask for them. It’s now sat and I haven’t heard from him. Is that normal? Are we waiting for valuation (been instructed as free) before we are likely to hear from him? 

My tracker still says the first documents are required and when sent will be assessed in 48 hours .. not sure if tracker is delayed or what really..

I don’t want to be in his case if that’s normal .. I know he is busy .. but also don’t want my mortgage delayed if it doesn’t need to be. 

LRmortgage

Who is the lender? Im guessing it may be Nat West? 

RoloCookie

LRmortgage said:

Who is the lender? Im guessing it may be Nat West? 

Nope West Brom. 

jamielutz1987

@RoloCookie I hope it's not L&C. Recent feedback on the forum has been atrocious with respect to communication. Tbh he should be doing a better job of keeping you informed.

watch3r

I use Barclays and track it out of 5 main tabs it’s still on the first . There’s no info about Valuation ( that has been booked 3 days ago ) so I would not trust those. I’ve chased my broker before as it was showing they need more info and he said to ignore it . They didn’t update it since 5 days and within those I got my underwriting approved and valuation booked so 😅 if you broker says all is good all is good . I’m panicking about the valuation now as it’s new build , although my solicitor, developer and broker say it’s just a formality...  

fiision2020

This is a bug-bear for me. My broker has so far done everything he should. All documents have been sent to the lender and he generally responds when I call/email. My problem is that i have to call/email to get updates. I've left it for a week without getting any updates at all. Everyone keeps reminding me that due to Covid, It's expected that there will be delays and I need to calm down. Easier said than done however. My vendor has already tried to relist the property back onto the market as they are worried about me securing a mortgage. Its the not knowing whats going on that's driving me mad. I would appreciate a call/email even it its to say that there are no further updates. Quite often when I have called the broker he is on the line to someone else and tells me that he has to call me back which may not be for several hours. I think with so few lending opportunities for people esp with 5/10% deposits has led to a surge of applicants via brokers. My broker told me that he has been inundated with requests. 

Heres_the_deal

jamielutz1987 said:

@RoloCookie I hope it's not L&C. Recent feedback on the forum has been atrocious with respect to communication. 

It took four weeks for L&C to respond to us, and when we did receive the call we were told we'd be put through to 'someone' (assume an advisor), then the line went dead. We never heard back from them again. We then went direct (whole new !!!!!!-up), and now considering paying a local broker £400 to look at a restricted lender market. 

watch3r

From my perspective when you do Help to Buy .
developer started to take us more seriously once we got ATP from help to buy and even more serious once the valuation has been booked . Nothing for 3 weeks and as soon as we got the valuation I got like 5 calls from them.
solicitor-  we got standard documents, filled them up attached what they asked for and again nothing for 3 weeks. Once they got the info about valuation they called twice , and went through the process. So from my perspective closer you are to successfully completing you mortgage it picks up with the communication from everyone. At first I felt odd about calling everyday to my broker ( it’s quite common I think ) now I need to wait for valuation so a week without an update.  

ACG

I have not used West Brom in a long time but in the main you should not be finding out documents are needed before the broker does. I would expect they get an email at the same time as the tracker is updated so they should really be coming back to you the same day.

That being said, there are times we get document requests from other lenders and I call up the underwriter and get a few requests scrubbed off the list before speaking to the customer. That does not sound like that is the case here though. 

If you are waiting over 24 hours to hear from the broker after the tracker is updated, I would be on the brokers case. If they are too busy, they should be taking on less business.