Mortgage broker - ask me anything

Waller97

Is it worth putting in a complaint to our mortgage broker and requesting the fee we paid back? 

She has been pretty useless to be honest and has delayed our mortgage being accepted by about 6 weeks from delays in errors she has made. We had all the easy mistakes you make if you had completed the application yourself after paying a fee for it to be sorted for us. Final straw was yesterday when we received our mortgage offer to discover she has put the wrong solicitor details on our application so we are yet again delayed. I don't complain often and i don't think it will get anywhere but am interested in whether mortgage brokers will accept when they haven't given good service and refunded their bill? 

london21

My friend's deal at Natwest ends 31/03/2022

Been told there is a ERC of 1% £1022

current deal is 1.85%
outstanding balance £102,286

3.09% with fees £999
3.25% Without fees 

can renew without fees from 01/10/2022 but concerned will increase further.

Stevo9090

Help needed please

Last week I submitted a full mortgage application with precise at 6.09% fixed 5 years, due to a ccj, missed payment markers and a default

The day after I submitted the application I got a call informing me the ccj and missed payment markers are being removed, meaning the only negative marker on my credit file next month will be a £76 default from TalkTalk over 3 years old (unsettled)

Can I ask, am I likely to be accepted on the high street next month, and is a 95% LTV possible with the one unpaid £76 Telecoms default from Jan 2019

I've left a message for my mortgage broker informing him of the upcoming changes to my credit file, but not heard back from him yet. I'm assuming there's nothing he can do now the application has been submitted with precise?

Really appreciate any advice you can give me

K_S

Waller97 said:

Is it worth putting in a complaint to our mortgage broker and requesting the fee we paid back? 

She has been pretty useless to be honest and has delayed our mortgage being accepted by about 6 weeks from delays in errors she has made. We had all the easy mistakes you make if you had completed the application yourself after paying a fee for it to be sorted for us. Final straw was yesterday when we received our mortgage offer to discover she has put the wrong solicitor details on our application so we are yet again delayed. I don't complain often and i don't think it will get anywhere but am interested in whether mortgage brokers will accept when they haven't given good service and refunded their bill? 

@waller97 It's hard to give an answer specific to your question as there's not much context to go on.

As far as I am concerned, if one of my clients was unhappy enough with my service to demand a refund of the broker fee (if any, as I only charge a fee in a minority of cases eg: very small loan sizes, heavy adverse, complex scenarios, and only payable on mortgage offer), I wouldn't quibble too much about it.

K_S

Stevo9090 said:

Help needed please

Last week I submitted a full mortgage application with precise at 6.09% fixed 5 years, due to a ccj, missed payment markers and a default

The day after I submitted the application I got a call informing me the ccj and missed payment markers are being removed, meaning the only negative marker on my credit file next month will be a £76 default from TalkTalk over 3 years old (unsettled)

Can I ask, am I likely to be accepted on the high street next month, and is a 95% LTV possible with the one unpaid £76 Telecoms default from Jan 2019

I've left a message for my mortgage broker informing him of the upcoming changes to my credit file, but not heard back from him yet. I'm assuming there's nothing he can do now the application has been submitted with precise?

Really appreciate any advice you can give me

@stevo9090 Once your credit reports show only a single 3+ year old £76 telecoms default, that by itself should not stop you from getting a mainstream 95% LTV product. 

Mind you the above statement is based purely on the one aspect that you highlighted. There might be other details in the background that also impact your chances.

Stevo9090

Thanks @K_S

That gives me some hope

Precise were the only adverse lender available to me according to my broker Chartwell as the house price is so low at 55k

Now that my credit file is going to be much better, will it make a difference to a high street DIP whether or not the £76 telecom default is settled?

On a separate note I'd like to make a sole application rather than joint due to my partner still having a CCJ on her credit file, plus she's currently out of work etc

I've heard most lenders try to force you in to a joint application to avoid disputes later. Are there any mainstream in particular that are happy to accept sole applications when you are cohabiting?

Thanks

K_S

Stevo9090 said:

Thanks @K_S

That gives me some hope

Precise were the only adverse lender available to me according to my broker Chartwell as the house price is so low at 55k

Now that my credit file is going to be much better, will it make a difference to a high street DIP whether or not the £76 telecom default is settled? Hard to say for sure as it will depend on what exactly is on the reports and which lender you use, but generally speaking for mainstream lenders it would be a positive if it were settled.

On a separate note I'd like to make a sole application rather than joint due to my partner still having a CCJ on her credit file, plus she's currently out of work etc

I've heard most lenders try to force you in to a joint application to avoid disputes later. Are there any mainstream in particular that are happy to accept sole applications when you are cohabiting? Depends on the lender, whether she's contributing to the deposit, etc. But there are a good number of mainstream lenders who are ok with leaving out a spouse or co-habiting partner for credit history reasons. 

Thanks

@stevo9090 Comments inline above

Stevo9090

Thanks @K_S

I really appreciate that information

Am I allowed to ask you for your recommendation on a good quality broker who deals with people in my situation?

My current broker has been rather distant throughout my current application with precise, and I also found the lender myself too, although £299 on offer is not a figure I'm going to complain about

Thanks

GreenCat80

Stevo9090 said:

Thanks @K_S

I really appreciate that information

Am I allowed to ask you for your recommendation on a good quality broker who deals with people in my situation?

My current broker has been rather distant throughout my current application with precise, and I also found the lender myself too, although £299 on offer is not a figure I'm going to complain about

Thanks

I’ve found 
alligatemortgages.com
to be excellent, really knows her stuff  

bubby08

Hi @K_S I hope you are well. Are you aware of any issues a lender would have with a restriction on a property regarding its sale? 

Thank you