Help needed please - problem with Mortgage Offer

stacehr

We are currently purchasing a flat and have a Mortgage offer dated 27 Jan expiring 27 July this year. We have used a broker who we also used last year for a flat that fell through - both mortgages offered by the same lender.

Random call to Lender yesterday about possibility of extension to deadline if needed (as purchase is messy and protracted) and was advised that mortgage offer had been terminated 11 Feb - we were not advised.
Urgent call to broker who has now sent me a string of emails between him and lender.
It appears broker submitted new application as a “change” to previous one and Barclays are saying that we should have been given an expiry date in line with our last offer which would have been end of Jan as all applications/cases/offers expire after 6 months. They admit their system has incorrectly given us an offer expiry of July and a concern has been raised to see if this can be honoured.
Whose mistake is this? The broker for clearly not submitting the application correctly (maybe cutting corners) or Barclays for not picking this up and issuing incorrect Offer letter.
If we have to reapply - mortgage rate has doubled and repayments will be £350pm extra based on 5 yr fixed.
Any thoughts on what I can do?

ACG

Is the broker wrong? Should he/she have submitted a new application? 

I dont know the answer to that, I avoid Barclays like the plague. I really do not like their system or processes. But you need to be put in the position you would have been had the mistake not happened. See if the broker can resolve it, if they can nothing to worry about. 

If they cant, then you can start looking at the blame game. 

stacehr

Thanks ACG - I’m assuming the broker is to blame for submitting the application the way he did and Barclays also for putting it through ! Sadly he won’t now take my calls to discuss ! Appreciate your help 

ACG

On your original offer or illustration (section 11) there will be a section for who to contact if you want to make a complaint. 

You might need to do that. Dodging your calls at a time like this is terrible though. 

stacehr

I am just checking that out now. Sadly the number given is who I spoke to yesterday and they told me they wouldn’t deal with me, that I had to go through broker. I will have to look at putting complaint in writing and we don’t have time on our side

K_S

@stacehr Sounds like your original offer was valid to Feb, your broker submitted an application to amend the property on the original offer and Barclays (incorrectly) issued an offer with an expiry of July when it should have been Feb.

I can't really fault the broker to this point though I would have understood the implications of amending an offer Vs putting in a fresh application in January. Barclays mortgage systems, processes and mortgage processing staff are poor, have always been poor so everything should be double and triple checked. But in this case an offer was issued and it gave an expiry date of July so that's that.

The big question is whether the broker was informed in Feb that the offer had expired (or was cancelled by Barclays). If he did, and sat on it, that's clearly a mistake.

Given that Barclays did issue an offer with July expiry date (and potentially not informing the broker about the cancellation), I would suspect that this could be salvaged by the broker escalating it to the BDM or someone higher up at Barclays.

While that's going on, unless you can only use Barclays for whatever reason, I would strongly consider getting an application in (either direct or through another broker) for the best rate you can get at the moment in the market.

stacehr

@K_S Thanks for your input and advice - much appreciated. Today it is looking as if it is potentially salvageable although nothing has been definitely confirmed. Apparently I will be updated next week!

silvercar

Any update? I’ve also had some paperwork regarding a z Barclays mortgage offer that was more generous on timescales than expected.