Mortgage advisor lied on my application

Marie758

I had my mortgage offer accepted with Halifax back in August.

yesterday I received an email from my solicitors highlighting that a requirement of the mortgage offer was that my EPC rating on the flat was an A or B ( a green mortgage product)

The EPC assessment took place last week and has come back as a C.

Ive had a look at the Halifax terms and it states that the intermediary should have sight of the EPC certificate, should save a copy for audit purposes at the time of application. It goes on to state that if the EPC rating is not available ( which it was not at the time) that the application should not be processed for that product.

My advisor is yet to respond . I’ve had a look and with the increase in rates I am looking at an additional £550 per month if I have to find a new deal.( it is a 5 year fixed product which would mean £30k extra over the next 5 years on todays rate)

Why would my advisor confirm sight of the certificate when there was a non green option at the same rate back in August and what are my options now?

Thank you 

K_S

@marie758 Sorry to hear about the mix-up.

Is this a new-build?

In your broker's place I would speak to Halifax to see if they will allow me to change the product with the equivalent non-green product that was available in the expired product guide back in August.

Marie758

Hey KS

its a 1960s build so I don’t understand why the advisor went with that option.

Ive reached out to the advisor but she is yet to respond.

I feel lost as it’s so close to the end with all my searches completed.

ACG

Its not that the broker has lied, its a mistake. 
On our sourcing systems it displays products in price order. Its very frustrating as "green mortgages" are on there which are usually marginally cheaper than the non green alternative. But there is very little that differentiates the 2, so it is an easy mistake to make. 

You were never eligible for that product, but the broker needs to find out what the best product for you at that time would have been. They then need to find you a deal now and cover the difference. Thats what they should be coming back and doing. 

kingstreet

Isn't the only difference on a Halifax green product the £250 cashback - same rate?

ACG

kingstreet said:

Isn't the only difference on a Halifax green product the £250 cashback - same rate?

But you cant switch to the product the product that should have been selected I am guessing? 

kingstreet

ACG said:

kingstreet said:

Isn't the only difference on a Halifax green product the £250 cashback - same rate?

But you cant switch to the product the product that should have been selected I am guessing? 

Dunno mate but if I'd made that mistake I'd be asking our BDM for a favour.

MWT

kingstreet said:

ACG said:

kingstreet said:

Isn't the only difference on a Halifax green product the £250 cashback - same rate?

But you cant switch to the product the product that should have been selected I am guessing? 

Dunno mate but if I'd made that mistake I'd be asking our BDM for a favour.

Which might explain the delay in her response...

Marie758

Hi all. The thanks for all your comments . She did get in touch with the BDM and they’ve removed the £250 cash back option and maintained my offer . So all cylinders go. This has been the most stressful 24hr ever!

ACG

Marie758 said:

Hi all. The thanks for all your comments . She did get in touch with the BDM and they’ve removed the £250 cash back option and maintained my offer . So all cylinders go. This has been the most stressful 24hr ever!

That sounds like the deal it should have been had the mistake not been made. Good outcome, fair play to the broker, they made the mistake but they made it right. Try not to be too harsh on them, we all make mistakes and at the minute there is an element of rushing due to the constant changes of rates some times with no or very little notice.