Is it possible to change a broker for a product switch?

houmie

Hello,

Due to changes to my work conditions, I wasn't able to remortgage with another bank and had to stick with HSBC. My current mortgage is coming to an end in January 2023.
I had engaged Trussle to do the product switch within HSBC, which was in the hindsight completely unnecessary, since I could have done it myself online.

I have to change the product, since the rates have gone down, and nobody is responding at Trussle. I got finally through this morning and I was told by someone that my case manager has left the company. They need to find out who can take over my case.  The clock is ticking as the mortgage rates could disappear tomorrow with bank of England's new announcement. 

I have already spoken to the bank, and they said they couldn't do anything. What are my options? Can I engage a different mortgage broker to replace Trussle?

Thank you

ACG

You do not need the same broker to do your product transfer as the one who did your original mortgage.
However if a product transfer has already been started, I am not sure if that differs with HSBC specifically. Some lenders would not mind if a different firm did it. 

JustDavid

With the clock ticking it may be best to raise a complaint at HSBC, they cant refuse to do this for you and are obligated under FCA rules to respond and investigate. Whilst I appreciate a broker did the initial product transfer, as you are now looking to cancel that and take a new product out, directly through HSBC, they absolutely should be able and willing to do this for you. You may have a charge for cancelling the existing product you set up via the broker (not an ERC but typically an admin charge to change from a product you've signed T&C's for).