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Mortgage broker disappeared
Comments
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If you did then check to see if the broker was registered with a regulatory bodyAll brokers are regulated. So, its not an "if".
The posts higher up are recommending that the OP checks to see if the mortgage broker is directly authorised or via a network. Most mortgage brokers are with a network (it's mainly IFAs that are directly authorised). In the FCA's eyes, the network is the responsible party. So, if one of their members is not acting as expected, then you raise it with the network.
A mortgage broker doesn't get paid until the mortgage completes. So, here we have someone that has gone missing and their income is now in doubt. That is atypical. This suggests a potentially bigger issue, such as health. I have had it with clients the other way around. Only to find out they were dead or became seriously ill.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Some brokers charge on application. I dont know why people would pay on application, but I suppose if you are looking at lenders like Bluestone there is the potential for "desperation" (sorry OP, I dont mean to say you are desperate, I just could not think of a better word).dunstonh said:If you did then check to see if the broker was registered with a regulatory bodyAll brokers are regulated. So, its not an "if".
The posts higher up are recommending that the OP checks to see if the mortgage broker is directly authorised or via a network. Most mortgage brokers are with a network (it's mainly IFAs that are directly authorised). In the FCA's eyes, the network is the responsible party. So, if one of their members is not acting as expected, then you raise it with the network.
A mortgage broker doesn't get paid until the mortgage completes. So, here we have someone that has gone missing and their income is now in doubt. That is atypical. This suggests a potentially bigger issue, such as health. I have had it with clients the other way around. Only to find out they were dead or became seriously ill.
I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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