Mortgage broker error - changing product for lower rate

pleasehelpmemartin

Hi,

i just wanted some advise i went through a broker to get a first time buyer mortgage. I had it accepted and was fine but as the rates were lowering i changed the product with the same lender a few times. 

The last change the application wasnt submitted correctly. The broker company made it was the lender at fault but turns out it was them. Meaning i had to complete at a higher rate and the delay in getting a response or reply from them i could have even got a better rate at the time when i realised something wasnt right. 

As my solicitor then need to request the funds changing product wasnt an option then as cancelling takes 24 hours and then another 24 hours and then the completion deadline would have been missed. 

The broker has admitted fault now and offered compensation to cover what the difference for the rate that didnt go through and intially offered £100 compensation but then have offered £150. 

I think they should cover the rate i could have got when i had to go back to them to check it. 

I even raised the complaint with the lender initially as the broker was being slow. Thats when i found out it was the issue at the brokers side. 

Should i take the offer or go to the financial ombudsman to get the compensation which i think i deserve?

Has this happened to anyone and what did you do?

northwalesd

I think your question might be better answered in the Mortgages and Endowments board, rather than this one.

https://forums.moneysavingexpert.com/categories/mortgages-endowments