Mortgage broker major error

triumphfan

My broker advised a new mortgage with a new provider 4 months before my mortgage was due to renew. It was a 2 year fixed. However, a few weeks later they said that it would be a better deal to renew with my existing provider. I agreed fir them to arrange this. I have subsequently discovered that they have accidently moved my new mortgage to the new provider by mistake and they have admitted this error. They are now trying to swap them back over but it looks too late for this to happen now as completion has taken place. I could be seriously out of pocket. Anyone know what I should do?

BarelySentientAI

triumphfan said:

I could be seriously out of pocket. Anyone know what I should do?

Work out how much out of pocket you actually are before you know what it's worth doing.

On a 2 year fix, it might not be that much.

ACG

They have to put you in the position you would have been had the mistake not happened. 
So if your new payment is £20 a month more, they have to pay you £20 a month. Although they might offer you a lower lump sum upfront. 

Stop worrying, let them look into it and get back to you. You only need to worry if they start being a bit silly. 

Ive had something similar happen before, we just did the right thing and everyone is happy. Since then I have done about 3 mortgages for the bloke, his daughters mortgage and he has recommended me to his partner and his son. Mistakes happen, its how you deal with them that makes the difference. 

kingstreet

How did the solicitor/conveyancer for the remortgage obtain your permission to complete the remortgage?