Lender’s refusal to execute best interest rate at completion

MWT

capbtn said:

It’s always been the same lender and the same product and plenty of time to adjust the offered rate to the going rate more than 10 days before.

The product = the rate, if you want a new rate then you need to switch products, and depending upon the lender the time period to do that is often going to be greater than 10 days before completion.

If you feel your broker has not responded to your requests then talk to them, but if they said they couldn't do what you ask, that is not the same as not honouring your request...

capbtn

Ok, I appreciate that there are far more advisers than borrowers here. Could yiu perhaps confirm that any lender has a rate set on any partisan for any particular product? Do if this is the case, do we all have a right to see this, even retrospectively?

FYI 0.3% means for me 1-2k which I rather donate than waste on a system that I don’t find open and transparent as it should be

Hoenir

You have no rights. There's nothing to be transparent about. The same system has operated satisfactorily for decades trouble free. 

ACG

You had access to Principality' mortgage products here - https://www.principality.co.uk/home/mortgages/mortgage-products.

I dont know if you have a "right" to see historic products but I cant see why they would not provide them if asked. I know we as brokers do not have access to them though and would need to ask to see if we could get them. 

Just to be clear, yes I am a broker. If a broker has done something wrong, I would be the first to call them out on it (and that includes myself). I think you are misreading my replies, I am not sticking up for you or the broker on this occasion. Its impossible to do as it is very much the details that will make the difference on whether your are in the right or not. 

You can ask for whatever you want. It does not mean you will get it.
The key bit is whether the broker agreed to monitor the rates for you or not. If they did, they are in the wrong and will need to go and look at the products over the last however long and find out how much they owe you. If they did not, then they have not done anything wrong (in my opinion). 

We (as in my business) obtain the best mortgage we can at the time of application. We will do our best to keep an eye on rates and if they are coming down significantly we will do our best to switch it over - but we make it clear if asked that we cant guarantee anything as we get maybe 20 emails a week avising of rate changes and some end up in spam. Its not impossible that some emails may get missed.