FTB - broker issues

silver17

Please don't judge. I'm a FTB but also on "the spectrum" and this whole thing has been massively overwhelming.

I'm a FTB and looking to solo buy the shared ownership house I'm renting a room in (yes that's ok for the owner to do before anyone asks).

I got sucked up in a whirlwind and everything has moved so fast and I'm not sure what's happening.

The broker is someone affiliated with the agent and I just went with it, but this person has not provided me written info of my mortgage/rent details a month into talks despite me asking… I've sent all of my statements, credit checks etc and they still are asking for more in depth info and harassing me for things I can't provide yet. This is work info - I'm awaiting a response to prove my earnings as my salary changed since starting and my payslips "don't make sense". They and the agent are contacting me DAILY when I've told them it can take a week to get a reply from HR and I'll send it as soon as I get it.

I got sent a form to fill in by the HA and the broker said they'd fill it in. I now have another and the broker is refusing to tell me how to do it. Saying I can't buy more shares via staircasing until the house is worth more, still not giving me written proof of my mortgage offer, and I've also been randomly told I've been allocated a solicitor - but no one can tell me the name of them!

Can anyone advise on how I go about this whole thing? Can I change broker at this point? I don't even know if they're offering the best deal and, as I don't have it in writing, I'm not convinced. They also told me not to get another quote as it will affect my credit rating - now wondering how true this is!

I've not paid a penny to anyone yet.

Again, please don't judge, I've really no clue what I'm doing as I didn't expect my house to be for sale or to be in a position to buy and this has moved so damn fast. I'd really appreciate any advice.

TroubledTarts

If it's all going too fast then yes put the brakes on until you are confident everything is above board.

If saying this makes your broker and agent apply more pressure on you then something could be wrong so don't react to their pressure.

Request all the details and paperwork available for review and be sure of what you are signing up to and at what stage of the process you are at.

RelievedSheff

If they are still requesting information then it doesn't sound like they have a mortgage approved yet so there may not be any paperwork or figures to give you just yet.

Try to calm down and tell them you need more time.

whizzywoo

Do you have a friend or family member who has purchased a house in the past? Maybe talk to them and see if they can help with things.

kingstreet

FWIW this is what is going out on our emails at present;-

PLEASE NOTE, DUE TO MORTGAGE RATE VOLATILITY WE WILL MAKE FINAL LENDER & PRODUCT RECOMMENDATIONS ONLY WHEN WE HAVE ALL SUPPORTING DOCUMENTS AND ARE ABLE TO SUBMIT THE APPLICATION ON THAT DAY.

However, this is the end of an email where we are providing example illustrations which at least snapshot current rates and costs and in which we request permission to do an agreement in principle.

Shared ownership is an added complication in the mortgage process as the HA/RSL is required to decide on the purchase and appropriate share before a mortgage application can be submitted.

silver17

Thanks all for your input, and sorry for the late reply.

Re the mortgage person, they're not even willing to put in an email what the suggested offer was or who it was with - this is not normal, surely? It doesn't have to be the official document, but obviously I need to know what the offer is? I am now being asked to give DD forms for the rental part but I'm not giving them approval until I know what the amounts and lender are?

Am I allowed to go to another broker/advisor at this point? I feel like there may be better options out there and I was sucked into going with the agent's preferred broker which doesn't sit ok with me anyway. I literally didn't speak to anyone else as this was such a whirlwind.

Is it normal to be "allocated" a solicitor? At this early stage, am I within my rights to find my own one (I don't think they even allocated one)?

lincroft1710

You choose your own solicitor. Do not be tempted to use one "suggested" by the EA.

m0bov

I would try a whole of market broker. Then choose your own sol