Broker says one thing I get another!

Ian_Griffiths_Halifax

farkin28. Who is the lender. Some are worse than others at messing about with the rates.

NeilQuinn

MortgageMamma wrote: »

Hi Farkin

However I don't agree with Neil's comments that the lenders not likely to have changed the product without speaking to the broker first. Its happened to me three times this month. Once with Abbey, once with Platform and the third time with C&G. Me being me I put a fight up and demands the original products.

Surely they can't simply issue an offer on a different product without somebody else's say so (broker or client)? I've never experienced that in my life.

Ian_Griffiths_Halifax

NeilQuinn wrote: »

Surely they can't simply issue an offer on a different product without somebody else's say so (broker or client)? I've never experienced that in my life.

Neil, I can assure you it happens as I've had to produce evidence in the past that it is wrong.

If it's a paper application it can be a case of the inputter inserting the wrong product code, but god knows how, but I got a KFI recently for a client then converted this to a DIP, then converted this to an Application. All the details of the deal went through as requested but the offer came out wrong. I don't know how and the lender couldn't tell me how, but it did. By producing their own sites produced KFI, DIP and copy of Application showing all the process, they changed the product back despite it having since been withdrawn, but I think they are still scratching their heads.

NeilQuinn

Fair do's - I must be lucky in this example. I've had to change a few deals lately because of downvaluations etc & the case didn't fit on the particular product we'd applied for (Abbey cases)..in each instance, I've had to get the okay from the client and send a fax to Abbey, requesting the alternative rate.

MortgageMamma

NeilQuinn wrote: »

Surely they can't simply issue an offer on a different product without somebody else's say so (broker or client)? I've never experienced that in my life.

Actually its happened again. praxis have done it with a packaged deal. client applied for 7.89 fixed for 2 years, offer came out 8.54% for 3 years. Got on to them about it last night, apparently they didnt notify me of the product withdrawal as they were moving premises and experiencing system problems. I have pointed out to them that my case was fully packaged and sat in their underwriting queue on 16.4 when the deal was apparently withdrawn. I may even have to notify the lender in this instance to try and get the original product.

WARNING TO EVERYONE CONDUCTING MORTGAGE BUSINESS. CHECK YOUR OFFERS VERY VERY CAREFULLY AS THEY COME IN.

Ian_Griffiths_Halifax

MortgageMamma wrote: »

WARNING TO EVERYONE CONDUCTING MORTGAGE BUSINESS. CHECK YOUR OFFERS VERY VERY CAREFULLY AS THEY COME IN.

Suerly everybody does this as a matter of course :eek:

MortgageMamma

Well you would think so, but that warning was more for the consumers on the site than the brokers!