So cross with our Broker!!!!

lgirl_2

Just posting on here to let this our really. I doubt there is anything in reality that can be done about this!!!

I am absolutley fuming with our broker!!! My husband and I saw a broker last Thursday to get some advice on a mortgage. She said that she would see what she could come up with and get back to us. We wern't very impressed with her to be honest and decided to go ahead and apply for a mortgage with Nationwide on Wednesday as we had originally planned. Sadly, we got rejected. Our broker had mentioned at our first meeting that Bristol and West might be a good option for us. I asked about B&W on here as we have been worried that our credit score is low (795 - I checked online with Experian today) and the general consensus was that they arent that forgiving of bad credit (My husband went through a trust deed 4 years ago which messed up his credit). I was wondering why on earth she would reccomend them (must be a whole wad of comission in it for her :mad: )

Anyway, I decided to check our credit report online today to get an idea of how bad it is and to see how we can make changes for the future. On it I saw an application for Bristol and West!!! She had applied last Friday without telling us!! It got rejected and she didn't even bother to phone and let us know!! This means that we went along to apply for our nationwide mortgage on Wednesday with a mortgage rejection on our file without even knowng about it!!! No wonder we got rejected!!!!! God I'm so cross! I phoned her up fuming and she appologised and said that she didn't think it would show up. I said that we should have been consulted, and what was the actual product that she was making us apply for. She said it was 95% on 6.something fixed for 3 years. I have checked on their website and they don't even offer this. The only 95% mortgage they do is over 5 years which she knows we don't want!!! Is she stupid?! She said that she looked at our credit file with a coleague and they saw no reason why we were rejected so they have appealed the decision with B&W and think it could go well. We had already pretty much decided that we wern't going to be able to go for this house so I don't know what to do! We now have two mortgage rejections on our file in the case of a week!!! I am so so cross with her and there's nothing I can do about it. This is our future here, our money and our dream house!!!!!!!!! :mad:

ETA: Sorry about the long post!!

jamtart6

get a new broker! good luck with it all

minimike2

It wouldnt be for the commission - Bristol and West pay about the going rate. She probably just isnt very good at her job.



They dont show on your file as "mortgage rejections" - merely as credit enquiries. They might not be visable to lenders as some do a "soft" footprint at the initial stages.

UK007BullDog

Also if B&W rejected you Nationwide would have too.

She should have told you that she will do a DIP with B&W.

First of all look at your credit file. The score "750" is not important. Important is what makes your credit file poor.

Also with a poor credit file you are no longer in the driving seat to dictate your wishes to the lender. If you need a 95% mortgage with a poor credit record you will find it very tough to get one at this time.

Brokers at times have deals that are not available direct and sometimes lenders have deals brokers cannot sell.

Print out your credit files and take them to an experienced broker along with your payslips and an income/expenditure breakdown to see what your affordability and credit record is like to find the best suitable product or to see if you can even borrow as much as you would need.

Ian_Griffiths_Halifax

Igirl, I think you are more cross because you were turned down, rather than because the borker tried to do a Decision in Principle for you. She was only trying to get you a mortgage, but she really should have told you that she was doing the DIP.

pickles_pink

Hi Igirl,

I'm sorry for what happened to you. It was poor of her to do this but it happens a lot.

you can make her call B&W and say what she has done and they (might) remove their "footprint" from your file. . . . (might)

Just to let you know though; you would not have a mortgage rejection on your file, all the underwriters can see is that you were searched for a mortgage - it is true that lost of searches look bad but 2 within 2 days could be dismissed as rate shopping - which in todays climate is not unusual so this would not have cased the decline.

In addition B&W have been changing their rates every few days to slow down the volumes, so when ypu checked the rate may have been pulled.

good look with the future, find a new broker! x

TEDDYRUKSPIN

DIP does not result in a footprint. It only carried out a look. Credit report would note this anyway.

You are cross due to a rejection. I can tell you now. If nationwide reject you, others will too. A broker will scour the system for one that will accept you or not. In this current market, good luck.

Newbird

Igirl - my sympathies, you are cross for good reason, (as well and not getting your deal) there is a principle at stake here. Are you sure you have no comeback? (do a bit of hunting, I would) this seems very unfair, tho your broker has probably learned from the experience and ma y be more cautious/communicative in future.

If you didn't feel she was up to much, why not go elsewhere? gut instinct, female intuition and all that, can save you from a lot, if you have any kind of perception, which you clearly do have and is borne out by this. Trust your instinct next time Hon, you've learned something too.

Good luck with your mortgage quest, hope it all works out in the end for you. x

_Andy_

TEDDYRUKSPIN wrote: »

DIP does not result in a footprint. It only carried out a look. Credit report would note this anyway.

You are cross due to a rejection. I can tell you now. If nationwide reject you, others will too. A broker will scour the system for one that will accept you or not. In this current market, good luck.

Many lender's DIPS do leave a footprint.

Wutang_2

"The only 95% mortgage they do is over 5 years which she knows we don't want!!! Is she stupid?!"...I think everyone involved in this is a bit stupid...applying with Nationwide despite trust deed and having no clue about what you are talking about regarding credit files/history/score...sorry but you need to speak to a decent adviser and who cares about 2 credit searches???

Conrad

Nationwide would not reduce your score as a result of a Bristol and West score decline, so it makes no odds.