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Desperate for help - Concerned about our mortgage broker...........any input appreciated

16 replies

conniedescending · 07/04/2008 19:55

We approached a mortgage broker who worked at an advisory service for a remortgage in mid-January and formally applied for a deal with RBS at beginning of Feb as our fixed rate expired in March (with Northern Rock).

ANyway, I was phoning broker on a weekly basis for updates and there was more information requested like DH place of work (full address) and some confusion over my married name and my maiden name. He also said they wanted our mothers maiden names for security purposes etc ect

Fast forward to now and we still don't have a remortgage. On Friday he phoned me at home to tell me he had been made redundant and that the whole of the advisory centre were closing down asap. He then said he was going to go independent but was unable to do this officially for 4-6 weeks so we could either apply direct to RBS or he suggested the name of another broker who was an independent. I asked if I could just ring RBS and manage the rest of the application but he said that they wouldnt accept that as there was different procedures for individual applicants and those that use intermediaries. He did say that the broker he recommended could act in his place and finish off our application....so I took the number of the recommended broker and contacted him.

He also told me to ignore any information we may receive from the advisory service where he used to work.

So I tried to get hold of this other broker today and he took my number and said he'd call back. On a whim I decided to phone RBS myself to see if I could just push the application through and they had no record of us applying at all. The lady checked and re-checked. Confused by this I decided to phone the main number of the advisory service where he had originally worked and asked to speak with the broker. The lady on the line said he had 'left to pursue other things'. Then I asked about our remortgage application and she had no record of us making one through their advisory service. She also told me that the advice centre was going strong and not closing. The lady on the phone sounded quite shocked when I told her what he had phoned to tell me and said she was going to look into it asap and get back to us by midday tomorrow. She was just manning the out of hours phone and didnt have full access to everything.

Totally not sure what to make of this - does it sound 'normal'...is there an innocent explanation?

Meanwhile, I could cry - we're stuck on a shitty varuable rate with Northern Rock that we cannot afford and the rate we applied for is no longer available.

OP posts:
lilyloo · 07/04/2008 20:00

Hi Connie so sorry you have been let down if you want my dp is a broker and he has an ad on mnet you can contact him here and i promise he won't mess you around. He also isn't charging any fees to mnetters he will reply as soon as you contact him.

2GIRLS · 07/04/2008 20:08

Have you given him any money? Is there a reason you had to use a broker or can you get a mortgage yourself?

If you can do it yourself, just look and look and arrange a mortgage as soon as possible and try and forget about this idiot.

Let me know what happens!

margosbeenplayingwithmynoonoo · 07/04/2008 20:09

Connie - it seems that your broker was a lazy so and so and is trying to cover his tracks. You should make a complaint through the advisory company as well, maybe they would give you feedback on what actually happened.

In the meantime, I hope you are able to process your remortgage soon.

lilyloo · 07/04/2008 20:14

Have you paid him any money ? If so i would contact his old company anyway to make a complaint i also wouldn't be inclined to use the broker he suggested either. It all sounds a bit dodgy esp 'ignore any info from his previous place of work'.

margosbeenplayingwithmynoonoo · 07/04/2008 20:14

Brokers are ususally on the ball and take the hassle out of finding the best all round deal. Money supermarket . com may be a good place to start looking if you're going to apply without a broker. Also, have a look on MoneySavingExpert.com - he has lots of impartial advice.

conniedescending · 07/04/2008 20:26

So you think he just hasn't bothered applying for us? It's not dodgy? Annoying thing is the rate we thought we had applied for and he said we was nearly there has now been withdrawn so its cost us alot of money. Is there anything I can do?

OP posts:
lilyloo · 07/04/2008 20:29

Don't think so now other than put complaint in but if he isn't working that might be fruitless.
Maybe that's why he made redundant as seems odd he siad not to contact his place of work.
You need to find something else though asap.

conniedescending · 07/04/2008 20:31

We paid the advisory service £250 when we first took out our mortgage. This is a lifetime fee so we used same service but diferent broker.

I use a broker supposedly to take the stress out of it. Cannot believe he said he'd applied and then didnt - surely thats not allowed????

OP posts:
lilyloo · 07/04/2008 20:33

You wouldn't think so , hence i would wonder if he has actually been made redundant. You could contact advisory service and see what they say ?

popsycal · 07/04/2008 20:37

we have just moved to shitty northern rock variable

try calling charcol - they have a website
whole of market search and no charge
i have found them to be really good

conniedescending · 07/04/2008 20:37

well.........the other broker said he wasnt made redundant. I'm assuming now he was sacked. The other broker is going to look at another deal for us but just cant believe he hasnt even applied.

I also wonder if there's some kind of identity theft going on

OP posts:
conniedescending · 07/04/2008 20:39

sorry... forgot to thank you all.
Am just so gutted as we had applied in plenty of time to avoid being where we are and now we have another 2 or 3 payments to make to Northern Rock which we so cannot afford.

OP posts:
lilyloo · 07/04/2008 20:40

Connie as i said dp will deal with this straight away for you if you contact him either way hope you get sorted not really the stress free experience it's suppose to be.
Think i would be wary going to someone reccomended by him who seems to be messing you about already.

margosbeenplayingwithmynoonoo · 07/04/2008 20:43

They should treat your complaint as an FSA complaint. I would contact them tomorrow if you think that he was dishonest. They can explain the complaints process to you. I work in a bank - their complaints process will be simlar to ours.

BigGitHamsterKillingDad · 07/04/2008 20:47

I'd contact the mortgage centre and put in a complaint, they have to respond to you pretty quickly and I would be asking for your money back saying that no mortgage submission had taken place. I would threaten to go direct to the FSA as well that should get them moving pretty quickly.

conniedescending · 07/04/2008 21:00

Thanks lilyloo......I'll see what happens tomorrow when they get back in touch

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