Remortgage issues

[KingArthur1964]

Hopefully I'm posting in the correct forum, please suggest a better one if not.

Background:
I had an interest-only mortgage and the full amount is now due to my current lender. Due to health reasons, the whole process has been slowed down, but I found a new lender through a broker.

What Happened:
In June I started the process by contacting a broker and the broker found a new lender and the application was accepted.

A survey was done, and the solicitor prepared all documents, details of my block of flats insurance, a copy of my lease, my signature witnessed,pay slips, credit checks and all the other stuff involved, everything was OK.

A completion date for my current lender to receive the payment was set for November 25th, both the new lender and the broker emailed to confirm this.

The Issue:
On the completion day, I was informed by the solicitors instructed by the new lender that they just discovered that the case was closed by the new lender because the new lender hadn’t received a response from the mortgage broker. The solicitors advised me to contact the broker to proceed.

When I asked the broker about the problem they mentioned an "additional lending" issue which had been refused, I clarified that there was no additional lending requested, and it turned out they were referring to the broker’s fee, which was already part of the process and not a new charge, which was £600.

Even after agreeing to pay that fee, the process had to be restarted, but the broker said they would fast track the process and it would take a week.

The the broker then said a few days later that I need to have a new survey done as the current one is three months old, I am now getting phone calls from another surveyor from the one used before, so I suspect I will have to start everything again, even possible with the solicitors.

I am going to ask the brokers if they can arrange for the original surveyors to be used as I had confidence in the person they sent.

I don't believe the brokers are being truthful, I suspect they have done something wrong, I never asked for additional lending and why would the lender close the case but the solicitors still continue to work on it do you have any idea what's happened here?

I have been accepted again by the lender but the whole process is taking a toll on my health.

It certainly sounds like the broker has dropped the ball and has not beenopen about it. First step is to ask them for a detailed written explanation. It will make it much more difficult to fob you off plus writing something that isn't true could impact their insurance.

It sounds like the broker has let you down for sure. If the lender closed the case because they “didn’t get a response”, that usually means the broker missed something or didn’t reply to a request in time. Lenders don’t close live cases for no reason, especially not right before completion.

A new survey being needed also points to delays on the broker’s side rather than the lender’s. If the lender thought you were still progressing, they would have accepted the original report.

I’d push the broker for a full explanation in writing and consider making a complaint if they can’t give a straight answer. You can also ask the lender directly what caused the closure so you’re not relying on the broker’s version.

The good news is the lender has re-accepted you, so it should still go through, but the confusion is almost certainly down to poor handling by the broker rather than anything you’ve done.