My Mortgage Broker And Mortgage Lender Are Idiots

Snakeoil SalesmanI’m not sure who’s to blame, but there is a definite breakdown in what I had hoped to be a smooth property purchase. I haven’t heard anything from my Mortgage broker in weeks- he was meant to get back to me regarding Northern Rock refusing to lend me money. He said he was going to work his magic and try to push through the deal. But of course, he never got back to me. Typical snake-oil salesman.

I called him earlier today, and he gave me some vague story about my Mortgage lender being really slow processing the agreement due to the Christmas period and all. For God’s sake, this time of year is DEAD, why would there be any form of backlog? He said he would get back to me shortly. Shortly? I think in Mortgage Broker/Estate Agent terms, that means next month.

If i’ve learnt anything during the purchase of this property, it’s that everyone is willing to do anything for you until you sign the dotted line. After that point, they forcefully hand over the baton and expect you to do all the hard work.

I don’t know whether my Mortgage broker is just being slow or whether he was being sincere about the Mortgage Lender being slow. Either way, I’m not too pleased with the progress at the moment. Actually, i’m not even vexed about the slow progress, I’m more annoyed about the fact that no one is communicating with me. I don’t mind delays as long as I’m kept in the loop, and not left outside in the cold like a tramp.

Sitting around waiting for others to do something doesn’t sit well with me, especially when I’m given the impression that the people I’m waiting on aren’t doing very much. Perhaps i’m being impatient. Or perhaps I’m working with idiots.

Anyways, no more messing around, from tomorrow i’m going to nag my Mortgage broker for answers, and i’m also going to call my Conveyancing Solicitor to find out how far they’ve got with all the “paperwork” they’ve been snowed under with.

5 Comments- join the conversation...

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ivana Reichelt 15th October, 2009 @ 15:34

My lender makes me turn into a big green monster.
My husband is in iraq. We are first time home buyers.I believe that is the main reason he is not working. My lender waits two days before to let me know we need 1500 dollars more to close. I scramble to get the money. everyday he has me driving an hour to drop off some paperwork. I've been in this process for over 5 months. Yesterday we were informed big possibility we won't get the house. Tomorrow is our deadline. We need a miracle. I cannot believe after all I have been through we will end up losing about 3 grand. There has to be something illegal he is doing and I swear I will find it!

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twattybollocks 15th October, 2009 @ 16:14

Go for it Ivana.

Hope you hubby and his colleagues are keeping safe in Iraq.

TB

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Amy G 9th July, 2011 @ 01:36

Sounds exactly like our experience a couple of years ago, extremely irritating for a 'simple' first time buyer experience!
Just happened to stumble over your site while trawling through research, on the brink of embarking on our first 'buy-to-let' adventure. I read through your journey of becoming a Landlord (years after the event...) so glad I've found this: the information, and humour, is invaluable! Thanks!

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Amy G 9th July, 2011 @ 01:37

P.S. you are American, yes?

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Ron 14th January, 2014 @ 14:56

About a year ago i was informed of a new mortgage packager called SPF funding based in Plymouth that insisted they were better than anyone else on the market and they had specialist lending facilities.
I discussed this with a few friends of mine and then we decided to give them a go with a few of our own personal cases.
At first we seemed to be kept informed by their main member of staff Mark Allsopp who can be pleasant at first but then completely shows his rude unprofessional arrogance as soon as you question him further. We have this broker swearing and making verbal threats to us which we recorded at the time. He is a complete conman who trades under various aliases such as Nathan Finn, Damain, Arthur Marshall, Andrew Ellis and so on.
He is a complete crook and basically creates and copies mortgage paperwork to make unsuspecting customers feel like they can get lending at some pretty fantastic rates. He also goes around the country recruiting brokers promising them great business terms only to leave them holding the can once he has obtained his money and done a quick runner.

This company creates lenders paperwork and poses as an outfit that is very legitimate. But under closer scrutiny it is very apparent that this organisation is about as fraudulent as they can get. They prey on individuals who require funding and charge very large fees in order to do so but have no intention of delivering the product.

Over the year we have countless updates where Mark or SPF constantly are blaming other parties for delays or innocent mistakes such as we have sent your completion funds to the solicitor but 24 hours later on more than 5 occasions it has not turned up and has been sent to another incorrect account.
They state that they have a credit line facility with Standard Chartered bank but the bank has never heard of them in any country apart from being mentioned associated to fraud. They also mention they deal with other lenders all overseas but when it comes to actually doing any professional lending they don't have one reasonable response to anything.
They have also made up solicitors websites to convince people that they work with other legal professionals.

They have taken thousands of pounds off people i know and never once refunded anybody even though they have a habit of making a promise in writing on email every week. Now it has got to the crux of the matter and they have ran out of reasons as to why they cant send the money over, they have quite simply done what all dodgy packagers and brokers do which is stop answering calls from clients.
Please beware of these guys as they are well known for basically stealing your money whilst promising you the earth in terms of financial products. They are currently in the process of a criminal investigation and prosecution.
I am sure you will see a lot more information on this outfit being publicised over time. Please beware.

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