Complaint about mortgage broker

cemel69

Registered User
Messages
16
Hi, I am looking for advice/opinions on making a complaint about a mortgage broker.

Last year my husband and I started a very long drawn out process of getting our first mortgage to buy our first home together. Finally we have moved into our new home. However, some things happened with our mortgage broker which has soured our experience.

To cut a long story short our mortgage brokers secretary forged our signatures on documents for the bank who of course realised this. We then had to get solicitors to verify that we were not at fault and not trying to defraud the bank in any way and the mortgage broker had to admit that his secretary was entirely at fault. Thankfully the bank accepted this and we still got the mortgage. I do know that since then the secretary has left ‘of her own accord’.

However, since this we have had some further small details to sort with the mortgage broker and his attitude has been less than helpful. We have been trying to get our original paperwork back from him for two months without any success. He just tries to fob us off or avoids our calls.

So now we have come to a point where we think that we should make a complaint. We are not looking for compensation or anything like that but I would like to make sure that his business is checked out and that he cannot get away with treating his customers in such a way.

Any advice/ comments would be great.
 
S

Senna

Guest
Should the financial regulator or consumer ombudsman be a first point of call, some other poster may know more.

Did you continue getting the mortgage with this broker even after you knew he had been dishonest?
 

NorfBank

Frequent Poster
Messages
2,103
There is a procedure for making complaints about a financial service provider. This should be on the terms of business than the broker should have given to you.
Before the Financial Services Ombudsman (FSO)will investigate the complaint, the internal complaints procedure of the broker will have to be exhausted so your first step should be a complaint in writing to the broker. If you are not satisfied with the outcome then you can ask the FSO to investigate.

http://www.financialombudsman.ie/complaints-procedure/default.asp
 

Brendan Burgess

Founder
Messages
39,590
There are two separate issues here.

1) You can complain to the Financial Services Ombudsman if you want compensation. As pointed out by NorfBank, you must exhaust the internal complaints process first.

By evening mentioning the Ombudsman, I would imagine that you would get your paperwork back immediately.

2) If you feel that the mortgage broker was complicit in the forgery, then you should bring it to the attention of the Financial Regulator. They will investigate it, especially if you have hard evidence. But they will not tell you the outcome of the investigation.

It's unlikely that a secretary forged a signature on her own initiative.

Brendan
 
M

mercman

Guest
then you should bring it to the attention of the Financial Regulator.
You cannot bring a complaint directly to the Regulator. Your complaint must go through the Financial Services Ombudsman who must then direct your complaint to the Regulator. Apparently they have an understanding between both parties.
 

living:room

Registered User
Messages
40
I also experienced this when applying for a mortgage through a broker, about 4 years ago. The broker forged my signature on documents sent to the bank and the bank contacted me to verify the release of the documents requested. The broker tried to pass the whole thing off saying that I had actually signed the document and must have forgotten!

In the end, he didn't procure the mortgage I wanted and I asked for all paperwork to be returned, which included - yes, you've guessed - the document with the obviously forged signature! Not exactly a master criminal, then..

I didn't pursue it at the time because the broker was connected with someone I knew but I would never use an intermediate again. I went with EBS who were extremely helpful, gave the mortgage I wanted and have generally been a pleasure to do business with. They do not use mortgage brokers at all, don't pay them fees and therefore pass on the savings to the customer.
 

LDFerguson

Frequent Poster
Messages
4,100
I didn't pursue it at the time because the broker was connected with someone I knew but I would never use an intermediate again.
I think this is unfair because you are assuming that all intermediaries are dishonest and commit fraudulent acts, which is not true.

They do not use mortgage brokers at all, don't pay them fees...
Yes they do. They even set up a dedicated brand for brokers - Haven Mortgages, which pays commission like all other lenders who deal with brokers.

...and therefore pass on the savings to the customer.
What savings? EBS mortgage rates are not the best in the market by any means. So what savings did they pass on to you on your mortgage?
 

obama

Registered User
Messages
30
I have to agree with Liam. Not all mortgage brokers are con artists. There are a few who would buy and sell their grand mothers but they are a minority.

With regards to going straight to a bank to organise your mortgage, this is not the best idea. A broker will source the best deal on the market to suit you, which is what they are authorised to do.

With regards a complaint I would hope you contacted the FSO and also that the lender terminated their agency with the broker in question.
 

Bronte

Frequent Poster
Messages
13,726
With regards to going straight to a bank to organise your mortgage, this is not the best idea. A broker will source the best deal on the market to suit you, which is what they are authorised to do.
This is not necessarily true. There is no guarantee that a broker will get you the best deal on the market.
 

cemel69

Registered User
Messages
16
Hi All,

Thanks for all the advice.

We had to continue the mortgage process with him at the time because this forgery was only seen when the bank were making the final checks. We were being told that we had been accepted and the mortgage cheque was in the banks (by the same secretary) so we had no idea what was going on until the bank came back to us through the mortgage broker to say that they wanted our signatures verified on this document by our solicitor. When I questioned what document it was on the broker couldn't find the copy (conveniently) but I knew everything that was signed and knew we had not signed this document.

At the time we were so stressed we just did what we were asked by the bank so the mortgage went through as planned.

This mortgage broker is a small independent broker just him and his secretary so I was not sure of the complaints procedure. I think that my best course of action is to write a letter of complaint and give him a deadline to return all paperwork and if he does not comply I can then make an official complaint to the ombudsman.
 
Top