Mortgage company wants clarity on lodgement

I think that is just a bit OTT Robin. The OP followed the advice of what is supposed to be someone in the know. The reason one uses the services of a broker is so that you do not go to the bother of approaching the banks yourself & have to figure out everything from scratch.

The OP actually thought not declaring this loan was improper but against better judgement went with what the so called professional told them.

It's not the OP who needs to be hung, drawn & quartered, it's the broker.

Due to the advice the broker gave the OP the details of loan application are now being questioned.

If I were the OP I would do as others suggested. Come clean & tell them the broker told you not to mention CU loan & just play plain dumb.

If they refuse the application then the OP has no choice but to move on & will have learned a valueable lesson along the way.

BTW OP you do not need a broker at all. You can approach the banks yourself & will be able to get as good a rate as any broker will get you by studying up on the rates offered beforehand. It really not that difficult a process. I have never understood the need for Brokers myself. I'm a lean thinker so I believe in cutting out the middleman wherever possible as they almost always have a cost associated with them that negatively impacts the customer.
 
Pauliwalnuts said:
I think that is just a bit OTT Robin. The OP followed the advice of what is supposed to be someone in the know. The reason one uses the services of a broker is so that you do not go to the bother of approaching the banks yourself & have to figure out everything from scratch.

The OP actually thought not declaring this loan was improper but against better judgement went with what the so called professional told them.

It's not the OP who needs to be hung, drawn & quartered, it's the broker.

Due to the advice the broker gave the OP the details of loan application are now being questioned.

If I were the OP I would do as others suggested. Come clean & tell them the broker told you not to mention CU loan & just play plain dumb.

If they refuse the application then the OP has no choice but to move on & will have learned a valueable lesson along the way.

BTW OP you do not need a broker at all. You can approach the banks yourself & will be able to get as good a rate as any broker will get you by studying up on the rates offered beforehand. It really not that difficult a process. I have never understood the need for Brokers myself. I'm a lean thinker so I believe in cutting out the middleman wherever possible as they almost always have a cost associated with them that negatively impacts the customer.
Click to expand...

Thanks for the back up ! :) I will see what happens this afternoon as broker approaching UWs again to come clean.
 
Pauliwalnuts said:
It's not the OP who needs to be hung, drawn & quartered, it's the broker.
Click to expand...

No. They are both complicit in a blatant attempt to deceive the financial institution providing the loan.

People here seem to think there's nothing wrong with that. Tut, tut naughty mortgage broker, poor micro led astray.

And then the same people wonder why the country is bankrupt.
 
Robin Banks,

Just be careful you dont get altitude sickness on that very high moral horse of yours!!

Give the OP a break...

I assume you must be purer than the driven snow in all your dealings as otherwise you would adopt the attitude "Let he who is without sin cast the first stone"
 
"micro, not only would I refuse to lend you a red cent and blacklist you FOREVER, i would look at referring your application to the legal department as an attempt to extract funds under false pretences"

If the banks were to react in this fashion to everyone that ommitted to be 100% upfront I fear they would be out of business in double quicktime. And of course the said banks are 'Paragons of Virtue' and would never engage in any shady practice like overcharging or overlooking the scale of directors loans!

It must be great to be perfect Robin Banks.
 
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