cold calling mortgage broker - strange

[benjy48]

Hi,

 

For the fourth time I have been getting these calls from some "mortgage broker". They call my mobile phone using this number 0203145133164, which is unlisted and not recognised by any phone company(I think its offshore). Anyway an Indian sounding guy goes over my details and tells me that the value of the property, based on the mortgage and secured loan is way over the mark. Lets say my mortgage and sec loan combined is 220,000, they would tell me that I should say 280,000. Then the first person passes me on to another Indian sounding guy who confirms these details and strangely asks me what the property value is, to which I have to reply what the first guy said. Then they pas me onto an english sounding guy who tells me that they will send me details by post of new figures that would reduce my combined motgage/sec loan monthly outgoing by quite a lot, never telling me how much. So the English sounding guy says that he will call me back straight away as the phone he is using has not got good reception, to which he hangs up and thats it no call back. Like I said this has happened four times. What gives?

Anyone else experienced this nonsense before and what is their agenda?

[gni03349]

Well... without them telling you who they are, or writing to you, why are you even listening to them??

 

IF you happen to be looking for a mortgage broker, then look for one yourself.. don't trust anybody who just happens to call.

 

If I get cold called, I just tell them its up to ME what I decide to buy, and I don't need anybody else to tell me what they think I should buy... whatever it is.

[benjy48]

GNI03349 - you are absolutely right. Why have I wasted my time with these people four times, I suppose because I was curious, and I actually did tell them to get lost the third time around. Its just strange the way they do it and was just wondering if anyone else has had a call like this. I cannot be the only one. I will ignore their calls from now on though. Thanks for the kick in the teeth wake up call, GNI!!:grin:

[gni03349]

Lol... you're welcome .

 

Like I say, when I get cold called, I just ask them why they think I need what they wanna sell. I also mention that, as they don't know the first thing about me, or my lifestyle etc etc, why on earth do they think I need their wares. They go away then.. usually.. but if not I find a swift "f**k off" usually helps too lol.

[MortgageTalk]

Cold calling for mortgages in the UK has been banned by the Financial Services Authority and they can levy severe fines. However, the FSA cannot control calls from abroad. I suspect someone has set up an 'office' outside the UK to make initial contact (not illegal), and after a dialogue you are eventually passed to the 'real' man. He claims phone trouble and asks you if it is alright to call you back. You reply in the affirmative, and consequently the call is no longer 'cold' as you have requested him to call you! If a mortgage broker is any good then he/she should not have to revert to such shoddy practices.

[benjy48]

MortgageTalk, you are right, but what is their agenda and what do they get out of it by not calling me back, I don't get it!

[MortgageTalk]

You are right it doesn't make sense. Failing to follow up the lead wastes time and money, or perhaps your Loan To Value was too high to consolidate? Have you checked your phone bill to see how much the 0203 call cost?

 

MortgageTalk

[benjy48]

MortgageTalk, the thing is they call me on my mobile, I never call them, I can't. That number cannot be reached.. and I don't think it is a reverse charge call either. I have a pay as you go phone. While on the call, I tell them that they cannot give or guess an outlandish amount on a property when a valid valuation shows a truer value. However they insist that it would be ok and the rest is history. I just don't know, but I agree it looks shoddy and underhanded, and I will tell them to go away in no uncertain terms.

Edited June 18, 2008 by benjy48

[MortgageTalk]

Weird! Unless they are trying to obtain confidential information for cloning identities? Personally, I would never provide personal and confidential information over the phone unless I knew the identity of the caller, and even then I would still be wary!

 

MortgageTalk

 

Please note I am commenting on posts in general and not providing individual mortgage advice or recommendation, which would require precise details of your circumstances.

[OLIVE.FAMILY]

Hi all,

 

I get these calls all the time. Like you say it is a Indian speaking guy who reckons he is calling on behalf of all the National banks and about how high my interesy rate is and how it can be lowered. I do have fun with these people.

 

ERM sorry but you have the wrong number. Sounds so simple but they are convinced they have the right number and are baffled. Even my 11 year old wants todo his Mrs Doubtfire impression on them just to confuse them.

 

Usually i dont answer as I have caller ID.