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My question to anyone who can help is this we received the keyfact from our mortgage company Abbey but did not get the keyfacts from the mortgage broker Bridgewater House UK Limited and they have made charges of in excess of £6029.00. They say we signed the a customer survey which we did but it did not specify whose keyfacts we were signing to say we had recieved when questioned the broker said it was in relation to the keyfacts we had received which were from Abbey. Can I claim back these charges as I was unaware is there not an FSA regulation that they have to provide keyfacts before a mortgage is complete?:confused:

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  • 2 weeks later...

Hey Conni

 

The £6029 charges....was this their "broker fee"? or was it a commission from Abbey payable to the broker?

 

The process with mortgage brokers is normally the following when you use a broker:

 

Before they give you advice they should issue a Terms of Business letter and an IDD, did they do this?

 

The "customer survey" is their Know Your Client questionnaire which has all your personal details and you should sign to confirm all info is present and correct. This is a record of advice.

 

The mortgage broker should issue a KFI before you or they apply to the Abbey on your behalf. This should clearly state the the fee you are paying or they are receiving.

 

Gte me the following info and I will let you know my thoughts, I want to see if they ahve followed the necessary sales process:

 

-when did thye issue the Terms of business and IDD to you, manually at a meeting or by email?

 

-what is the date on their customer questioniare eg the date you signed it?

 

-did you sign a fee agreement with the mortgage broker?

 

-did they issue a KFI document to you and when, what is date on it? or did this come directly from Abbey and what was the date?

 

-what date did they apply to the Abbey for you, so date of application either date on the paperbased Abbey application or date submitted online to Abbey?

 

I think the FSA would want to see the KFI given to you before the mortgage is applied for.

 

Anyway give me more info and will see what i can do to help.

 

Fingers

 

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Edited by Fingers60
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