Hi
I want to know, according to UK laws and FSA regulations what can I do if my mortgage broker lied to the lender about my income? I accidently came to know this and broker is not yet accepting this. Mortgage lender is now asking for income proof (which broker wasn't expecting) which would result in rejection in mortgage application. I have signed the document that the information in application is correct, but whatever was shown to me was different info. and not the one which is sent with application. and application was made on date prior to my signing date. What can I do to teach them a lesson, to get compensation. prefferably I do not want to spend money in hiring lawyer. The firm is FSA regulated, but it does not comply with FSA in this matter.
2007-09-09 10:27:31 · 6 answers · asked by Hitesh P 1 in Business & Finance ➔ Renting & Real Estate
You signed the application with the information as stated, and thus will be held to that. You can claim someone changed it, but can you prove it? Hate to say it but it sounds more like you also tried to get away with something (IE knew it was wrong) but thought you could get away with it, and now where caught and am looking for a scapegoat . Now you want them to pay because you are not eligible for the mortgage. Give me a break
2007-09-09 11:59:18 · answer #1 · answered by Pengy 7 · 0⤊ 0⤋
Do not go to the closing. Cancel the mortgage application, and go to the bank for your mortgage. Get the mortgage that you can legally qualify for and don't get in over your head. Lenders are putting everyone under a microscope right now.
2007-09-09 10:35:30 · answer #2 · answered by northville 5 · 1⤊ 0⤋
have confidence me, i'm sympathetic on your subject however the nice and cozy button is which you signed the perfect application at remaining that had the earnings as pronounced on it. for this reason it is so important to study what you're signing. That mentioned, you're entitled to a replica of your unique application. He can threaten all he needs, there is not any longer something incorrect with offering you with a replica of that application. he's in simple terms attempting to hide his very own loan fraud. call the Finance branch on your state and locate out who regulates brokers. report a proper whinge with them. If he works for a brokerage, call and ask to talk to the administrative/proprietor. Get that individual's call and deliver them a letter explaining what occurred and what he advised you. call for a replica of the unique application and reimbursement. as quickly as you have that application replica you have some data of his incorrect doing. the single solid element related to the cutting-edge upheaval in this industry is that rats like this one won't stay to tell the story. solid success.
2016-11-14 19:30:26 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Looks like now the broker is going to have to alter your proof of income to match what is on the application. This could get to be a real mess. Over here that is called fraud.
2007-09-09 10:35:14 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Call FSA and inquire with them . . .
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2007-09-09 10:33:05 · answer #5 · answered by kate 7 · 0⤊ 1⤋
sounds like all you want is $ compensation
2007-09-09 10:35:21 · answer #6 · answered by Mopar Muscle Gal 7 · 0⤊ 1⤋