How long would you wait on a broker?

Just curious on how long would you wait for a broker to get back to you before you give up and move on. After the applications for a couple of refinances had been submitted we enquired after a couple of weeks about its status with the broker. 4 subsequent follow up emails and a couple of unanswered phone calls in the next 3 weeks...and still not a peep.

This is a broker that's quite active on this forum and other forums so I don't think there has been any medical emergency or anything like that. My question is would you walk away now and use a new broker? If so, any advice about how to manage the existing application since we have no idea of its status?
 
I bet I know who it is. Same thing has happened to a few others here :)

Is your purchase going to fall through as a result? If so, get another to rescue you.
 
It's not going to fall through as it's a refinance to extract equity but definitely holding up further purchases. Not really sure what the problem is, hope it's not a personal problem for the broker but the lack of communication completely is pretty unprofessional.
 
I can't speak on behalf of other brokers, but 3 weeks with no update for a submitted deal is unprofessional. Most brokers are quite busy and work on a 7 days schedule with multiple loans running at the same time and it's common for the odd email/phone call to slip by -but with 4 unanswered email/calls over a 3 weeks period that's just poor form- unless it's an medical or family/personal emergency.

As courtesy + since it's a submitted deal already i would send one last SMS and email as a follow up and take it from there.
 
Not really sure what the problem is, hope it's not a personal problem for the broker but the lack of communication completely is pretty unprofessional.

Hiya

Is there someone answering calls in the office or are you not able to get onto anyone?

Cheers

Jamie
 
I would not be happy, I aim to return all calls same day, I see people 7 days and will often take calls up to 11 pm at night.

If you don't look after your clients someone else will!

Cheers,
 
Thats poor service, Its unfortunate ones like that can affect the reputation of us hard working brokers, especially these days as finding good clients is not necessary easy!
 
There are some very good mortgage brokers on this forum (from reviews that I've read).
I personally have only used Jon Mardell and he's excellent. So if you're not happy with your broker, switch!
 
I wouldn't be happy, thats extremely unprofessional. I would advise them to stop all work in progress and find someone to assist.

I've had the same thing happen to a client of mine who I was lead to believe would be able to obtain finance quicker through the broker. So I stopped the application and handed over the client to a broker on this forum for them to assist as they said they could make it happen. I was under the impression I was doing the best thing for the client... In the end client rang me multiple times over 3-4weeks wanting updates as broker wasn't getting back to them as agreed and in the end didn't end up getting them the finance.

Also just to add it's impossible to answer everytime a client calls, be it that you're speaking with a different client, inputting a difficult application or speaking with a credit officer.

But not returning calls at all is unacceptable, I advise all my clients that they will be called back the same day before I leave the branch... often they are surpised that I'm calling them after 7PM but sometimes it's the earliest I can get back to someone. And not returning emails it's crazy, email is such an easy way to communicate as can be done inbetween appointment or whilst clients are reading through contracts etc.
 
Hey starter,

Yes 1 more for Shahin.

I had similar issues to you and gave up after a week of waiting around ... prompt and friendly advice 24/7 literally.

He has completed a refinance for me within the month from valuation to money in my offset.
 
Interesting!!
Yes very. I would never ever ever ever allow this to happen in my business. Disgusting IMO.

Just cleared a 3 month bottle neck in my business and can honestly say no one was left waiting for more than 3 working hours to an email, call or txt. I don't take on new enquiry / clients if I can't manage it. Open for new business now.
 
Yes, that is not accceptable. I am overseas at the moment but still answering emails the same day and have phone diverted to assistant.
 
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