Negative mortgage broker experience

[Hmainl]

Hi there

Just wondering about your experience with mortgage brokers.
We have just sold our property and are looking for a mortgage for a house that costs 350k. We decided to go through a mortgage broker.
We both have perfect credit scores good saving history and never missed a payment on a mortgage or loan we both have permanent jobs and each earn decent enough wages (over 50k each)
Everything was supplied to our mortgage broker 8 weeks ago but since then there has been back and forth looking for more and more information(first it was better scans of my husbands payslips, then it was clarification on pension payment, then further clarification on redemption figure of current mortgage) ... While we can easily get everything he asks for i feel totally frustrated that as a broker he didn't check everything at the start to make sure it was correct because it seems like the approval is taking forever. Like what exactly is the purpose of a broker? I feel like it would have been 100% quicker and easier to deal directly with the bank rather than going through a middle man.
He doesnt really respond very promptly to emails or calls and doesn't explain what exactly the bank is looking for so it causes more confusion than anything else.
What do you guys think?

 

[mf1]

Your answer.

"I feel like it would have been 100% quicker and easier to deal directly with the bank rather than going through a middle man."

mf

 

[Gordon Gekko]

My sense is that you’re being overly harsh. In my experience, whatever delays you’ve experienced would be far greater if dealing directly. And they do seem like minor issues, e.g. the bank looking for better quality copies, a query regarding a pension payment. Standard fare but the broker wasn’t Nostradamus. Banks query somethings and then let other things pass.

 

[Leo]

It likely would be quicker to deal with a single provider, but the broker will be dealing with multiple institutions. There's a wide variation in how the banks deal with applications. I've gone through it with a couple last year, and then approval renewal earlier this year with them coming back looking for more detail not at all unusual. With one, even on the renewal they sought different documentation and more detail on accounts held with other banks, taking ~4-5 weeks to work through.