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“New Homes Group = No home Group”

written by on 22/07/2013

Being forced to use a particular mortgage broker is never a great part of buying a new house, especially if you want to put a down-payment of just 5%, but we were unlucky enough to have to use The New Homes Group, also called the New Homes Mortgage Helpline (Essex).
After the initial phone call where all the financial figures, expenses, debt etc were given we were given the assurance that they were confident that they could find a suitable mortgage and indeed received a mortgage promise from one of their mortgage suppliers- that is the positive part of the review complete.

Following the mortgage promise, we had a visit from their sales rep, erm I mean adviser, where we again gave all the relevant details regarding finances in great detail, supplied statements, certificates, everything (and I do mean everything) financial that could possibly be needed to continue the mortgage application.

Several days later the mortgage company raised a question with regard to a credit check stating that we had not given all the details they required. Anyway, the mortgage provider pulled out and following investigation it turned out that the Sales Rep, sorry, adviser had given the wrong information to them. Anyway, on to our second sales rep, oops, as the initial one was off on holiday it was passed to someone else to deal with. (By the way, we paid for this amazing service).

Lots of promises, mistakes were made, going to the top to solve the problem etc. Anyway, the following day sales rep number two went away on holiday- amazing isn't it!

Completion date is due in four days time after which time we could lose our deposit on the property as it is a new build- but no mortgage to continue.

Absolutely rubbish, If you have to use this company then good luck. If you are dealing with their Sales Rep (or whatever they are supposed to be) you may like to investigate mortgage rates to see if they are competitive (we found they were not) and for us the personal insurances (bit like PPI ;) ) that they make you buy as part of the mortgage set up was way above the cost that we could get on the internet with 5 minutes searching.