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Hi All,
First time post here but hopefully a simple question and a straightforward answer ::wishful thinking::
A broker failed to provide up to date terms and conditions of a mortgage that we initially accepted. When a particular clause of the correct terms and conditions came to light, it forced us to pull out of the process; loosing fees already paid to the mortgage company.
The broker has admitted in writing that they were unaware of the clause in the mortgage terms when the recommendation was made but have offered a goodwill payment - substantially less than the fees already paid.
I wrote to the broker stating that I believed that they had failed in their duty of care as mortgage brokers, under the supply of goods and services act, to provide correct and up to date information regarding the product that they recommended.
They wrote back stating that 'mortgages' do not come under this legislation.
I am not referring to the mortgage in this instance but the service provided by the broker.
Am I right in my assertion that the broker service is bound by the supply of goods and services act?
Much appreciated.
First time post here but hopefully a simple question and a straightforward answer ::wishful thinking::
A broker failed to provide up to date terms and conditions of a mortgage that we initially accepted. When a particular clause of the correct terms and conditions came to light, it forced us to pull out of the process; loosing fees already paid to the mortgage company.
The broker has admitted in writing that they were unaware of the clause in the mortgage terms when the recommendation was made but have offered a goodwill payment - substantially less than the fees already paid.
I wrote to the broker stating that I believed that they had failed in their duty of care as mortgage brokers, under the supply of goods and services act, to provide correct and up to date information regarding the product that they recommended.
They wrote back stating that 'mortgages' do not come under this legislation.
I am not referring to the mortgage in this instance but the service provided by the broker.
Am I right in my assertion that the broker service is bound by the supply of goods and services act?
Much appreciated.
