Disappointing experience: mistakes, delays, and poor communication
I had a very disappointing experience with Mortgages 2.0 Ltd during my recent purchase of a new-build flat in London.
While my broker initially appeared helpful, several serious issues arose during the mortgage application process. Most notably, incorrect information was submitted to the lender regarding the source of my deposit. My deposit included both savings and an international gifted contribution from my family, but it was incorrectly declared as entirely my own savings. This mistake was only discovered two days before my scheduled completion, triggering a last-minute AML review by the lender.
As a result, my family overseas had to urgently provide documentation during a national holiday, I had to pay for expedited translations, and my completion was delayed. The entire situation caused significant stress at an already difficult stage of the purchase process.
There were also delays earlier in the process relating to a down valuation appeal that ultimately proved unnecessary, as the mortgage was later approved by the same lender anyway. To this day I have not received a clear explanation as to why this option was not identified earlier.
Equally concerning was the way my concerns were handled when I raised them. Communication was often slow or dismissive, and when I escalated the issue, several of my questions remained unanswered despite a lengthy investigation process. Some of my emails raising legitimate concerns were simply ignored.
To their credit, the firm eventually upheld parts of my complaint and refunded my broker fee. However, the overall experience — both during the mortgage process and during the handling of my complaint — left me feeling unsupported and unnecessarily stressed.
Based on my experience, I would advise anyone using this firm to carefully check that all information submitted to lenders is accurate and to be prepared to actively follow up throughout the process.
