Mortgage Advisor Liability - Free Advice

Questioner

Dear Sir or Madam, We applied for a mortgage through a mortgage advisor to purchase our dream home. The advisor indicated that we would be 100% guaranteed to get the financing after an initial consultation. Unfortunately, we were rejected by a financial institution and we are left with a bill of over 2000 euros. If he had indicated in advance that we would not get the mortgage, we would never have done business with him. Can we hold him liable for the costs incurred? Because now he demands that we pay his consultancy costs.

Lawyer

A mortgage advisor must fulfill his duty of care, i.e. he must exercise some caution regarding the financing. Providing security while this has not been done well-considered can lead to compensation. If desired, I am prepared to look deeper into your case.