Legal advice for mortgage problems

Questioner

Dear Sir/Madam, We have hired a mortgage advisor to finance our new-build home. We were presented with a monthly cost overview in which we would pay around €700-€800 for the first few months. This is because we would not yet use the entire construction depot. We currently pay €1100 per month. We asked the mortgage advisor for an explanation and he did not understand it either and would ask the mortgage provider. The latter responded that the current monthly amount is correct because they do not offer any compensation for the amount not yet withdrawn. The advisor states that he was misinformed and therefore misinformed us, but that it would not have made a difference in terms of advice to us because the interest rate at a mortgage provider that does offer compensation for the undrawn amount differs by 0.4%. I believe this, but for us it would have definitely influenced our choice of mortgage provider. We currently live in a rented house while waiting for the completion of the construction of the new house and therefore have double costs. Financially, we are now backed into a corner. He also states that the mortgage provider has hired a lot of new employees from other mortgage providers that do offer compensation for undrawn amounts. I see this as a poor excuse. Ultimately, I think he is responsible for the advice he gave us. Our advisor says that he can compensate for the high monthly costs by applying for maximum mortgage interest deduction. This does indeed make a big difference, but it does not change the fact that he has given us incorrect information and that we may therefore not have been able to make the right choice of mortgage provider. We pay more than €3000 for the consultant's services. Can we hold the mortgage advisor liable for the higher costs that we now experience monthly or receive compensation for the service costs that we have paid? Thank you in advance.

Lawyer

The issue is whether the advisor can be held responsible for the wrong advice. If it was crucial for you which mortgage provider you could choose and your costs would therefore be low, then the advisor's mistake can be held responsible. After all, he should have investigated this better and come up with alternative mortgage providers. The fact that he can make up for it by means of maximum mortgage interest deduction is irrelevant here. I advise you to hold this advisor liable and claim compensation for the service costs or the difference of the high monthly costs. If you cannot reach an agreement together and a legal dispute arises, please contact me directly for consultation.