Icon finance has come under fire for failing to pay fees on time.
One broker claims the Hampshire-based packager has delayed paying out £25,000 in proc fees.
Icon Finance was previously known as Non-Status Mortgage Company, based in Surrey, but changed its name in April this year.
One broker, who wishes to remain anonymous, took out two sub-prime mortgages with the company in December 2003 when it was still known by its previous name and although the broker was paid for his first case he has still not received payment for the second.
The broker says: “I had no problems with this firm when it was called Non-Status. It was only when it changed its name that I started having trouble.
“I shouldn't have to go through this with a packaging company – it has been going on for two months. When I call, Icon tells me that the cheque is on its way or that it has posted it but it still hasn't arrived. When I asked what address the cheque had been sent to, the company couldn't come up with an answer.”
The broker was first told four weeks ago that the cheque had been sent out and after it failed to materialise solicitors acting on the broker's behalf sent a formal letter of demand.
A Icon Finance spokesman tells Mortgage Strategy: “As far as I am concerned the case was done and dusted last Tuesday or Wednesday. As far as I know he has been paid.”