I used Censeo twice in one year. The first time, with a different broker, they were great. Smooth process, clear communication, no issues. That is exactly why I trusted them again when my purchase fell through and I needed a new mortgage for a different shared ownership property.The second time, with a different broker, was a complete breakdown in competence.I was recommended a lender that was unsuitable from the outset because of how they treat housing association incentives. My deposit and incentives were declared from day one, so this should have been obvious before any application was submitted. Instead, I only found out after fees were paid and the process was already underway.Twice in the same year I was applied for a 95% LTV product when, once incentives were factored in, the true borrowing level was closer to 96% LTV. This is not obscure information. The way incentives are treated is clearly set out in intermediary guidance and easily accessible to brokers. It should have been identified before any application was submitted.I paid £495 twice in broker fees, plus two valuation fees, and ended up with multiple hard searches on my credit file. All entirely avoidable if the advice had been correct.What makes this worse is that the same lender had already been used earlier in the year by the firm. That application failed for a different reason, but it was still unsuitable based on my circumstances. Two brokers, same firm, same fundamental mistake.Documents weren’t sent when they should have been, which delayed exchange and completion. I was also given an update that later turned out to be wrong, and after that my broker never spoke to me again. No apology for the unsuitable advice. No apology for the incorrect information. Just silence.Protection advice was non-existent. Life insurance and income protection were never discussed until after exchange by a case manager. My existing cover was based on the previous purchase and no longer suitable. I had to sort that out myself. No checks, no follow-up, no ownership.The housing association was involved throughout and even then the service was not delivered properly or efficiently.Even after a formal complaint, the firm has refused to take responsibility. I now have an ongoing case with the Financial Ombudsman because Censeo maintain they have done nothing wrong. According to their internal complaints process, unsuitable applications and incorrect information are apparently acceptable standards.From my perspective this fell well short of basic regulatory expectations, including MCOB 4.7A.2R, MCOB 2.5A.1R, FCA Principle 2, and FCA Principle 7.They may be recommended for affordability assessments, but I would strongly encourage shared ownership buyers to look at free or independent brokers who actually take the time to get things right. Do not feel pressured to use them just because your housing association suggests it.
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