Dug the saph out yesterday, been away since August, car is totally fine apart from 1 niggling fault, it won't boost over 12psi.

Car was rebulit a while ago, and from what i remember i never had this problem before. Wehn i had the engine built and run in, it was fine, then i went to up the boost and it won't boost anywhere over 12psi.
When I accelerate it makes a "wheezing" type nosie which gets louder the higher up the rev range it goes, almost like it's a bearing in the turbo, but just doesn't SEEM like it's the turbo, if you know where I'm coming from.
Car has had a new intercooler and has also been rebuilt, just looking for idea of where to start, and i'm sure it's not the actuator before i get told to check that.
Cheers.