AWD Home Finance?

scottishsuz · 15 August 2007 at 12:20PM

Hi

Just wondering if anyone has had any experience of AWD home finance? They've just phoned me and offered me any appointment to discuss my mortage renewal. I'm due to renew after 31st of Dec. Any opinions good or bad would be greatly received.

Thanks

scottishsuz

Moggett · 15 August 2007 at 12:49PM

Can't say I've ever heard of them but one thing you should bear in mind is that unless you have given them your express permission to contact you in the past they should not be cold calling you. Cold calling is now against FSA regulations and if they have cold called you should report them.
Before you decide to go with them ask them about any fees they charge and whether they are whole of market etc. (plenty of discussion about that on this forum!)

scottishsuz · 15 August 2007 at 3:22PM

Thanks Moggnet.

They phoned me in about Feb time, I think from memory I hadn't asked anyone to phone, and this is them phoning back to arrange an appointment now my mortgage only has 4 months of the current deal left. Can you get a mortgage promise for that long?

I'm thinking not?

When did the regulations about cold calling come in?

I read somewhere else that they charge about a 2% fee, if thats the case I'll be politly but firmly asking the broker to leave my flat. My mum is an accountant so I'm going to ask her to come along in time for the appointment so she can keep me right. She doesn't deal with mortgages but she is great at sums etc and can be objective for me. I'm usually pretty good at telling people no, but having back up makes life a lot easier.

Moggett · 15 August 2007 at 4:06PM

I think the new regulations came in when the FSA started to regulate mortgages which was about November 2005 if I remember right.

Just had a look on their website. they charge a fee of 1.95% of the loan which is well out of order!!!

Most lenders mortgage promises are valid for anything from 30 days to 90 days with mortgage offers valid for usually 3 months although they can be extended.

I'd be inclined to cancel the appointment and go and find a no fee broker!!

scottishsuz · 15 August 2007 at 5:47PM

Thanks again.

That 1.95% fee plus the new mortgage lenders fees and survey fees(budgeting for about £1000), plus my exit admin fee from my current lender would take my mortgage up to almost what it was when I first got it, effectively wiping out two years of payments!!

Will be cancelling the appoinment asap.

mick250 · 15 June 2008 at 9:08PM

They have continually phoned me over the past few weeks and told me I was paying too much on my car loan and that they could save me money as they have access to the market that I wouldn't have!!

I had an illustration from them what a joke my loan with Lombard is 6.9% APR for 4 years and they offered me 5 years at 12.5% APR.

minimike2 · 15 June 2008 at 11:58PM

AWD are a huge outfit. One of the biggest as far as I know.

They do a lot of online stuff. You may find you have consent for them to call when you did something, that could have been anything potentially, online, where you gave consent for your details to be passed to third parties.

AWD will bascially just arrange a self employed broker to come and see you, I dont think they actually employ advisers, are just an umbrella firm.

Unless anyone else can correct me? But I think thats how they work.

Tiddler_2 · 16 June 2008 at 9:01AM

They were previously Carrington Carr - wouldn't touch them with a barge pole personally

homer_j_3 · 16 June 2008 at 10:48AM

Stay clear, the 1.95% fee is not worth it.

£1950 for every 100k mortgage. That would be some money saving to get that back. I would call them back and cancel the appointment.

vic76 · 11 July 2008 at 2:51PM

AWD have many different arms and have a mixture of employed and self employed advisers.

They did not used to be Carrington Carr this same person keeps posting this on any thread realting to AWD, AWD is a huge European wide company that took over lots of small companies including Carrington Carr

I imagine you are talking about AWD Home Finance who offer a very particular service relating to loans and mortgages and all aspects of "home finance" & in particular I believe to those people who perhaps do not have the most favourable credit ratings - they are not just a mortgage broker but offer a whole financial service

There are different arms of AWD that can offer you a mortgage over the telephone from the whole market on commission rather than a fee just like the majority of mortgage brokers do

JUst visit www.moneyextra.com from AWD to check out the mortgage deals that can be taken out in the usual way

I doubt very much that anyone is cold calling you as how would they know your details and that your mortgage is ending, you no doubt took out your mortgage with one of the many companies they have now taken over and own the database and customers on it

happybroker · 11 July 2008 at 2:55PM

The AWD Home Finance website tells you that it used to be Carrington Carr and the register at companies house also states that AWD Home Finance used to be called Carrington Carr.

Vic you are starting to make yourself look a bit silly now, I understand your loyalty as a member of staff (which you confirmed in a post on another thread) and the fact that you continue to post untruths regarding your own company will not instill confidence in people to deal with you.

AWD Home Finance?

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