Free financial advice that donates to charity - quotes4charity.co.uk

rug · 12 October 2008 at 4:05AM

Hi,
I just thought those of you with charitable minds might be interested in this free financial service offered by www.quotes4charity.co.uk (Q4C) which is also a registered CIC (community interest company)

I'm Trustee of a small charity which struggles to make enough money to oversee our annual budget and was recently introduced to Q4C and have since partnered with them. We have now started to recieve valuable funds via their service

They offer a freeservice / advice on financial products such as mortgages, insurance etc to the customer and are a whole market broker.

How they help charities is by donating 30% of the commision they recieve on selling financial products to a charity partnered with their service, or with a charity agreed with the customer that is not currently linked. Another 5% goes to their quotes4kids projects.

In the current financial crisis donations to charities are dropping rapidly so any help to your favourite charity and where you can save money and donate at the same time is a good idea I think!:j

Hope you find this useful.

Ian_Griffiths_Halifax · 12 October 2008 at 9:09AM

:spam: Reported.

We can all shout about our charitable donations.

Ian_Griffiths_Halifax · 12 October 2008 at 9:28AM

I find this quite offensive. As if no other brokers give anything to Charity.

We use our trading income to cover our running costs as would any other Mortgage Broker, whilst also generating income for charity, quite unlike any other Mortgage Broker.

rug · 12 October 2008 at 9:47AM

Sorry you find this post so offensive. I think its great that you and others give to charity also.

But Q4C is a CIC which is government regulated and they have to show, as a social enterprize, that a certain % of their profits go back to the community which is how they are so beneficial to charities in the long run and could generate a steady income in order to budget for future projects.

Ian_Griffiths_Halifax · 12 October 2008 at 9:47AM

This is the company which appears in their Privacy Policy. http://www.kevinmacadam.com/mortgages.php They have a Non-compliant website as they don't give comparitive APRs. Also, the above site states that they are Whole of Market and give Fees Free advice, whereas this website states a fee may be payable.

There may be a fee for mortgage advice. The precise amount will depend on

your circumstances, but we estimate it will be £750 payable on completion

I have no problem with the fee, but if there is one, it should be stated.

feisty1 · 12 October 2008 at 9:50AM

rug........ Are you aware of FSA guidelines on Financial Promotions. If not, I suggest you read up on it........quick!

I am a Mortgage Adviser

You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.

feisty1 · 12 October 2008 at 10:19AM

rug wrote: »

But Q4C is a CIC which is government regulated and they have to show, as a social enterprize

Do you think compliance at LIME would agree with you?

rug · 12 October 2008 at 10:53AM

Ian_Griffiths_Halifax wrote: »

This is the company which appears in their Privacy Policy. http://www.kevinmacadam.com/mortgages.php They have a Non-compliant website as they don't give comparitive APRs. Also, the above site states that they are Whole of Market and give Fees Free advice, whereas this website states a fee may be payable.

I have no problem with the fee, but if there is one, it should be stated.

I don’t claim to be a financial advisor I am a trustee of a charity that has started to receive valuable donations via Quotes4charity (Q4C) which other charity’s could benefit from.

What is written above I feel is a little misleading though as the name Kevin Macadam appears in Q4C privacy policy, not the company name or link as is suggested by Ian Griffiths Halifax. If there are concerns regarding regulations with this site which appears to be separate to Q4C, and it appears you know about this sort of thing more that I do, I suggest you report it to the appropriate bodies.

I find it interesting though that Q4C had a large write up by The Times in April 08 regarding the financial service they are offering to charities, surely The Times do their homework....?!

Maybe have a more detailed look at the Q4C website, copies of articles in the News section are there and you can check for validity on the main Times website http://www.timesonline.co.uk/tol/money/property_and_mortgages/article3676155.ece

In the current financial climate, where donations to charity are dropping rapidly, maybe more financial service company’s could set themselves up as CIC’s ..? Just a suggestion!

grogdog · 12 October 2008 at 11:23AM

in todays current financial situation i am afraid charity begins at home, and any donation i wish to make to any charity i choose will be for an amount i decide and to whom i decide not out of my income.

Ian_Griffiths_Halifax · 12 October 2008 at 11:26AM

rug wrote: »

I don’t claim to be a financial advisor I am a trustee of a charity that has started to receive valuable donations via Quotes4charity (Q4C) which other charity’s could benefit from.

What is written above I feel is a little misleading though as the name Kevin Macadam appears in Q4C privacy policy, not the company name or link as is suggested by Ian Griffiths Halifax. If there are concerns regarding regulations with this site which appears to be separate to Q4C, and it appears you know about this sort of thing more that I do, I suggest you report it to the appropriate bodies.

I find it interesting though that Q4C had a large write up by The Times in April 08 regarding the financial service they are offering to charities, surely The Times do their homework....?!

Maybe have a more detailed look at the Q4C website, copies of articles in the News section are there and you can check for validity on the main Times website http://www.timesonline.co.uk/tol/money/property_and_mortgages/article3676155.ece

In the current financial climate, where donations to charity are dropping rapidly, maybe more financial service company’s could set themselves up as CIC’s ..? Just a suggestion!

Just out of interest, do you know if the Key Facts Illustration declares that an introducer fee is paid to your selves?

As for the Times doing their homework :rotfl: As has been proven many times, Investigative Journalists only look to fill their column inches and are looking for their next story/expose/kick back.

The name appears on their Privacy Policy as a Mortgage Broker. The Mortgage Broker is part of the Mortgage Company who gives the Mortgage Advice.

feisty1 · 12 October 2008 at 11:36AM

[quoteJust a suggestion![/quote]

I have another suggestion. You are authorised representatives of LIME, before any promoting can be done it has to be cleared by their Compliance Dept. Also you cannot state in one area advice is free and in another state "but we estimate it will be £750 payable on completion", misrepresentation???

At the moment the FSA are very hot on TCF, treating customers fairly, I don't think the above is treating customers fairly.

I'm sure you started off writing with good intentions, however i think damage limitation is now required. I would also be booking a call thru to compliance at 9 on moray to inform them of yr faux pas

Free financial advice that donates to charity - quotes4charity.co.uk

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