Help Just read the small print

dunstonh

Crickey, thats a fee and a half. I am an investment specialist (so higher qualified and dealing in higher end stuff that this individual) and I dont charge as much as that.

Im sure 2 minutes spent (free) on a mortgage comparison site (moneysupermarket.com etc) would give you just as good if not better options!

The deals are starting to swing back in favour of brokers again. However, IMO the best thing about a mortgage adviser is not the deals which are largely the same anyway but the service they can offer. Especially for first time buyers or those that dont understand the process. The hand holding a local adviser can give you and the benefits an experienced adviser can offer by having contacts and knowing which lenders are doing what and when can be where the real benefits are.

I think the mortgage adviser is basically ripping you off. If they are a network member I am surprised that they let them get away with it. Although she may not have been caught yet.

It is on an advised basis she talked about how accountable she is and if she gave wrong advice then could lose her job.

Every adviser is equally accountable. However, there are different business models. Salesforces and larger employers tend to be more expensive. Perhaps she charges more because her employer takes 70% of what she earns (a local firm to me takes 70% of all adviser earnings). Seeing a self employed/partner/director adviser is often a good idea as they get to keep all the remuneration so not only are they likely to charge less but they usually discount as well on larger cases (thats more on pensions/investments side though).

Ian_Griffiths_Halifax

tiredredhead wrote: »

It is on an advised basis she talked about how accountable she is and if she gave wrong advice then could lose her job.

I am with RBS 6.29 was with C&G

Read the KFI. That will tell you for sure. What you are told verbally and what is put in writing are two different things.

Ian_Griffiths_Halifax

dunstonh wrote: »

Crickey, thats a fee and a half. I am an investment specialist (so higher qualified and dealing in higher end stuff that this individual) and I dont charge as much as that.

Sorry dunstonh, but while I agree with the rest of your post, being an investment specialist doesn't mean you are higher qualified than a Mortgage Specialist/Adviser! If you are talking about having FPC, then that's a different qualification and you need to have the CeMAP Bridge to be able to give Mortgage Advice.

Investment Specialist are Specialists in Investments!

Toughluck

If you can get a mortgage with a high street lender there is generally no need to be paying that sort of fee. Annoy them and say you'll go to C&G direct!

dunstonh

Ian_Griffiths_Halifax wrote: »

Sorry dunstonh, but while I agree with the rest of your post, being an investment specialist doesn't mean you are higher qualified than a Mortgage Specialist/Adviser! If you are talking about having FPC, then that's a different qualification and you need to have the CeMAP Bridge to be able to give Mortgage Advice.

Investment Specialist are Specialists in Investments!

A mortgage adviser will have cemap or the more advanced version. You can add another 9 qualifications to that for diploma. I had no intention of suggesting that a mortgage adviser is low skilled (so dont read it that way). I was just highlighting that this individual is charging more for a standard transaction than many specialists (in their chosen area) charge for a higher level transaction. You would be able to walk all over me if I was to try a mortgage transaction. So,my qualifications dont matter in that sense. It was just a way of showing how out of sync that charge is.

What makes her so special that she charges £3995 (or more) when many of you on this thread charge nothing or just a few hundred?

Locoblade

dunstonh wrote: »

The deals are starting to swing back in favour of brokers again. However, IMO the best thing about a mortgage adviser is not the deals which are largely the same anyway but the service they can offer. Especially for first time buyers or those that dont understand the process. The hand holding a local adviser can give you and the benefits an experienced adviser can offer by having contacts and knowing which lenders are doing what and when can be where the real benefits are.

Yep sorry, wasn't trying to play down the role of a good broker asking resonable renumeration, I was just pointing out the extreme other end of the scale of this particular one where you could get the same/better (although possibly not the absolute best) deal without spending a penny.