ISA Savings Vs Offset Mortgage Savings

confused31_2

feisty1 wrote: »

Yes I am authorised to give advice...............

you may be authorised, but please make sure its right i have noticed you have gave the wrong advice in the past, and even personally you gave me the wrong information about a mortgage.

Please if you are going to give advice make sure its correct.

feisty1

confused31 wrote: »

you may be authorised, but please make sure its right i have noticed you have gave the wrong advice in the past, and even personally you gave me the wrong information about a mortgage. Please if you are going to give advice make sure its correct.

You can try an discredit me as much as you like but I still stand by what i originally said last week. The suggestion is absurd of you borrow one sum of money on an existing contract of 10/12 years and a new contract on a term of 25yrs!! but the same product to avoid paying a fee

Even of it was permitted it woud be the wrong advice, if you had to work to affordabiity you would put these two figures together and average it out and arrive at the figure you would be paying if on a split contract........not recommend paying interest for 25yrs.....a fool and his money comes to mind

Gambler

feisty1 wrote: »

This is what happens when people dont take advice

Really? How silly of me not to get advice. Now tell me who could have predicted the base rate dropping from 5.5% to 1.5% in such a short time.

confused31_2

feisty1 wrote: »

You can try an discredit me as much as you like but I still stand by what i originally said last week. The suggestion is absurd of you borrow one sum of money on an existing contract of 10/12 years and a new contract on a term of 25yrs!! but the same product to avoid paying a fee

Even of it was permitted it woud be the wrong advice, if you had to work to affordabiity you would put these two figures together and average it out and arrive at the figure you would be paying if on a split contract........not recommend paying interest for 25yrs.....a fool and his money comes to mind

3 years ago i took at out a fixed product with nationwide i paid one fee 389 pound and renewed my main mortgage fixed at 4.69 for 18 years, at the same time i had a 10,000 mortgage at the same deal fixed for 5 year at 4.69 and they both done with one fee.

The mortgages were then put together and they gave me a total but the 10,000 pound and my big mortgage are now sperate, the 10,000 pound one will be paid of in 2 years and the other is a lot longer.

If i havent got 2 seperate mortgages how come i have statements telling me that if i want to pay the 10,000 mogrtage off i would have to pay a extra 60 pound, and for the larger one the fee is 860 pound?????

You dont know what your talking about, i even phoned them up th clarify and they did, why dont you give them a ring so they can educate you in advising people.

can someone please tell feisty whst is right???

beecher

Gambler wrote: »

Really? How silly of me not to get advice. Now tell me who could have predicted the base rate dropping from 5.5% to 1.5% in such a short time.

This is what I find dangerous about the eternal 'trust what the mortgage advisor tells you' slant to some of these posts. They don't know what is going to happen in the future and ultimately it is the customer who has to make the decision. Why were mortgage advisers still putting people onto 125% NR Together mortgages when many people were pointing out that the market had to crash at some point?

MrMicawber_2

Personally I wouldn't get rid of all my ISA savings to pay off the mortgage unless I was deperate. Don't get me wrong, I'm very keen on getting my mortgage paid off early but I like the idea of balance - a bit of everything. Just as rates have shot down recently they may go up just as quickly though of course we haven't really got the foggiest idea. I just like like hedging my bets for the longer term rather than looking just at the current rates.

Just my view and doesn't work for everyone. If someone had 6 months savings and didn't need the rest then I'd go with paying the mortgage off with the remainder if they defintely didn't need the savings long term. Although (and this might sound a bit daft) we don't know today what we might need in the future.

feisty1

[quote=beecher;17778535] Why were mortgage advisers still putting people onto 125% NR Together mortgages when many people were pointing out that the market had to crash at some point?[/quote]

Stupid statement..............Mortgage advisers advise on the products made available to them by the providers......

NR togethers are a max of 95% secured & the remainder unsecured .........not 125% mortgage

beecher

feisty1 wrote: »

Stupid statement..............Mortgage advisers advise on the products made available to them by the providers......

NR togethers are a max of 95% secured & the remainder unsecured .........not 125% mortgage

I am well aware of that. Doesn't change the fact that many are in negative equity after following the advice of their mortgage advisers which is my point. Many of these people might have been advised on here not to buy - in hindsight maybe they should've listened to the non mortgage advisers on here. The spin that mortgage advisers are the only ones who can advise people on what choices they can make is a very dangerous one.

I don't expect a civil answer from you - no doubt it'll be in red font and involve a lot of shouting. I also don't expect you to actually take on board what I'm saying, which is surely what a good adviser does?

feisty1

[quote=beecher;17788733]I am well aware of that. Doesn't change the fact that many are in negative equity after following the advice of their mortgage advisers which is my point. Many of these people might have been advised on here not to buy - in hindsight maybe they should've listened to the non mortgage advisers on here. The spin that mortgage advisers are the only ones who can advise people on what choices they can make is a very dangerous one. I don't expect a civil answer from you - no doubt it'll be in red font and involve a lot of shouting. I also don't expect you to actually take on board what I'm saying, which is surely what a good adviser does?[/quote]

Beecher........Remember u cannot advise, nobody can advise on here, don't put yrself in an elevated position, just because you have absorbed what advisers have posted on here..........I guess the length of time you spend on here it can be compared to a distant learning course

Ed_Zep

feisty1 wrote: »

Beecher........Remember u cannot advise, nobody can advise on here, don't put yrself in an elevated position, just because you have absorbed what advisers have posted on here..........I guess the length of time you spend on here it can be compared to a distant learning course

So what qualifications have you got to advise?