Is this normal for brokers?

ashleyk

Put it this way fiesty1, when I spoke to the owner of the company he was furious about what had happened and said that the broker would be reprimanded. He offered to help in any way he could and cover any costs that I might incur. I'd say he was actually very embarrassed and more than a bit worried. Not once did he say it was wrong for me to have called up and asked a question.

Just in case we are losing sight of the key point here, remember that I have never met this broker, received any paper work from him or signed a single document. In my view what he has done is highly questionable from a legal perspective. It is certainly unethical at the very least in my view.

At this point I shall probably have to wait a few more days to see what happens and hope for a positive outcome but none of this change and upheaval is in the least bit appreciated and should never have happened.

Gorgeous_George

Maybe brokers shouldn't hide behind the term 'fee-free'.

The fees paid by the lender will be recovered from the customer through higher rates/fees. Not directly but if the lender's costs increase it is only customers who can pay them.

A bit like uSwitch et al offering a 'free service' to utility customers. This free service is paid for by higher prices for everybody. maybe a little harsh on uSwitch in this instance - at least with them, if they can't better your current deal, there's no fee as you won't switch.

I'm happy to pay for advice and the OP should have been quoted for advice on the deal with Halifax.

GG

feisty1

I have already said I feel the adviser behaved appallingly and have repeated this on several occasions.

Quote: Not once did he say it was wrong for me to have called up and asked a question.
Of course he won't say that now, for him to say that now would be suicide, it is damage limitation from here on.

I have no argument with yr issue's with the adviser and I never had, so it is pointless you telling me again what he did as I agree with you.

What I don't agree with is people going direct (cutting an adviser out of the loop for whatever reason) BUT still picking up the fone and expecting "advice"...........

I believe in karma, what go's around comes around and here is a perfect example. If you go direct, you go direct, if you take advice you take advice.

feisty1

Gorgeous_George wrote: »

Maybe brokers shouldn't hide behind the term 'fee-free'. The fees paid by the lender will be recovered from the customer through higher rates/fees. Not directly but if the lender's costs increase it is only customers who can pay them. A bit like uSwitch et al offering a 'free service' to utility customers. This free service is paid for by higher prices for everybody. maybe a little harsh on uSwitch in this instance - at least with them, if they can't better your current deal, there's no fee as you won't switch. I'm happy to pay for advice and the OP should have been quoted for advice on the deal with Halifax. GG

Do you know I was going to reply to this but it is so ridiculous I have changed my mind..............anyhow yr wrong end of story.

ashleyk

hmm, I wonder what sort of karma is in store for that broker...

feisty1

no such thing as a free lunch, it comes back to bite you when yr least expecting it..........u dont move from that broker, u seem to overlook i never ever said what he did was right.....but u seem to justify u did no wrong, if u had just played by "the rules" you would never had any delay with yr mortgage, so u haven't got off scot free

ashleyk

feisty1 I am a professional photographer and people ask me advice about cameras, photography, photo retouching, printing, selling images and all sorts non stop and I was never aware of any "rules" which say they can't do that.

By your reckoning they should all receive some kind of punishment just because they asked for a piece of information. I personally feel that helping people when possible, even when you have no direct financial gain is a good thing. It might even help your karma.

davidla

Are you going to take your complaint about the broker any further, Ashley, or will you just leave it with the boss?
I don't really see what Ashley did wrong. He tried to get for free advice. The other guy could have refused.
I work as a Corporate Travel Agent - if a client called up and asked for visa advice for a private trip I would give it as it is good for our relationship. If the client called up everyday asking for free advice that would be different.
David

feisty1

u can hardly compare a travel agent or photographer to a financial/mortgage adviser.......We are heavily regulated when it comes to advice, hence the reason NO ADVICE is given on here and why Martin Lewis is not a financial adviser, if so he couldn't go an TV and tell u all to fix yr mortgages or put yr money in IceSave.

ashleyk

You are making some pretty strong assumptions there about other professions not being regulated, especially in this day and age. What about the regulations travel agents have to follow? Photographic associations also require very strict codes of conduct. We are also self regulated to an extent by our desire to keep working and there is a whole minefield of laws to consider nowadays when taking photographs professionally.