Just had some "independant" mortgage advice

Rob_Jones_2

Some independant mortgage advisor just sent me an email advising me about mortgages and one i am about to apply for with nationwide he said

"Unless you have a very good credit score, I wouldn't suggest Nationwide, as they require a 'squeaky clean' credit hstory. Therefore, you are right, it would leave an unnecessary footprint on your file.

There are lots of other things to consider as well, I recommend you give me a call and I can talk you through them. I promise I am not trying to sell you anything, I am just better explaining things verbally rather than written! As I have said, all my advice is free, so use it!"

I get the feeling he is advising me not to use them so i ring him and use him for a mortgage does this sound right or are nationwide not very forthcoming with mortgages.

Thanks

Ian_Griffiths_Halifax

Nationwide are one of the most incompetent lenders I can think of. It's just unfortunate that their rates are often good.

I personally would recommend somebody looks at another lender at the sacrifice of a fraction difference in interest rate.

Yes he'll want you to use him, but if, as he says, his advice is free, then why not?

_Andy_

Impossible to say out of context - i.e. you haven't stated what your credit history is like, or what the discussion was previous to his email

HelpWhereIcan

I have a track record of (sometimes) getting things wrong so don't want to make a *!*? of myself but ...

From your short posting history (which does not indicate that you have approached anyone yourself) and the way you have phrased things

Rob_Jones wrote: »

Some independant mortgage advisor just sent me an email advising me about mortgages and one i am about to apply for with nationwide he said

... it would seem that you are referring to a poster on this forum who has contacted you to encourage you to contact them for an in depth discussion

Rob_Jones wrote: »

There are lots of other things to consider as well, I recommend you give me a call and I can talk you through them.

while promising

Rob_Jones wrote: »

I am not trying to sell you anything, I am just better explaining things verbally rather than written! As I have said, all my advice is free, so use it!"

My experience of double glazing canvassers has always been that - for people who are not to sell me anything - they are trying bloody hard to sell me something

Rob_Jones wrote: »

I get the feeling he is advising me not to use them so i ring him and use him for a mortgage does this sound right or are nationwide not very forthcoming with mortgages.

I get the feeling that you may be right and the poster (if they are from this forum) has broken one of the fundamental 'house rules'

http://forums.moneysavingexpert.com/showthread.html?t=325378

Mortgage Advisers should not tout for business on the boards or in PMs. There should be no posts or unsolicited PMs offering mortgage adviser services. Nor should advisers ever say ‘see my profile for who I work for’ or make any other such comment.

However if a user requests their service either via PM or forum post then I have no objection to that and the business generated. Yet if someone requests the service by a post on the board, the broker should simply post to say “I will PM you” rather than posting details there.

Any mortgage adviser found to be flouting this ‘no touting’ rule will potentially lose their rights to post

That's without going into whether they use the Mortgage Broker signature when they post.

I genuinely hope I am wrong but if I am not and someone has touted for business - steer well clear and report them to the mods and (hopefully) get them PPRd.

Find an adviser local to you who can deal face to face. As a starting point use Martin's guide on how to find one and what to look for.

Whatever you do recomedations froms family/friends are much more reliable than someone you make contact with on a forum.

Here's hoping that all the wine I have had has turned me into an irrational know it all who has completely misread things.

tomstickland

Ian_Griffiths_Halifax wrote: »

Nationwide are one of the most incompetent lenders I can think of. It's just unfortunate that their rates are often good.

I personally would recommend somebody looks at another lender at the sacrifice of a fraction difference in interest rate.

Yes he'll want you to use him, but if, as he says, his advice is free, then why not?

Hey Ian, is that you in the avatar?

Ian_Griffiths_Halifax

tomstickland wrote: »

Hey Ian, is that you in the avatar?

Indeed it is.

Rob_Jones_2

Thanks for the replys the person contacted me asking if i needed help so thinking they were genuine i told them the situation.

hi me and my partner are in the process of applying for a mortgage with Nationwide for £134000 we have a deposit of £24000 so the house value is £158000, I am in a permanent job and earn £23.5k per year and my girlfriend is on maternity leave and will be going back part time in September earning around £13.5k teaching at the primary school she has worked at for over two years. The reason we are worried is that i have a defaulted debt on my credit file that has been paid and is now satisfied, it was for around £1000, i had no idea i had the debt until i checked my credit file and paid it immediately it had been defaulted since 2004 (when i was at university) and paid in Aug 2008, it was left so long as the letters were being sent to my university address, other than that i have never missed a payment on any of my direct debits, My girlfriend has a clean credit record, and our outgoings are low as we are living with my partners family.

The main reason we are worried is because i applied for a job with Nationwide in sept 2008 and failed there credit check, I’m assuming it was because of the satisfied default debt (that was paid two weeks prior to the credit check, i only did the credit search because they said they were going to do a check and advised me to do one before they searched)
we have had a mortgage promise from Halifax last week that we passed their credit check with but there rate is 1% higher so were wanting to try with nationwide but i don’t want to leave a nasty footprint on my file incase we fail the credit check.
Thanks for offering the help

With the guys reply he left me a 0800 number to ring

minimike2

To be honest I doubt Nationwide would take you with a £1k default, satisfied or not. The email you recevied was correct, they do only want perfect credit history at the moment. Even some with unblemished records are being declined by them.

If you cant get a job with them, I doubt they would be happy to lend you £134k......

You do need to see a broker as you could end up wasting a lot of time doing this yourself, along with getting needless recorded footprints, but find someone who you can get a personal recommendation for, not someone who has approached you - and if it was through this site then report them as it breaks the code of conduct.

Conrad

Nationwide not likely to do it.
As for 'I'm not trying to sell you anything@, well

Nomad25

No such thing as a free lunch...............

Rob_Jones_2

Cheers for all the replys people, i did a quick google and found an independant advisor in my town and gave them a ring, after explaining the situation and faxing them the mortgage promise from halifax they suggested applying for the nationwide mortgage and if we fail there check falling back on the halifax mortgage promise, i explained what people said on here and he said its not as strict as its made out to be and he just asked if we had any credit card debts and if were on the electoral roll and how long we have lived at our current address oh and how long we have had our current bank accounts.

Anymore input would be great.

Thanks again everyone