Would you use a Financial Adviser???

confused31_2

Right we all know some people say use a Financial/mortgage Adviser, and some people say they do it themselves and that financial advisers are a waste of time.

Now i personally like looking for myself, has i have had bad experiances with financial advisors in the past recommending mortgages that were more beneficial to them than me, and also offering insurances that were nearly 3 times higher than ones i found myself.

im going to give three options, and im not going to respond to any stupid comments just make your vote if you want add a comment, but im not going to get into a big argument with a load of people with I AM A MORTGAGE ADVISER on the bottom of their profiles.

Would you use a financial adviser to get you a mortgage??

a. never use one

b. always use one

c. use one only on complicated mortgages

koexelek

confused31 wrote: »

Now i personally like looking for myself, has i have had bad experiances with financial advisors in the past recommending mortgages that were more beneficial to them than me, and also offering insurances that were nearly 3 times higher than ones i found myself.

If this is the case I fully understand the way you feel.

But the other side of the coin, is that if a broker helps someone to get their first mortgage, or manages to place a complicated mortgage, that client will be very happy, will keep cooming back to you, and will refer all their friends and family.

The way I see it, there are two ways of making a living mortgage broking..

1) stitch the client up like a kipper, and make sure they can't track you down when they realise what you have done
2) treat them the way you would want to be treated yourself, and hope for a long term relationship

confused31_2

i think thats why i feel like i do from my first experiance, thats why i would recommend anyone who needs to use one to try a few.

Lynn11

I got a recommendation from work about 8yrs ago and we still use him to this same date. He is due to visit us next month and go over our options. Also I will be doing some homework myself at our mortgage lender and a few banks we bank with wish to provide us with information. I have heard that some advisors are not advised of all deals from the banks etc so if you can look into both of these this would be better. Hope you find a good deal for you now.

koexelek

confused31 wrote: »

i think thats why i feel like i do from my first experiance, thats why i would recommend anyone who needs to use one to try a few.

I'd agree.

If I was a member of the public, I would only use a broker who had been personally recommended to me by someone I trusted... or failing that, I would get comparison quotes from a selection of brokers.

I take the same philosophy with tradesmen/ garages etc. If you don't know what you are doing, there is always someone out there who will try and rip you off.

koexelek

Lynn11 wrote: »

I got a recommendation from work about 8yrs ago and we still use him to this same date. He is due to visit us next month and go over our options. Also I will be doing some homework myself at our mortgage lender and a few banks we bank with wish to provide us with information. I have heard that some advisors are not advised of all deals from the banks etc so if you can look into both of these this would be better. Hope you find a good deal for you now.

As far as I am concerned, the more research the client has done before I see them , the better.
It may be the best deal is something I can't access ( which stops us both wastng any more time), or it may be that the client has narrowed it down to exactly what they want in advance ( a five year fixed rate for example), making my research a lot more straightforward.

hearts

If it's free why not? You get advice you can use ( better mortgage) he's made you money. He doesn't better what you can get your self, then nothing lost.

He gets paid from the other end.

dunstonh

Would you use a financial adviser to get you a mortgage??

No. I would use a mortgage adviser.

Given the comments in your other thread, you dont appear to realise there is a difference.

confused31_2

dunstonh wrote: »

No. I would use a mortgage adviser.



Given the comments in your other thread, you dont appear to realise there is a difference.

i think they are very similar, just a different title, has for the other thread this is a poll to see what people think, its got nothing to do with the other thread.

Youve already said your piece in that thread and people have put you right, but this is a different thread so could you please treat it like that.;)

dwsjarcmcd

I would never use one

If this is going to be done properly, another option should be
'Are you willing to pay for mortgage advice'

dwsjarcmcd

I would never use one

Just to be clear, I said I wouldn't use an Mortgage Adviser because I don't need to. I would, however, pay to use an IFA because they operate in an area I don't fully understand.

David