should I use Financial Advisor

dunstonh

I'd be interested to know how your compliance people feel about the advice you give for customers you send direct and how you research the deals with the likes of HSBC. (serious question not having a dig here!)

I know that wasnt aimed at me as I am not a mortgage adviser but will respond on position my compliance would take. They would love it as its perfect evidence that you are acting truely independently. As an IFA rather than a mortgage adviser, the same applies to us when we use the likes of NS&I and others.

How much people would be prepared to pay upfront for such "full market" market advice.

I cant answer that on mortgages but on IFA business, fees transactions are increasing. Once a client is educated to the pros and cons you tend to find the wealthy clients going fee and the not so wealthy ones going commission.

With mortgages, independent on fee basis can end up being cheaper than whole of market with no fee. There will also be times it will be more expensive. So, swings and roundabouts.

AverageJoe_4

Legalised Robbery.

dunstonh

AverageJoe wrote: »

Legalised Robbery.

Jealousy I guess.

Peelerfart

AverageJoe wrote: »

Legalised Robbery.

Ouch !! a bit harsh that one..............

AntiLochus

AverageJoe wrote: »

Legalised Robbery.

Bad experience?

Still, a bit harsh and unfair to tar every aspect of financial advice with the same brush......

Different strokes for different folks

AverageJoe_4

No bad experience. But, it's like saying that estate agents taxmen and parking enforcement roles are useful and respected. I see it as almost the same as that, money for old rope taken from ppl that dont see it coming.

Lokolo

AverageJoe wrote: »

No bad experience. But, it's like saying that estate agents taxmen and parking enforcement roles are useful and respected. I see it as almost the same as that, money for old rope taken from ppl that dont see it coming.

Why?

I see it as expertise in an area.

Plumbing = Plumber
Car = Mechanic
Investments = IFA

lilychip

Thanks guys, especially AntiLocus I think I'll take the advice and have a go at doing it all myself. My Financial Advisor (or back up office staff) promised to ring back today if any rates were improved, also promised to send confirmation in the post that no fee was being charged (standard key facts information, says otherwise). Yes you guessed it they failed to do either.

I also spoke to someone today at Abbey who are also doing a good rate, but found out that on top of the arrangement fee I also would have to pay for all legal costs. So it looks likes HSBC will be the best one, I'll have another check just before I commit myself.

Thank you all again, sorting out a remortgage is time consuming enough. But with all of your great advice on this forum it has made me feel much more confident. I have told myself 'I will, I can'. THANK YOU Have a great weekend
Lilychip

clairehi

unite79 wrote: »

pity any poor person that does need advice in the future, with a less than straight forward mortgage application - cause if everyone goes direct - there will be no broker's left to help them out.....

Dont worry, theres another one born every minute isnt there.

Robert_Sterling_3

If not more often ........................