mortgage advisors(how do you tell good from bad)

jermyn

Just had a visit from an independent mortgage advisor from a brokerage company. it seems like good advice he is offering but is it really and how do you tell.:think: This is my first time on a forum site and don't really know the etiquette. Can i name the company and ask for any feed back? Oh well I'm doing it anyway so please tell me if it is out of order. Oh yes the company is lwf mortgages, the lwf stands for loan world finance. Any feed back you can give would be greatly appreciated.

Quasar

Hi jermyn and welcome to mse.

You would be better advised if you posted the above on the mortgages board as there are experienced people in there, many of whom don't visit this general discussion board.
Here is the link: http://forums.moneysavingexpert.com/forumdisplay.html?f=15

Good luck

reduceditem

Loan World Finance?.......my 'con-dar' is twitching.

Poppy9

If you want to compare what they are offering you then you can walk into any bank/building society and ask to speak to one of their mortgage advisors.

Many advisors are tied to a company so are limited in what products they can offer you. A "whole of market" advisor should choose from the best available but that's no guarantee that they won't only show you the ones that pay them the best commission.

If you post your requirements and what you've been offered on the "mortgages" board then some will be along to [STRIKE]pull your offer to bits [/STRIKE]offer you advice.:D

PS : welcome to MSE

Mips

I would agree with Poppy - if you want to compare, why not go into a branch, or get another Mortgage advisor out?

The bottom has fallen out of mortgages now anyways, and they probably only make a few quid in arranging your mortgage so am surprised anyone bothered to turn up to meet you at all :D

Markyt

Buy a weekend paper and check the best buys in the finance section, and look at sites like Moneyfacts. That way you'll know if what you are being told is reasonable and roughly comparable to other products and offerings out there.

Markyt

Dippychick wrote: »

The bottom has fallen out of mortgages now anyways, and they probably only make a few quid in arranging your mortgage so am surprised anyone bothered to turn up to meet you at all :D

Theses days they'd turn up naked at the north pole at midnight if they thought there was a serious chance of a sale. Leads are rare and people signing up even rarer.

Markyt

A quick google tells me they specialise in cases with poor credit history. You'll pay through the nose for a mortgage, but if you need to do it look at other brokers and get comparisons.

jermyn

reduceditem wrote: »

Loan World Finance?.......my 'con-dar' is twitching.

:beer: I know what you mean if it sounds tgtbt then it will be.

jermyn

Markyt wrote: »

A quick google tells me they specialise in cases with poor credit history. You'll pay through the nose for a mortgage, but if you need to do it look at other brokers and get comparisons.

well there's no worry on that score. they want to charge 2.95% of loan and that £1500 smackers i don't want to part with.

absolutebounder

If they are charging a fee they are ripping you off. if you are remortgaging it is likely to be bad advice at present.