Ifa

ddebski_us

I went to see a IFA at the weekend who stated he didn't charge a fee but could only offer mortgages from part of the market - he said there was no such thing as a "whole-market" as some lenders chose not to deal with an intermediary.

However, browsing some threads on here, it does seem like there is a "all-market" IFA. Has he lied to me?

He's also planning on getting us an AIP (which I have agreed to) but claims he hasn't decided what product we should apply for yet - he'll let us know when he's done it and who he went with.

I was under the impression that getting an AIP was a two way thing...?

We haven't found a property yet; we were after an AIP to give us sime bargaining power, but I feel uncomfortable stilll....

dunstonh

However, browsing some threads on here, it does seem like there is a "all-market" IFA. Has he lied to me?

The term "IFA" does not exist for mortgage advice. The small number of IFAs that still do mortgage advice do it with their mortgage advice hat on. Not their IFA hat on. That can confuse the issue over independence.

There are true whole of market advisers who will have the independent tag for advice who will consider lenders that dont deal direct with advisers. Indeed, recently I read the mortgage search engines for advisers recently allowed them to be included in their research.

_Andy_

He shouldn't be getting an AIP without running the lender/product past you first.