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!!!!!!!

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I have just had a mortgage advisor advise me to take out a loan to increase my despot from 20% to 25%. When I told him that I thought this was not allowed he replied ‘you could always be taking out the loan to buy a car’...
I am gobsmacked! And yes the advisor was recommended by a major developer, needless to say I will not be speaking to them again

Comments

  • I'm sure that goes against anything that is said about responsible lending.
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    Please take the time to report him to the FSA, idiots like that give the trade a bad name.
  • Mrs_Bumble
    Mrs_Bumble Posts: 1,028 Forumite
    Honestly and people wonder why we have a bad reputation!

    2 steps forward and one back and we all get tarred with the same brush, it is frustrating!
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • the advisor was recommended by a major developer

    Suprise, suprise!
  • Mrs_Bumble
    Mrs_Bumble Posts: 1,028 Forumite
    Suprise, suprise!

    Anything to try and get them through!
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • It wasn't me, honest!
    On the issue of who is responsible for bad lending decisions, Chelsea says it is not the fault of a specific individual.
    As to the sudden departure of both its finance director and chief executive, the Society says that is merely coincidental: finance chief Andrew Parsons has found a job with an old colleague; chief executive Richard Hornbrook, 57, is leaving because he doesn't believe he will be around long enough to implement the recovery plan.
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