nationalguarantee.com

emmaHarris_2

I am certainly not promoting this site as I do not know anything about it. But, does anyone else?

http://www.nationalguarantee.com/default.asp

We can see its cheaply put together thats all? What is it meant do and who are involved?

homer_j_3

I have heard of the company and do not know much about them other than they sit in the same boat as

TML
Norton
Black & White
Ocean
First Plus
Purple Loans
and the countless number of other companies that we see in the tabloids and on TV

They are just missing the mask and striped jumper

emmaHarris_2

They are just missing the mask and striped jumper"]They are just missing the mask and striped jumper

Just when I thought I would never laugh again...you made me:) Thank you!!

homer_j_3

National Guarantee may charge a fee for arranging your mortgage or remortgage. A fee of 1% of the loan may be payable on completion, subject to a minimum of £2,250. This fee includes the cost of the first valuation and the credit reference requests. An example of this is a mortgage of £250,000 would require a fee of £2,500. In addition we will receive commission from the lender. We will not charge any fees or receive any commission if your mortgage does not complete. You will receive a key facts illustration which will tell you about any fees relating to the mortgage arranged through us.

Looking at their case studies of how they could help, they mention their lender so this could be igroup but I think that they are definitely one to avoid by looking at the above.

homer_j_3

here you go - not igroup but gmac...

National Guarantee PLC is a wholly owned subsidiary of GMAC-RFC Holdings Limited. Registered Office is Eastern Gate, Brants Bridge, Bracknell, Berkshire RG12 9BZ. Registered in England and Wales: 3149568.

The Financial Services Authority (FSA)
The FSA is the independent watchdog that regulates financial services. It requires us to give you information about our services and fees. Use this information to decide if our services are right for you.
Whose mortgages do we offer?
We only offer mortgages from GMAC-RFC.
Which service will we provide you with?
We will advise and make a recommendation for you after we have assessed your needs.
What will you have to pay us for this service?
National Guarantee may charge a fee for arranging your mortgage or remortgage. A fee of 1% of the loan is payable on completion, subject to a minimum of £2,250. This fee includes the cost of the first valuation and the credit reference requests. An example of this is a mortgage of £250,000 would require a fee of £2,500. In addition we will receive commission from the lender. We will not charge any fees or receive any commission if your mortgage does not complete. You will receive a key facts illustration which will tell you about any fees relating to the mortgage arranged through us.
Refund of fees
If we charge you a fee, and your mortgage does not go ahead, you will receive a full refund. We only charge fees if your mortgage completes.
Who regulates us?
National Guarantee PLC, One Victoria Square, Birmingham B1 1BD is authorised and regulated by the Financial Services Authority. Our permitted business is advising on and arranging mortgages. You can check this on the FSA’s Register by visiting the FSA’s website. Follow this link to open the site in a new window https://www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.
What to do if you have a complaint
If you wish to make a complaint, please contact us:

In writing
Write to:
National Guarantee PLC,
Complaints Department,
One Victoria Square,
Birmingham,
B1 1BD

By phone
Telephone: 0121 615 5000

If you cannot settle your complaint with us, you may be entitled to refer it The Financial Ombudsman Service.
Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.
Mortgage advising and arranging is covered for 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is £48,000.
Further information about the compensation scheme arrangements is available from the FSCS.

emmaHarris_2

igroup...of course...we were sent this link yesterday by someone who had a problem with them...so you dont think too many brokers etc are affliated with them?

emmaHarris_2

My god Homer....what a find:)

Well done!

homer_j_3

its under the legal link at the bottom..

emmaHarris_2

Your right Homer. The person sending this link had a problem firstly with GMAC but ended up with igroup. So this site is not as ‘independent’ as it seems...what lengths will they go too to deceive potential borrowers? Never take for granted what you read LOL!

emmaHarris_2

its under the legal link at the bottom..

We missed that as well. Most consumers will too:(

homer_j_3

The above looks like their IDD so this would have been issued upon contact.

What will get joe public is not fully understanding the consequences of using a one lender adviser, which I think we both agree is not good for the consumer.

These companies are bad for the consumer and I fully support you questioning their methods and ethics. I would not be suprised if they employ morgage advisers who are effectively paid on volume targets rather than procuration fees.

In my eyes, they are effectively what TML are to KMC.

A fee free WOM adviser would be able to give the exact same product, if not better and at no cost to the customer. That has to be roughly a £100 a month cheaper for a 2 year deal. Even a fee based adviser with multi panel status would be a better option.