A good mortgage advisor in the Bangor area please?

Andrew_G

Hi

Can anyone recommend a good mortgage advisor in the Bangor area please?
Preferably someone with a sympathetic ear for a first time buyer
Cheers

Thriftylady

(Thriftylady takes deep breath and prepares to be abused by irate financial advisors)

are you sure you need a mortgage advisor? Everyone I have ever talked to about this who has used one has regretted it, as they felt that they got the hard sell and often for a product which was not suitable.

People are initimidated by mortgages but they are really quite straightforward. If you take the time to read up on them (e.g. this website for starters, then some of the price comparison sites, financial pages in the Sunday papers, even word of mouth and the brochures from the banks and building societys) you might be surprised by how simple it actually is.

I'm not dismissing financial advisors, most people wouldn't have a clue with complex products like investments and pensions and its definitely wise to seek advice from the experts, but mortgages...I'm not so sure. Even at the height of all the publicity about endowment mortgages, financial advisors all over the country were still convincing people that interest only was the way to go. I know some perfectly intelligent people who fell for the sales pitch as recently as a couple of years ago......If you're not paying the advisor for their advice then they are going to be getting commission from somewhere else and its hard to be sure if the product they are recommending is for your benefit or theirs.

I'm not accusing all financial advisors of being crooked, like any industry there are good and bad, but in most cases a mortgage advisor will only be offering you the same product that you could apply for directly yourself.

Now that I've said my piece (sorry, have a bit of a bee in my bonnet as have seen too many good friends get conned) the only real piece of advice is that there is no such thing as a best deal - only what is most suitable for you.

Andrew_G

None?
Really?

Greentea

Ive used John Todd in the mortgage shop in Bloomfield shopping centre.

ooo000ooo

After losing one house because of the poor recommendation by one mortgage advisor, we went to another recommended by a mate. He was the most useless uncooperative waste of space i've ever met and after several months of stress due to him and threatening to physically harm him he eventually went online, requested a form from the nationwide, and a week or 2 later we had a mortgage. We could have done this ourselves.

cruesfan

I've also used John Todd in the One Stop Mortgage Shop in Bloomfields. Of course you can look online for good deals yourself, but I felt John knew a lot about good mortgage deals and what exactly was best for us.

honey28

My folks used John Todd in Bloomfields too. They were happy enough as well.

IvanOpinion

Do your homework first by looking at various mortgage comparison sites on the web. Have an idea of the sort of product you are interested in (there are some very good long term rates at the minute). If you see an advisor make it clear that you are currently only looking at options and want to be able to think things over.

Don;t rule out The Mortgage Shop at the top of Main Street .. they got me a great deal a few years back (one that I had somehow missed). I might even suggest that you make appointments with a couple of different advisors ... they are (or at least used to be) free.

Ivan

Andrew_G

Thanks for these.
I have an appointment in the next week with John Todd and I'll let you know how it goes.

Ivan, I'll take you advice and drop in and see The Mortgage Shop as well.

Do you have the links to any Mortgage comparison sites please?

Careful_girl

Try Martin's links on the main site. In my opinion an advisor can cut out a lot of hassle for you. Look at some of the other threads on this on the forum. There are some interesting views. I don't think you really need to be living that close to a good mortgage advisor to use them effectively. Unless you want them to pop over for tea. There are some excellent advisors on the forum.
All the best,
CG:j

IvanOpinion

Some links for
Bradford and Bingley
Money Extra
Money Supermarket

An IFA should determine the best mortgage for you and your situation but a couple of things to look out for ... keep an eye on redemption fees and don't be lulled by ultra low interest rates that may be offset by large booking fees or tie-in periods. Also, if you haven't already done so, visit the mortgages board on this site and see what deals others are talking about. Finally, don't over extend yourself ... allow a bit of a cushion just in case rates go up (alternatively find a good fixed rate to get you over the first few years.

Ivan