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Free independent financial/mortgage advice
Tamalama
Posts: 13 Forumite
Dear all
Do you know if this exists? I really need to sit down with somebody and thrash out what I can and can't do with my money, i.e. buy to let, normal mortgages/tax etc as I feel like I am really lacking in knowledge in this area.
Does anybody here have a financial advisor and if so, are they expensive? What sort of things do they do for you?
Thanks in advance.
Tam
Do you know if this exists? I really need to sit down with somebody and thrash out what I can and can't do with my money, i.e. buy to let, normal mortgages/tax etc as I feel like I am really lacking in knowledge in this area.
Does anybody here have a financial advisor and if so, are they expensive? What sort of things do they do for you?
Thanks in advance.
Tam
0
Comments
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Most will offer the advice for free, on the basis that the companies you invest with pay the IFA a % commission.Nice to save.0
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elDeeJay wrote:Most will offer the advice for free, on the basis that the companies you invest with pay the IFA a % commission.
Though there is a growing trend for IFAs/Mortgage Brokers to charge for their advice because of the amount of people who take advantage of them to get free advice and then go off and get the mortgage with someone else or on the internet. Quite a few now work on the basis of charging you if you don't go on to get the mortgage through them. Make sure you know how they charge and that you have it all in writing.0 -
Personally I never have a problem of clients not going through me once I have given advice so have never seen the need to charge a fee.
Any broker / adviser is legally required to issue you with an Initial Disclosure Document clearly outlining their fee/commission structure before any advice or business is transacted.
Ask them for it. If they don't give you a copy of one, go elsewhere.
Andy0 -
78% of brokers now charge a fee.
A lot do give free advice. Why anyone would want to bite the hand that gave them free advice is not clear.
Anyway if you are a budding property tycoon then get chummy with a good adviser and I am sure they will not charge you if you always return to them.0
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