ADW Home Finance

JJ70_2

Just had a call from them, offering to set up a meeting to look at the mortgage market, see if they can save us money etc etc.
They are not whole of market - they tried to claim "independent" but they do go from a panel.
As for fees, the initial consultation is free, there is a fee to pay if we decide to take up one of their deals, but they say the fees are all in the paperwork.
The guy I spoke to wasn't sure if they got commission from the lenders and not sure if we would have to apy lender's arrangement fees (eg for fixed rates) on top. I suspect we would.

Anyone got any thoughts on this? We currently have a discounted tracker with no tie in, so in a way time is on our side, we are in no hurry.

HelpWhereIcan

JJ70 wrote:

Just had a call from them, offering to set up a meeting to look at the mortgage market, see if they can save us money etc etc.
They are not whole of market - they tried to claim "independent" but they do go from a panel.
As for fees, the initial consultation is free, there is a fee to pay if we decide to take up one of their deals, but they say the fees are all in the paperwork.
The guy I spoke to wasn't sure if they got commission from the lenders and not sure if we would have to apy lender's arrangement fees (eg for fixed rates) on top. I suspect we would.

Anyone got any thoughts on this? We currently have a discounted tracker with no tie in, so in a way time is on our side, we are in no hurry.

Steer well clear - I refer the honourable gentleman to the reply I gave earlier in the following thread

http://forums.moneysavingexpert.com/showthread.html?t=236247

Plus - he lies when he says he does not know if they receive commission - they do (at least they know if they receive commission or not). He has been so evaisive about fees and costs. You just know that their advice will be an expensive rip off if he doesn't think he can justify it to you when asked a simple question.

They have a panel - ok if you just need a deal from one of their lenders but a useless rip off if you would have been better elsewhere.

Hope this helps

AndrewSmith

Why should you have to pay an undisclosed amount of fee for advice from a company who cannot give you whole market access?

Also, do you really want to trust an individual with your financial details when he cannot even be sure whether he receives commission or not?

Did they just call you out of the blue? If so they are breaking the law as it is now illegal to telephone canvass or cold call for financial services business without the customer's prior consent.

Don't agree to an appointment as they are sure to try and 'persuade' you to sign for the deal on the night.

Sound like an outfit not to be trusted to me.

Andy

JJ70_2

Wow - thank you both for the speedy replies. They did indeed mention a "lifestyle survey" that my husband was supposed to have completed (and sometimes he will if bored at work) and having looked on this site I think we will contact London & County instead.
I'm looking forward to telling them my husband says he never completes surveys by phone or otherwise, and that I will report them to FSA if they call one more time!
thank you both for your quick and very useful replies.