Interest free mortgages

tomstickland

You obviously didn't read all of it, because paragraph 3 (the serious bit) actually agrees with you.

AndrewSmith

If I may interject at this point.

How is all this pointless bickering helping the original poster?

It is evident that, once again, a personal grudge match has ruined a thread from a genuine poster asking for help.

Those responsible should hang your damn heads in shame as this will do nothing but drive the genuine posters away from the site.

If you are so concerned about the wellbeing of the posters on this site then may I suggest that you keep the replies to the topic of the thread and, unless you have something of value to the original poster to add, keep the personal mud slinging to a separate thread.

This is directed at no one individual however I am sure that anyone reading this will easily see where the blame lies.

For god's sake grow up !!!!!!!

kenshaz

kenshaz wrote:

Get mortgage advice for free. As mortgage advice is only paid for when you complete the mortgage,a broker simply telling you it's pick doesn't incur a fee.As best practice always get more than one opinion,speak to three or four brokers then complete via L&C .this way best advice and no fee.
London & COUNTRY 0800 9530304

www.charcolonline.co.uk tel 0800718191

Chase de Vere mortgages 0800 3585533

FPD SAVILLS 0870 3585533( personally I do not use 0870 numbers ,because the rate is unknown)

THIS WAS MY RESPONSE,,good solid advice ,shop around,what was the problem ,or perhaps their is bias amongst some brokers,read the thread ,and it is evident

AndrewSmith

kenshaz wrote:

THIS WAS MY RESPONSE,,good solid advice ,shop around,what was the problem ,or perhaps their is bias amongst some brokers,read the thread ,and it is evident

There would only be bias if there were brokers openly suggesting the use of their own services.

There is nothing biased about a suggestion of seeking out a local fees free whole market brokerage firm. In fact this is an excellent moneysaving tip as you are supporting local small business and your local economy, instead of giving business to large national corperate firms who tend to 'wax fat' off the back of their workforce whom they turnover quite regularly.

tomstickland

Being serious, all that happened was that some brokers suggested that shopping round was wasting their time. Which it is. However, there is nothing to stop you doing this. In my case, all 3 brokers actually found products that were near identical, hence showing that finding one good broker is all you need to do. As I said, one was a salesman anyway, so I had no problem with using him, the first was nice chap but not all of market.

kenshaz

The consumer comes first and the ethics are shop around then use the most advantageous ,that is what the above quote states,what is wrong with L&C and Charcol ,is it because they are competition and do not post on this site,on the mortgage forum,brilliant firms with high reputations ,can that be said of all

AndrewSmith

kenshaz wrote:

The consumer comes first and the ethics are shop around then use the most advantageous ,that is what the above quote states,what is wrong with L&C and Charcol ,is it because they are competition and do not post on this site,on the mortgage forum,brilliant firms with high reputations ,can that be said of all

Large firms such as the likes of the ones you mention are not competition at all to a small local brokerage.

L&C for example will not accept clients for Agreement In Principles and will only deal with you once you have found a property and have offered or you are re-mortgaging. They have also received a fair amount of negative feedback for their customer service on these forums. I also know for a fact that they have a high staff turnover.

They operate a completely different business model, phone based, non AIP etc, thus are no competition at all to a smaller local brokerage where the individual or parnter in the firm has considerable knowledge and experience and offer a far more 'personalised' face to face traditional service.

There is a place in the market for both business models, neither are right for everyone hence the suggestion to seek a local brokerage also.

I personally do not consider any of the above mentioned firms to be any competition whatsoever to my firm, as I have an unblemished extensive Financial services track record and an excellent local reputation for my work.

homer_j_3

can we move this over to the thread I created?

Arch-Angel

kenshaz wrote:

The consumer comes first and the ethics are shop around then use the most advantageous ,that is what the above quote states,what is wrong with L&C and Charcol ,is it because they are competition and do not post on this site,on the mortgage forum,brilliant firms with high reputations ,can that be said of all

I don't think it's a question of anything being wrong with L&C and the like. I see your point that it's good money saving to get the broker to act for free. Also I acknowledge that Martin's book - which I've got - does suggest trying 3-4 different brokers before placing your "best" mortgage with L&C (or indeed any fees-free broker).

However, Martin's philosophy is one of "get one back over the big compaines" - do small brokers fit into that category? Indeed, many small brokers are fees-free, therefore there is little financially to gain by using Martin's idea by involving such brokers.

I think the moral issue has to be the deciding factor - if you're happy for a small broker to do 10 hours work only for you to take his/her advice and take the information to L&C...well, how you would like it if it was done to you?


PS - there has been a separate thread to discuss the issue of using multiple mortgage brokers. Might I suggest that any other posts on this aspect be placed there so that the OP can get the best possible advice?

http://forums.moneysavingexpert.com/showthread.html?p=3007770&posted=1#post3007770

Alexmc12

Well this HAS been an eye opener! Thoroughly enjoyable debate folks. And don't worry about gullible Joe Public being given any dodgy advice.
The point of my original posting was get a feel for whether my plans were workable, which they evidently are. I can now make a decision whether I should proceed, which does not necessarily involve any of your suggestions, though i thank you all for taking the time to give me your advice.
Whilst some of you guys obviously have a history, I have not been put off by your postings. It's healthy to debate stuff, and for the rest of us to be able to hear it so that we can form our own opinions. Don't be put off, it's good to be passionate about stuff (even if it is mortgage brokering!).

Thanks once again, Alex