Using multiple brokers to obtain the best mortgage

EdInvestor

It seems to me it's understandable if people would like a second opinion , especially when it comes to proposals from investment advisors, which seem more likely to be suspect than those provided by mortgage advisors, and which can also have a much more serious effect on your wealth.

But the way to get another view is surely not to waste the time of other advisors, but to post the suggestions on websitses like MSE or the Fool, where there are a range of experienced people who can comment on the ideas suggested and spot any obvious, err, mistakes.

Doing it that way costs nobody nothing and is part of the learning process for other visitors to the site as well.

kenshaz

This site has been set up to promote the ethic's of Martin Lewis,when a member of this forum post's a quote from his book he should not be personally attacked by a broker. I cannot respond in the manner that they have adopted,because I deal in fact's not personalities,in another post one broker took my word's personally and reacted emotionally,if they identified with my quotes I cannot be held responsible for that.They also made statement's which they failed to carry out,so in my eye's they lost all credibility.They have demonised a book that by their own admission have never read.Remain open minded and post on other topic's,be receptive.

dunstonh

But the way to get another view is surely not to waste the time of other advisors, but to post the suggestions on websitses like MSE or the Fool, where there are a range of experienced people who can comment on the ideas suggested and spot any obvious, err, mistakes.

Given the misinformation and bias on these forums, even the best advisers wouldnt stand a chance. Fool is full of fools who think they know it all because they have made more money in the 3-4 growth years after the stockmarket crash than their adviser did before and during the crash. I stopped posting there a long time ago because it quickly became clear I was an adviser and it didnt matter what I posted, some automatically wanted to take the opposite position to an adviser, whether it was right or wrong.

Its fashionable to bash the advisers on forums like this and fool. People who know a little can be far more dangerous than those that know a lot.

EdInvestor

I don't think your comment is relevant DH.

If someone posted here asking for a view on some mortgage advice there must be nearly a dozen advisors who might comment, as well as any other MSE posters who might be able to help.

It doesn't seem to me that this particular forum is full of misinformation and bias. :huh:

Nor does it seem to me that there is always one "correct" answer to any specific financial query or that it will always be an advisor who provides it.

kenshaz

dunstonh wrote:

Given the misinformation and bias on these forums, even the best advisers wouldn't stand a chance. Fool is full of fools who think they know it all because they have made more money in the 3-4 growth years after the stockmarket crash than their adviser did before and during the crash. I stopped posting there a long time ago because it quickly became clear I was an adviser and it didnt matter what I posted, some automatically wanted to take the opposite position to an adviser, whether it was right or wrong.

Its fashionable to bash the advisers on forums like this and fool. People who know a little can be far more dangerous than those that know a lot.

I understand your perspective,and your field of expertise requires more skill due to being more speculative and differing levels of risk ,you are an excellent contributor to these forum's,but sometimes association can rub off,and you must recognize the clique mentality,remain impartial and you have my respect .
Regards Ken

kenshaz

HelpWhereIcan wrote:

Seriously guys and girls, I have read both threads and wonder how much you have all had to drink tonight!!!

Kenshaz is quoting the advice that Martin gives in his book as well as in
Sneakily get the best advice for free plus possible extra cashback. We have all debated this many, many times before, not least in one of the very first threads I contributed to; but Martin's advice still stands.

Martin has clarified his position in this sticky Martins View On Using Mortgage Brokers... , so none of has any reason to feel undermined by the advice he gives.

Kenshaz actually suggested using the services of the 'big boys' to do the shopping around, and I for one believe that they are big enough to cope with kenshaz's advice to MSE'ers.

IMO, Martin only actually advises people to not use the services of a broker that charges a fee. For those of us who do charge a fee, the responsibilty lies with you to ensure that a customer understands the benefit that they get from paying a fee and using us.

I have always had a problem with people shopping round in this industry, always will.

Worst was when Iworked in an Estate Agent with 6 agency based advisers within 2 minutes walk. We all used to nick business off eachother - and take great pleasure in it.

MSE does not threaten our livliehood - I am not sure how many of my customers or prospects even know this thing exists before I tell them!!!

Experience has taught me how to sniff out a timewaster in most cases - sometimes I get it wrong, but most of the time I either win them over with my good looks and emotional blackmail or very politley tell them that I would need more commitment from them to use me before I gave them anything more than a 20 min general chat. If they walk away, fine - I'll spend the time more constructively.

Kenshaz

You are very quickly coming across as a 'broker basher' and seem to take great pleasure in telling those of us who post here not only as 'professionals', but also as MSE'ers, that the site is not for us.

The fact that you fail to see how this (and your inability to accept that your comments may need additional clarification to be of real benefit to the OP) really does diminish the effect of what are,sometimes, very valid points.

If you'd had the grace to concede that there are downsides to contacting too many brokers (unneccsary credit searches, conflicting advice to the novice etc) I would have been with you all the way.

There is nothing wrong with shopping around, but to say "shop around and then go the L&C" is within the letter of what Martin says, but not the spirit. Martin is concerned with saving people broker fees when he gives this advice and does not have any objection to people using the services of a local fees free broker - see his 'brokers are the good guys' comment.

Therefore, a more accurate way to interpret the advice could be to say "get advice from a couple of places, but always place your mortgage through a fees free broker. L&C if you are happy deaing remotely, a local firm if you want face to face advice with more of a personal touch"

Just my opinion, but I have spent this evening seperating a 2 and 5 year old (intent on nicking bacon butties from eachother) and could not help but think how familiar this all looked :rotfl: :beer:

I accept your comment's,the majority of broker's are providing a service on this site,but when some advisor's state that they have benefited from this site,in light of the fact that other thread's are dealing with SOA's and assisting those in debt.
My mortgage is paid off and I am financially secure,but I state that to make a point ,not rub the nose's into the dirt of those who are not as fortunate,and state that I received £350 for 15 hours work,by business generated by this site.
I therefore have an open mind to your points ,but that is personal to you and I ,it does not mean that I respect all who post,and unprofessional behavior concerns me.

MortgageMamma

kenshaz wrote:

This site has been set up to promote the ethic's of Martin Lewis,(correct)

when a member of this forum post's a quote from his book he should not be personally attacked by a broker (correct, in the fact it was you I was correcting, not Martin Lewis).

I cannot respond in the manner that they have adopted,because I deal in fact's not personalities,in another post one broker took my word's personally and reacted emotionally,if they identified with my quotes I cannot be held responsible for that.(Its not what you say, but the way that you say it, you could have done mroe harm than good to the forum user with your quote)

They also made statement's which they failed to carry out (why are you bringing this up again? I said I wanted to change my username, I have not yet decided whether I will do this or not, whats the big deal?),so in my eye's they lost all credibility (these forums are not about establishing personal credibility, nor trying to dimish an individuals credibility, so I suggest you find some other means of launching your personal attacks).

They have demonised (I think all will agree that I have NOT demonised anything, and I am entitled to say when I don't agree with something, that is part of my right as a human being) a book that by their own admission have never read.

Remain open minded and post on other topic's,be receptive.(My advice to you would be to remain open minded about the integrity the individuals you are continuing to attack, as without specific evidence of wrong doing by the individual whose conduct and morals you are questioning, you could find yourself in hot water)[/quote]

Now, as I have said earlier, please stop using the forum as a platform for your scathing and narrow minded attacks against brokers, you are simply deviating from the ethics of the site and causing ill feeling for all, and making people questions YOUR motives. Let that be the end of it.

kenshaz

now that you have got that off your chest,thanks for the thanks on the other thread,made me realize that you are vulnerable
Regards Ken
chicks might rule OK and probably do a very good job,just glad it's not you:rolleyes:

MortgageMamma

kenshaz wrote:

now that you have got that off your chest,thanks for the thanks on the other thread,made me realize that you are vulnerable
Regards Ken
chicks might rule OK and probably do a very good job,just glad it's not you:rolleyes:

I'm not just a broker, I'm a wife, a mother and a human being - I have problems and issues just like everyone else - I know I'm not perfect and don't try to be, so I apologise if I have been a little harsh with you Kenshaz, one of my admitted inperfections is the inability to let personal critisism go over my head. I will try my best to understand your views from now on.

kenshaz

MortgageMamma wrote:

I'm not just a broker, I'm a wife, a mother and a human being - I have problems and issues just like everyone else - I know I'm not perfect and don't try to be, so I apologise if I have been a little harsh with you Kenshaz, one of my admitted inperfections is the inability to let personal critisism go over my head. I will try my best to understand your views from now on.

I also have imperfections,I also do not like personal criticism,and understanding your self is an asset,I also apologise if I have been over critical.I feel that I already understand you.I actually have some admiration for your honesty,some other post's have attempted to appear the guardians of diplomacy just before they stuck the knife into both of us.
Kind Regards enjoy your evening
Ken