Current Fixed Rates...

tidyfinance

While we're on the subject of IFA's.
Is it normal practice, when one visits your home for a 'chat/advice' to request:

past pay slips
Utility Bills
Passport
Driving Licence and
Bank Statements

I mean we've got a guy coming around tomorrow - don't know him from Adam (although actually he's been recomended by my wife's friend) so identity theft comes to mind

Or am I just being completely paranoid?
I realise that should we go with his advice, then obviously the Bank/Buildig Society would require this information. Assuming we swap Mortgage lender of course.

? opinions please. Thanks

Thrugelmir

tidyfinance wrote: »

? opinions please. Thanks

Until you are happy to proceed with a product suggested. There's no need to provide these documents. Don't be pressurised into making a snap decision.

slummymummyof3

YBS have large arrangement fees associated with their mortgage products though and legal fees are not included although the advisors don't explain this particularly clearly.

Have you looked at HSBC deals?? These were only £99 arrangement fee (I think they still are) and we didn't have to have a valuation done either - we initially went with YBS and would have paid for a valuation and legal fees etc - would have cost around £1300 in fees alone. Had a bit of a fight on my hands to get money refunded from YBS after being provided inaccurate info by customer services - we swapped to HSBC who were significantly cheaper in set up fees - not much difference in rate though.

GMS

tidyfinance wrote: »

While we're on the subject of IFA's.
Is it normal practice, when one visits your home for a 'chat/advice' to request:

past pay slips
Utility Bills
Passport
Driving Licence and
Bank Statements

I mean we've got a guy coming around tomorrow - don't know him from Adam (although actually he's been recomended by my wife's friend) so identity theft comes to mind

Or am I just being completely paranoid?
I realise that should we go with his advice, then obviously the Bank/Buildig Society would require this information. Assuming we swap Mortgage lender of course.

? opinions please. Thanks

The adviser is required to verify that you are who you say you are. Income also needs to be verified so payslips would be needed.

For an initial chat you may choose not to hand over the documents but in order to progress they will be required.

Check if the adviser is genuine by looking on FSA register http://www.fsa.gov.uk/register/home.do

The documents are not just for the lenders. Advisers are also required to keep copies of documents on file.

tidyfinance

GMS, Thanks for your reply.
FSA register link is a handy one to have.
Sorry I've taken so long to reply!

Tidyfinance