Anyone heard of Carrington Carr Home Finance

CarringtonCheek

A few days ago an advisor came to see me to review my mortgage after filling out an on-line quote system.

He was very knowledgeable, however what I found odd was they offered a life time service for a fee of 2.7%, so I went onto line to companies house to get their latest accounts and wow

Carrington Carr Home Finance Ltd in Leicester lost a whopping -£560,915 last year, so with a record like that how long is my lifetime service going to last, not long me thinks, won't be signing up with these guys.

I suggest anyone else be wary of Carrington Carr.

:eek:

Senior_Paper_Monitor

That is not the main reason to be be wary of Carrington Carr !

Half a million loss is probably not too serious an issue for a firm of that size.

A fee of nearly 8 times what a "very knowledgeable" 'fees free' broker/adviser would earn - and perhaps 5 or 6 times what a normal fee + commission broker/adviser (probably also "very knowledgeable") would earn is a much more important reason !

Conrad

CarringtonCheek wrote: »

A few days ago an advisor came to see me to review my mortgage after filling out an on-line quote system.

He was very knowledgeable, however what I found odd was they offered a life time service for a fee of 2.7%, so I went onto line to companies house to get their latest accounts and wow

Carrington Carr Home Finance Ltd in Leicester lost a whopping -£560,915 last year, so with a record like that how long is my lifetime service going to last, not long me thinks, won't be signing up with these guys.

I suggest anyone else be wary of Carrington Carr.

:eek:

Top marks - if only others had your nouce to check such things, they would'nt get ripped off. Like those that sell homes to the buyer companies, and can supposedly rent - until the directors fall out with thier Bank and get repo'd!

Steer well clear of CC.

ado

They were called Carrington Carr then changed to AWD Home Finance when bought by a German company but following a management buy out they reverted to Carrington Carr.

They are not whole of market and the salesman will try to sell you a lot of life and critical illness insurance as well as a single premium accident sickness and unemployment policy. [TEXT DELETED BY FORUM TEAM]

Their fee used to be a once off amount which lasted for the lifetime of the mortgage but as far as I'm aware now they charge a fee every time they help you re mortgage.

Unless you are completely financially illiterate, don't have any concept what so ever of shopping around, and really don't care about paying through the nose for a service you can get with no fee elsewhere, I'd stay well clear.

simple_sid

Had a call from Carrington Carr offering review of mortgage would take about 45 minutes.
Over 2 hours later the Guy left,in this time he told me that my existing lender had been overcharging me and that they knew all along that rates would drop to a all time low, that I needed to take out every insurance known to man,that my children could be left penniless if I did not take one of their super-duper wills.
He needed to see me in 2 days because lenders were putting up their fixed rates and there was no time to waste.
I cancelled next day when I read a peice a paper he left saying their fee was 2.8%.
That was 3 months ago in that time rates:D seemed to have gone down not up ......a lucky escape!!!!