First Time buyer and clueless

nearlyrich

As Meeper is having a dig at L & C I will redress the balance I have never used Meeper as a mortgage advisor so I can't comment on how good he is at his job but I have used L & C for several re mortgages over many years long before this site came into being, I always found them to be great, the service is still good as my DD is currently using them for her first mortgage.

This is my own opinion based on my own experience, and as a sales person I was always taught not to rubbish the competition Meeper it's so unprofessional.

I feel the lack of info is probably because the OP doesn't know or doesn't want to tell us all the relevant facts not that L & C haven't given them to the OP;)

doowop

Thanks everyone! This certainly has given me a lot of food for thought! I am going to go back to L&C and certainly shop around with other brokers...

Meeper

I'm not necessarily having a dig at L&C specifically, but any adviser who doesn't follow the regulatory requirements or keep their clients fully informed as to what is going on with the process.

Quentin, please feel free to stop stalking. There is no self-promotion here, I don't come here to promote my service (find me some examples of it if you like) and my other business has nothing to do with my work in this forum.

Anyhow - doowop - hopefully everything turns out well for you. I'll stress again that I'm not picking on L&C particularly, I just get frustrated when proper procedures aren't followed and people are not kept informed as to what is going on. There's another thread on here whereby their adviser has sent them just a signature sheet of an application and asked them to sign. They are signing to say that the information in the form is true and correct, but they don't get to see a copy of the form. That kind of stuff gets my goat.

Quentin

Meeper wrote: »

.... I don't come here to promote my service (find me some examples of it if you like) .....

We don't have to look too far.

This is from you in this thread:

Meeper wrote:

...my clients appreciate the value that I add to the process and they are happy to pay for that extra service

getmore4less

Wh05apk wrote: »

No you will not have to pay tax on the gift (unless your parents die within 7 years and their estate is over the iht threshold)

Meeper wrote: »

No tax to pay on the gift, provided they are still alive in 7 years time. If they die within this period there may be a potential Inheritance Tax liability

Amazing 2 people know the tax regime in an unspecified country.

There will be no UK taxes on reciept of the gift.

Any potential UK IHT would be met by the estate before you would be liabe the total gifts(to all people) would need to excede the nill rate band and not have enough assets in the rest of the estate to pay any tax due.

kingstreet

Not strictly on-topic, but try to bear in mind there may well be service charges and ground rent payable if you decide to go for a flat. You need to take these into consideration when looking at your overall expenditure.

mc2705

I have just completed on a mortgage and used L&C. The advisor I had there was excellent and things seemed to proceed quickly and smoothly. I was a FTB though so have nothing to compare the service to!

doowop

Thanks Kingstreet. I've been looking into that - good thing about it is is that it is a share of the freehold! Is putting an offer 15% below the asking price too cheeky??

Hugbubble

doowop wrote: »

Thanks Barros...you are absolutely right! I need to get a a grip and see the flat again and sit down and budget. I took a friend along with me on sat but they got a bit more carried away than I did... Not very helpful.

And make sure you find out what the services charges & council tax are for the flat as these are likely to be your second biggest outgoing after the mortgage. My service charge is nearly £200 a month, so not inconsequential!

Hugbubble

Yorkie1 wrote: »

Please don't tar everyone with your personal hobby-horse brush.

I used a fee-free broker. He made sure I saw the screen with all the details of all the products & lenders. He fully disclosed all the relevant documentation and information. There was no cover-up or other shoddy practice as you describe.

He came highly recommended and lived up to that reputation. A colleague visited him for a re-mortgage and came away with the advice that staying on the SVR would be better than a new product at that time for her circumstances and preferences.


There will be good and bad advisers in all fields. But you only show yourself up by slating everyone the same.

And no, I am not a broker - nor do I have any personal axe to grind or promote with regards to them.

Agreed

Likewise, my fee free broker was a dream and as a FTB was incredibly useful through the whole process. I went direct when I remortgaged so didn't use him again but recommended him to many of my friends who had the same high level of service.

Edit to add- it wasn't L&C though