Should I seek independent advice?

TunaTwist

Are you allowed to recommend an independent financial advisor? I don't mind the fees so long as they're unbiased and not funded by a corporation and will funnel you into them. I want the best for my money and I'm niaeve when it comes to these things!

I just want somebody to talk to about everything, see what my options are, see what kind of limit I can set given the money I earn and the money I have banked.

ACG

If you want a sounding board then any mortgage advisor will do. We all have the exams under our belts and will be able to give you the information your after.

You then have 3 options with advisors:
Independent - This person will typically charge a fee, they have access to pretty much every deal going (including deals if you went direct to the lender and not through an advisor).

Whole of Market - These have access to pretty much every deal available EXCEPT deals if you went direct to the lender.

Tied or Multi tied - these are tied to 1 or a couple of lenders.

DVardysShadow

TunaTwist wrote: »

I love the idea of a house, but that's future plan stuff!

At the moment I'm wanting a 10 year mortgage and after that I'd rent and supplement my income with that rent or sell the flat (hopefully after it appreciates in value).

I guess my main point is that I'm confused, the only sensible option seems to be to buy, and to buy now (I've heard house prices are only going to go up now, could be crap, could be true) but either way at the moment the money's just sitting in a savings account losing money compared to the inflation rate.

Basically I just need advice!

Whoever told you that is probably trying to rush you into a purchase. Given that you are so naive about the process and the legalities of flats etc, DO NOT LET ANYONE RUSH YOU! And cross whoever it was off your list of people to be trusted, particularly if they benefit in any way from you buying a property.

Take your time to understand what you are buying and the intricacies of leases versus freehold [houses only]. And the issues which arise with short leases.

cabbage

Have a read here

http://www.moneyadviceservice.org.uk/yourmoney/everyday_money/getting_financial_advice.aspx

will tell you how to get independent advice and other stuff about investments.

I would say spend a few weeks looking at the pros and cons of buying a property, get independent advice and then make a decision.