KMS Independent Mortgage Advisers

zukibear

Can anyone tell me if there is a way of checking out an adviser?
I have had dealings with KMS in New Malden Surrey and I do not feel confident with their practices however I am too far into the house selling/buying process to go else where.
Any advice would be appreciated.

Dave_Ham

You can check them out on the fsa website, all of us authorised brokers are listed on their register..

You may need to give us a bit more to go off in terms of practices if you want an opinion on these too...

zukibear

Well the 'pub' experts seem to think that these maybe fundamental errors : Mortgage application in one name - two names on the property (not allowed), and "your application was rejected they won't tell me why".
Am I expecting too much?

Dave_Ham

Never trust the experts in the pub..

Clearly there are issues away from the mortgage advice. Is one of the 2 people on the deeds in a debt management plan, IVA or alike?

You can remortgage in 1 name only, subject to all parties being happy and this being declared...

I am assume you failed the credit score, but think the broker could have articulated a bit better...

What are your circumstances and any reason you are struggling?

Conrad

2 names on deeds, 1 name on mortgage, as you say this will never work so in fact the pub experts may be right. I find many brokers are insufficiently experienced and cause more harm than good. Complain to them and the FSA now if they have caused you loss, in fact even if you haven't suffered a loss, as the FSA need to know if bafoonish advice is being dolled out by this firm.

You might find a small one man band broker with lots of experience is the better way to go. In broking, big is almost always not very good. I sed to be regional manager of a big estate agency based broker and they were forever loosing staff and taking on new inexperienced people. No amount of course learning gives a broker anything useful. Experience and a sharp mind are whats needed.

zukibear

Neither of the mortgage applicants have any sort of debt problems, in fact the only debt is the mortgage, credit card is paid at end of every month. It was suggested that the mortgage application be put in one name after the first rejection as one of us had been made redundant.
We were recomended to made a new mortgage application jointly with a new lender to overcome the 'names on deed' situation and credit scores were fine.
Our circumstances are, in my opinion, favourable - less than 50% LTV, thats why i dont understand the problems - unless its an adviser issue, whom, as far as I know is a one man band and not part of a large brokerage.

Thrugelmir

zukibear wrote: »

Our circumstances are, in my opinion, favourable - less than 50% LTV, thats why i dont understand the problems

50% of what? Lenders don't base their risk assessment purely on equity. A misconception by many.

Dave_Ham

Sorry I do not understand..

Have you got the mortgage?

If you are purchasing, how can both names already be on the deeds?

Sounds like some bad calls, but what exactly is your issue as getting confused now

Noviceinvestor

My partner and I own a property together in both our names, but only my name is on the mortgage. My high-street lender was quite happy with that (because I have a regular income and my partner doesn't).