Independant mortgage advisor? Mortgage uniforms

englandcrew

Hi, Can somebody have a look at the following link and tell me if they are independent.Im confused as it mentions independent but they don’t charge a fee. Anyclarification please?

http://www.uniformmortgages.co.uk/About Us.html

alexjramsay1

Hi

It says they are independent, but even though they are they still are very likely to receive a fee from the lender they recommend. This is very much normal with most advisers though.

They do however give you the choice of paying them a fee and receiving the commission from the lender.

Alex

dunstonh

Independents have to offer a fee option (which includes rebating any commission received back to you or to offset the fee). Independents can still offer the commission option if they wish (and most mortgage advisers do as the average consumer hasnt got their head around fees yet and dont realise fees can often be cheaper)

englandcrew

Thanks for the replies.

If I decide to use the fee option will they recommend anybody, for example HSBC who only deal direct?

dunstonh

If I decide to use the fee option will they recommend anybody, for example HSBC who only deal direct?

An independent is free to also offer all non-commission paying deals and those that do not deal with brokers. Although some firms avoid the latter (as the adviser cannot process the mortgage and is reliant on the bank/online application/phone application which you would need to do) but you should ask them first to make sure if they do include this.

englandcrew

Thanks again for the swift reply.

My situation is very straight forward (i think anyway). In terms of our credit history being very good and we have saved our money very well and saved a 15% deposit plus fees. Do you think seeing this company will be benifical in your experience or would you suggest looking online for the best deal?

Conrad

Straightforward applicants do not need a broker at all. Check out all the direct only deals out there. I've been in the biz 20 years, every broker will try and sell you life assurance.