Finding an IFA

ACG

chug wrote: »

Hi

I agree with what Dave Ham said. If you have a good history you can do it yourself but if not then get an adviser. I have to admit though when I was a first time buyer I went to a FIA only because it was my first time and I didnt know what to do. Im now in the middle of remortgaging and I have done the research myself and have found the best deal and the cheapest around for me. I basically wrote a list of all the banks and building society's I could think of and looked at all there sites and compared them.

I hope my advice helps good luck.

I dont disagree you can do it yourself...but what about the banks/building societies you havnt heard of?

We have software that sources all the lenders and mortgages available to us in what can be a matter of minutes.

chug_2

That is very true ACG. I didnt realise there was other banks that I probably never heard off. Im intrigued now what other banks are out their lol.

ACG

Which ones have you heard of :-P

Bank of china? Bet ive got you there havnt i? They do mortgages over here.
Im not trying to catch you out or anything, and to be honest what you have done is probably what a lot of people do. Nothing to say you havnt found the best deal out there.

bigadaj

However, to balance the argument, as far as I understand it hsbc and others don't deal with brokers?

ACG

Very true, but an independent mortgage/financial advisor can still include them in their searches and recommend them.

Whole of market and tied/multi tied however can not.

wendydarling

Thanks for continuing the thread, info is very interesting. Does anyone know how long mortgage offers are standing for at the moment? I want to be prepared so I can start looking a thouse confident that I can afford them but not too sure how long it will take my house to sell so need to balance it out. Or should I have had this organised already?

Dave_Ham

You may be better with a broker, or some serious research on here or elsewhere..

You cannot get a mortgage offer, until you have an offer accepted and then that said property valued.

You can get an Agreement In Principle (AIP or sometimes called DIP) now that will tell you, based upon your circumstances and credit score you can borrow. This will vary by lender.

Once you have an offer accepted, you give the Estate Agents the AIP form (they then pretend you have to see their mortgage advisor - sorry another story) and then you complete the ful application and have a valuation instructed. Once all back and ok, the mortgage is offered. This usually lasts for 3 months or 6 months although again is different by bank, as sometimes a product have an expiry date.

Then it all goes to the solicitors - be ready for some stress and given that I suspect you have not undertaken this process before, a decent broker to hold your hand may be beneficial..

Hope this helps clarify

Wh05apk

ACG wrote: »

Unbiased.co.uk
freeindex.co.uk
google.co.uk

All of those can help you.

Ask if they are whole of market if thats what you want and whether or not they charge a fee. They will give you a document on your first meeting with them - this will explain what they can offer, their fees, etc which they will/should run through with you...on there it will say whether they are whole of market or tied/multi tied.

dont be afraid to ask the questions. The last thing they want to do is make an appoitment with you if they dont meet your criteria as its a waste of their time.

"unbiased" is definitely NOT unbiased, basically these are "opt-in" istings which anyone can get onto, with the option for paid listings.

Never heard freeindex, and would assume this is an "opt-in" service which anyone good or bad can list on.

ACG

Unbiased - im not on it, but its a place you can go to see different companies.
Freeindex i am on and yes anyone can register freely. You can review different companies on there but there is nothign to say the reviews arnt friends/family of that person.

dunstonh

Unbiased is unbiased in that everyone can be listed on it. However, it is commercial so it defaults to only show paying members on searches unless you untick the box to show all members.

It is still the best resource in my opinion although the fact you have to unselect the option to show all is a niggle. Although I bit the bullet and paid up. So, now I quite like the fact it only shows paying members as default - jk