Seeking Independent Financial Advice

pill84

Hi,

What is the best way to seek out 'Independent Financial Advice' specifically for mortgages.

I'm considering a 'Let to Buy' approach to enable us to move house but need some financial advice on the viability.

I've 'googled' IFA's but I'm not getting far.
Are there any websites that list IFA's and what they specialize in?
I live in Manchester.

Thanks.

dunstonh

Most IFAs do not transact mortgages. They leave it for the mortgage advisers to do. However, many IFAs will employ a mortage adviser and there are still the odd ones that will do mortgages.
https://www.unbiased.co.uk is the main website for coverage in the UK. It has something like 99% of advisers. (although the recent web design looks a bit ugly you can post code search)

C_Mababejive

Do you need any formal qualifications to be an IFA and if not,what should one look for?

ACG

IFA's will need a diploma from next month.
Mortgage Advisors need either CeMap or a CII qualification instead.

I work with a financial advisor and as dunston says they just dont do mortgages in the main. If you want someone that deals with mortgages day in day out then you are probably best searchign for Mortgage Advisors - rather than Financial Advisors.

pill84

Ok Thank you

dunstonh

ACG has been around long enough to know not to do that. Given the thanks on your post, I suspect there is something I am missing here.

ACG

Not really Dunston, im in the bad books this time.

The OP is having problems locating what theyre after on google. Ive offered to give them a call to discuss it, my thinking is theyve put that theyre in Manchester for a reason.

Its not something i ever do, if i was actively doing it i wouldnt be posting about it in the open forum but i will take whatever punishment comes, like you say i should know better.

I thanked it because it just made me smile, the one time i do it and i get reported.

GMS

OP you could give details of what you are looking to do and get some initial help. From there you may have more confidence/knowledge when you speak to a broker.

Conrad

A number of lenders allow let to buy.
One of the easiest is Halifax, they do not even worry whether it will be let or not and can simply accept an INTENTION to sell. There is nothing at all requiring you to sell. If you subsequently could not sell, well then you just let it then, although you'll need to be mindful of your existing lenders conditions and any insurance implications.

Dave_Ham

Few things:

Firstly I recall from a previous thread by the OP (I think) that the let to buy is also a solution to raise cash as a deposit for a new purchase.

This is why it is so dangerous to throw lender names around and to think you have been behaving yourself lately Conrad..

This is likely to require a formal let to buy and you are wise to seek formal advice on the matter, as many of these lenders deal exclusively with brokers.

Onto ACG being a naughty boy. Whilst it is against forum rules to tout for business, I am certain the OP would be better off getting in contact with ACG rather than taking a punt off Google. Given the geographic proximity, I think CG misinterpreted the request rather than flagrantly disregarded the forum rules.

He has stuck his hands up and that is good enough for me.

To think of all the help he has given forum users free of charge, to be so passionately grassed up with pride is a poor show.

MellBell back to milk monitor days at school...

All the best OP