Needing lots of advice... Do I seek independent financial advice?

lil_redhead

Please read my thread on "Debt free wannabe" - entitled Taking the plunge... Wanted - advice please. It details my current situ... looking for any advice on any of the things I've raised and if I should go to an independent financial advisor?? If yes Im not really clued up on the whole charges / fees thing - so would appreciate any heads up.

Many thanks,

dunstonh

IFAs are generally investment advisers and insurance advisers.

I havent read your thread but what sort of advice do you need as it may not be an IFA but a mortgage adviser or debt councillor.

lil_redhead

have spoken to a debt councillor... they advised an IVA is not a good option for me due to my salary, Im able to make the minimum payments, have not defaulted and have a good credit score. also my employer frowns upon IVAs and bankruptcy and I would have to disclose it - so really need to steer clear of that one, if i can.

Im basically just keeping a float... my bank - all they ever want to do is to consolidate... but they're rates aren't great.

i have looked into a possible mortgate with a loan... at present im a tenant... northern rock said they were prepared to lend me £153,000 and £30,000 of this would need to be taken for my debt... leaving me still owing £5000 plus I would need to find a place for £123,000.

I live in London so in order to get a property for that price it would mean moving out of London... Essex, Kent or Surrey... this would mean a huge increase in travel expenses £4000+ pa and travelling time... which isn't great when working 12hr shifts...

plus I need savings for solicitors, surveys etc... and I don't have any savings at this time...

the job that i do has unlimited overtime at present... and has done since I joined 2 years ago... and will still be for the foreseeable future... my basic is £1900 pm after tax... I've been bringing in £2600 pm after tax...

I really would like to get on the property ladder... and really feel that with the right guidance I can get on top of this... because I really want to... I owned up to my debt years ago... and talk about it freely with colleagues and friends and joining here is just another step...

any advice would be great and thanks for your time!

x