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Getting Independent advice - best place
Metermaid
Posts: 94 Forumite
We're in rented at the moment, our sale has just completed so the money is in the bank - (have another 5 months on rental to run) - saw a house yesterday we very much like. We have an endowment running so will be needing to take out a mortgage possibly some repayment and some against the endowment. Where's the best place to get independent advice on the best mortgage and indeed course of action for us at the moment? (We're both 45 btw)
Thanks in advance
Thanks in advance
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Comments
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So do you need advice on getting a mortgage on the new place AND advice on your endowment
Just advice on the mortgage
Just advice on the endowment
If you see and IFA he/she would be authorised to do both
If you see a mortgage adviser they will only be authorised for mortgagesI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Well we know the projected figures for the endowment so really just advice on mortgages. Do I just pull one out of the yellow pages - if so is there anything specific I need to look for?0
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Projections on with profits endowments arent reliable and can range from massively overstating the likely to return to understating it. Do not rely on the projections as your only guide to what you may get back.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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I would double check the endowment with an IFA if I were you just to make sure its really on track, also, it could be necessary for you to switch part of your mortgage to capital repayment to make up any potential shortfall.
you can find IFA's in various ways. Yellow pages, local paper, google
Its said that the best way to find one is through personal recommendation so ask aroundI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
easiest place to find an IFA is www.unbiased.co.uk postcode search (ignore other filters as they are flawed) and you will find your nearest ones.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Thanks for the advice, very helpful 0
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