Financial Adviser

sugar_plum_2

I have recently conntacted my financial adviser in regards to re-mortgaging. I havr recieved the paper and looked through it. But my question is when I approached my current mortgage lenders about re-mortgaging they quoted me an amount only a couple of pounds different from what the financial adviser quoted. Should I just approach my own bank and go a head or do I go with the bank that the financial adviser has advised. Do you get any extra protection going through an adviser or does it speed the process up. Does anyone if there is an advantage going through an adviser ???

Thank you

Lipstick_2

Stay where you are, as it may not be worth the hassle.

Lipstick

dunstonh

If you go through an adviser you have protection under the FOS for advice given. If you go direct to the lender you have no FOS protection as you are classed as execution only where you have chosen product and provider. So you cannot complain about the recommendation. Also, the adviser is required to make a number of disclosures in verbal and written format giving you further protection.

sugar_plum_2

Thank you both

JoeK_3

The process of moving your mortgage to another lender is far more involved than staying with your existing lender.

Looking at your post, it would seem that there is very little advantage in moving your present mortgage, unless you want to line the pockets of the adviser.

JoeK