Usenet mortgage advice

scotsbob

I need some help with mortgage queries.
Can anyone recommend from personal experience a good Usenet group to save me some time searching.

GRM

Is it 1995 again? I think the chances of there still be a vibrant uk.* group relevant to mortgages is pretty slim.

Interesting how many MSE posters I recognise as Usenet posters from 10 to 20 years ago.

scotsbob

GRM wrote: »

Is it 1995 again? I think the chances of there still be a vibrant uk.* group relevant to mortgages is pretty slim.

Interesting how many MSE posters I recognise as Usenet posters from 10 to 20 years ago.

I take it that you don't have personal experience then.

Yes there are many groups, my question is does anyone have personal experience to save me some time.

kingstreet

Excuse my ignorance, but what does a "Usenet Group" do for you?

Are people who use such things allowed to give advice?

buglawton

It's now called Moneysavingexpert.

scotsbob

kingstreet wrote: »

Excuse my ignorance, but what does a "Usenet Group" do for you?

Are people who use such things allowed to give advice?

Allowed??

I can give advice to anybody I choose to. Who is going to stop me?

kingstreet

Giving mortgage advice is a regulated process. You need to have the authorisation to do so from the FCA, or from an FCA-regulated and authorised appointed representative.

Those of us who have such authorisation do not provide advice here as we are unable to satisfy the "know your customer" requirements and can provide only general information.

scotsbob

kingstreet wrote: »

Giving mortgage advice is a regulated process. You need to have the authorisation to do so from the FCA, or from an FCA-regulated and authorised appointed representative.

:rotfl::rotfl::rotfl::rotfl:

Last evening my next door neighbour popped in and was discussing mortgages with my daughter. She offered my daughter some advice.

Last week in our golf club I heard the vice captain give advice on mortgages to a chap in the bar.

To my knowledge neither of them have any authorisation.

Should I notify a constable? Will they get fined or put in prison?

You are not living in the real world. Go to any bar, club, staff room, canteen and you will hear people ask friends, colleagues, families and neighbours for advice on mortgages, insurance, investments etc.

Now, in this modern age, people also share advice and opinions over the Internet.

To come up with such pompous statements as yours is laughable.

I still wait, with eager anticipation, your answer to my question. Who is going to stop us?

GMS

Should you require a lobotomy as advised by somebody down the pub or the next door neighbour then their recommendation of a rust saw and alcohol to perform the procedure may well be accepted.

However you will not find a neurosurgeon agreeing with it.

Anybody unauthorised and unregulated of totally free to dispense advice on mortgages. May be good advice, may be bad but it is not 'advice' and not protected.

I know of a man from my estate where I grew up who though he didn't need an electrician to fix the shower. He bypassed the fuse with tin foil because his mate in the pub said it was fine. Next morning his daughter showered prior to college and was electrocuted and died.

Some 'advice' is harmless, other can lead to harm.

Kingstreet clearly knows his stuff and gives up his time for free to assist people. Others do the same.

Sarcastic comments you are free to make of course. Advice on mortgages however is a loose term. Naming lenders is easy, ensuring it is the most appropriate is the key and something we pay huge fees and insurance premiums to ensure we are correct

scotsbob

I know people who were advised to take out endowment mortgages by salesmen ( sorry, "financial advisers" ) They are now in financial difficulties because they followed that advice. of course the salesmen (sorry "advisers" ) still rolled up their winnings.

As you say advice can be good or bad.

You and your ilk are not the sole custodians of good advice.

How you going to stop those of us who are not under the umbrella of your regulation advising each other ?

buglawton

When all is said & done, the original question of this thread is a most surreal one that other contributors are struggling to take seriously!