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You have a strange understanding of employment.
Amongst my friends, my 70-100 hour weeks for one employer are stand out strange. Many have multiple jobs (a fair few of which I wouldn't call jobs but they do) with degrees of horse trading and barter being common.
Showing someone how to build a bicycle wheel, change a clutch on a Mondeo using a spanner+hammer+broomstick, or set up a balanced portfolio of diversified assets is all just part and parcel of mates helping each other.
Tomorrow I have a roofer called Zoltan (friend of friend) coming to look at a chimney and part payment may well be me seeing why his Audi A6 keeps lighting its "check engine" light just for the local dealer/stealer to claim "no fault recorded", which is clearly bogus.
You could call this a grey economy, but it's and Audi so we probably need to say "Mica" or "Granite Silver".
I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Showing someone how to build a bicycle wheel, change a clutch on a Mondeo using a spanner+hammer+broomstick, or set up a balanced portfolio of diversified assets is all just part and parcel of mates helping each other.
Maybe so. However, you cannot put a mortgage through without it going through the employer agency and the employer taking on liability for it. Without knowing what the contract of employment is we cant say whether it is fair or not. However, a common model is a 20%/80% split with the employer taking 80% and employee getting 20% and any discounting coming out of the employee chunk. I know another that takes the first £500 of any sale with any surplus being paid. In a low value area, many mortgage commissions would not exceed £500.
As i said, an owner/partner/director sets their remuneration and can play around with it as they see fit. It is harder for an employee unless their contract gives them scope. Mortgage brokers are not typically big earners either.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 -
you cannot put a mortgage through without it going through the employer agency
I've had (past tense) a couple of mortgages but have no idea what an "employer agency" is. Perhaps we can blame this on my natural distrust of middlemen?I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
You have a strange understanding of employment.
Having worked in a customer-facing role for an international company with several hundred thousand employees for nigh on 40 years, I do claim to have a very sound sounds understanding of employment.
I also have an acute sense for what is fair, and believe that people should be recompensed for their efforts and skills.
In the case in hand, the mortgage advisor was offering to do his neighbour a favour, as long as the neighbour would pay the full fee for the favour. At the same time, the mortgage advisor would have been happy to accept a favour from the neighbour, but was expecting to receive this favour completely free of charge.
Surprise surprise they never reached a deal. The mortgage advisor, employed or self-employed, was just to greedy / an idiot.0 -
In the case in hand, the mortgage advisor was offering to do his neighbour a favour, as long as the neighbour would pay the full fee for the favour.
He was completing a business transaction. The neighbour wanted to turn it into a reciprocal favour.At the same time, the mortgage advisor would have been happy to accept a favour from the neighbour, but was expecting to receive this favour completely free of charge.
We dont know that.Surprise surprise they never reached a deal. The mortgage advisor, employed or self-employed, was just to greedy / an idiot.
or an employee doing his job within the remit of his role without the authorisation to waive those fees.Having worked in a customer-facing role for an international company with several hundred thousand employees for nigh on 40 years, I do claim to have a very sound sounds understanding of employment.
And I am sure all several hundred thousand of them had discretion to charge less for their services.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 -
He was completing a business transaction. The neighbour wanted to turn it into a reciprocal favour.
I work at director level in a FTSE listed company. Many business transactions *are* reciprocal favours at the middling level of the business, and these are usually those deals that do very well long term.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »I work at director level in a FTSE listed company. Many business transactions *are* reciprocal favours at the middling level of the business, and these are usually those deals that do very well long term.
Surely it depends on the regulation of the nature of the transaction or the industry involved.
In theory the mortgage adviser could have waived the fee in part my paying a proportion himself though quite how that sits in the face of a regulatory review/later complaint doesn't really sit easy. Especially as any redress could be many times the cost of the original fee. I'm stuggling to think how I would explain to the company I work for that I wanted to give the customer a discount as they were coming to sort out my home cinema system.
Had the mortgage adviser been a mechanic for example, he probably wouldn't have thought twice about offering a free MOT or something for the return of favour.0 -
dale_cotterill wrote: »Had the mortgage adviser been a mechanic for example, he probably wouldn't have thought twice about offering a free MOT or something for the return of favour.
I'm sure I probably shouldn't have fixed the bathroom light fitting for my elderly neighbours due to the closed shop that is Part P. Of course, they didn't pay me, but there was a bottle of red wine in my toolbox as I left that I don't recall being there when I walked in.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »I'm sure I probably shouldn't have fixed the bathroom light fitting for my elderly neighbours due to the closed shop that is Part P. Of course, they didn't pay me, but there was a bottle of red wine in my toolbox as I left that I don't recall being there when I walked in.
Would you still have fixed the bathroom light if you had to pay your employer £500 for doing it?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 -
Would you still have fixed the bathroom light if you had to pay your employer £500 for doing it?
Only £500? Surely I should also be charging 0.5% of the value of the property every year thereafter too?I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
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