Mortgage Broker or Financial Planner?

Short-n-Sweet

I might sound really stupid here but what is the difference?

I recently googled to find a local broker and it came up a company that I contacted and they seem lovely but then noticed they are classed as a Financial Planner that gives mortgage advice.

I am now really confused! I have a meeting with them tomorrow but I have been treating this exactly as if they were a Broker. So would love to know the main difference :rotfl:

Will they be able to get the mortgage or Just advise me on getting a mortgage :rotfl:

kingstreet

There may be no difference.

Independent Financial Advisors can give mortgage advice and such firms can have mortgage specialists who do only mortgages and associated protection.

We are mortgage brokers and we also give advice on protection products and we are also expected to be able to provide information on some tax planning issues.

Our speciality is newbuild but we can offer general advice and have plenty of experience of issues such as contractors, BTL and so on.

We give advice on and arrange mortgages with lenders who accept business from brokers. If we advise a direct-to-lender product is best for you, we will not be able to offer the arrangement part of the service.

Thanetia

Financial Planners specialise in providing wide ranging advice on your finances, typically looking at your circumstances, spending time with you to understand your short, medium and long term objectives and ambitions, and helping you to build plans to deliver some or all of these. They will nearly always separate out and have very clear processes for firstly building a financial plan, and then subsequently making any product recommendations to help achieve that plan.

Having said all that, there is nothing to prevent them from offering niche advice on specific transactions, like a mortgage, as long as they have appropriately competent and qualified people