Anyone used Finance advice centre Ltd as a Mortgage broker?

Will922016

Good evening all,

Has Anyone used Finance advice centre Ltd as a Mortgage broker before? They are based in Derby.

They are registered and listed on the FCA website and have over 160 really good reviews.

They seem good as I had a chat with them the other day but you can't be too careful these days!!

I will appreciate any responses to ease my mind, or any ideas you have so I can't ensure they are legit.

Thank you

W

Torfoxwell

I had a friend who used them said they were really good , her advisor was called rob shaw....said he made the impossible happen !!

Shantastic

Hi
Has anyone use the Financial Advice Centre Derby for mortgage before? I am looking for a mortgage but they're asked for commitment fee of £250 pior to the getting me an Agreement in principle, they won't even tell me which company they will apporach for.

dunstonh

Most mortgage advice firms are small localised firms with 1-4 advisers. So, internet coverage of these firms is usually light. Usually on par with your local butcher.

they won't even tell me which company they will apporach for.

That is quite reasonable. To get to that point, they would need to have carried out a factfind and completed the research. Giving you the outcome without paying is pointless.

Shantastic

Fair enough but from my research most mortgage advisor don't take payment till after completion. I'm just a bit worried that's all.

ACG

We invoice for our fee shortly after the mortgage has been offered. There is no standard point when the broker charges, but it has to work for both sides.

If you are not happy paying upfront, then you need to negotiate or find another broker.

Personally, I would not pay upfront, they may come back with a poor deal or worse, no deal at all. Presumably there is no guarantee they will get you an AIP let a lone a mortgage offer?

Shantastic

Exactly why I am so reluctant to go with them.They also have a no refund policy if you don't go with the lender they choose.

dunstonh

What are their terms if the mortgage is not agreed? (there are usually terms covering that scenario)

Shantastic

Thanks,the term is that if the mortgage is not agreed they will find me another leader and if I am not happy with that leander they will not give me a refund.

AlisonFAC

Shantastic said:

Thanks,the term is that if the mortgage is not agreed they will find me another leader and if I am not happy with that leander they will not give me a refund.

Hi,
Very sorry for the late reply, this post has only just been bought to our attention.
Our upfront commitment fee is for obtaining an Application in Principle for our clients. This is after completing a fact find to attain your current circumstances/needs and researching the mortgage market to find lenders/rates to suit your needs. A lot of our customers come to us because they have adverse credit ie. missed payments, defaults, CCJs etc which we're very good at finding a lender to suit. Therefore, should we be unable to obtain your a mortgage based on the information you have provided we will refund the upfront fee. However, should there be any undisclosed information that comes to light after the AIP, it maybe that the fee is retained to cover the work undertaken. We do our very best in every circumstance to get our clients a mortgage and have many happy customer. Please see our latest reviews on reviews.io and feel free to contact our offices on 01332 821340.

AlisonFAC

Shantastic said:

Hi
Has anyone use the Financial Advice Centre Derby for mortgage before? I am looking for a mortgage but they're asked for commitment fee of £250 pior to the getting me an Agreement in principle, they won't even tell me which company they will apporach for.

Hi,
Very sorry for the late reply, this post has only just been bought to our attention.
Our upfront commitment fee is for obtaining an Application in Principle for our clients. This is after completing a fact find to attain your current circumstances/needs and researching the mortgage market to find lenders/rates to suit your needs. A lot of our customers come to us because they have adverse credit ie. missed payments, defaults, CCJs etc which we're very good at finding a lender to suit. Therefore, should we be unable to obtain your a mortgage based on the information you have provided we will refund the upfront fee. However, should there be any undisclosed information that comes to light after the AIP, it maybe that the fee is retained to cover the work undertaken. We do our very best in every circumstance to get our clients a mortgage and have many happy customer. Please see our latest reviews at reviews.io and feel free to contact our offices on 01332 821340.