Mortgage Adviser/Financial Adviser

fedup2007

Hi folks. Whats the best way to find a reputable financial adviser? Its pretty urgent and the broker I have paid and have been using has let me down terribly. Can't get any recommendations from anyone so is there some sort of 'directory' I can consult? Thanks...

JoJoArmani

I can recommend mine...PM me - he has been very good so far!

fedup2007

Ahh I should add obviously this person needs to be in my locality - a bit of face to face explanation is required really - but then again is it?

JoJoArmani

Not really. My guy is not that far from me but we will be doing it over the phone/email/post etc. The brokers Martin recommends are internet/phone based - so you don't "have" to do face to face. But you will need to send your id to the broker at some point...

Conrad

Fedup, what you must not do is use SALESMEN. The best advisers will not necessarily be good salesmen or personable.

Salespeople will tell u what you want to hear, but invariably this means they will over promise.

Deal with a straight talker who has years of experience.

fedup2007

Indeed. I have been waiting 7-8 months to organise a re-mortgage - granted my situation is quite complex but the broker has asked me for the same information at least 5 times - no I'm not exaggerating. He is making suggestions that I use savings and credit cards to pay off unsecured debt - neither of which I have and wouldnt use them to do this even if I did. I tried Charcol but again getting all the accurate information across to a broker who continually asked me the same questions and never did a credit check - well she came back to me and said she couldn't find any products. I told her it was important she did an up to date credit check - I got one from equifax and experian and both had inaccuracies. I need to sit down with someone - spell the situation out - and see what the REAL options are. God this is really hard work!

JoJoArmani

if she couldn't find any products without running a credit check then perhaps there are no options currently available? seems lots of lenders are being very strict.

I heard lenders are more interested in your financial history than the equity in your property (if thats the right word???).

you need to get a fees free whole of market broker. there are lots on these forums - you could approch one privately and see if they will work for you.

best of luck!

fedup2007

Yeah I read these forums regularly and know about the increase in restrictions. I didn't have much faith in what she told me because she based this on what I told her about my credit report - even though I told her it was inaccurate and I have a letter from the mortgage co. to support this.

dunstonh

www.unbiased.co.uk is the UK database for IFAs. However, IFAs are investment advisers but some will hold mortgage authorisation or employ a mortgage adviser.

herbiesjp

fedup2007 wrote: »

Indeed. I have been waiting 7-8 months to organise a re-mortgage - granted my situation is quite complex but the broker has asked me for the same information at least 5 times - no I'm not exaggerating. He is making suggestions that I use savings and credit cards to pay off unsecured debt - neither of which I have and wouldnt use them to do this even if I did. I tried Charcol but again getting all the accurate information across to a broker who continually asked me the same questions and never did a credit check - well she came back to me and said she couldn't find any products. I told her it was important she did an up to date credit check - I got one from equifax and experian and both had inaccuracies. I need to sit down with someone - spell the situation out - and see what the REAL options are. God this is really hard work!

What is complex about your situation?

Conrad

You say your credit report is misleading. Many clients say this to me but it's completely irrelevant as lenders will only go by whats on the report regardless of any other letters you have.

Spell out your needs and situation and Ill see if I can give you some pointers, but be clear - dop not leave out vital info.

The value of your property must be a "to sell immediately" value, not a "to sit on the market for a while" value.