Any Advantages Using London & Country Over Going Direct to Bank Myself?

Forever_Red

dmarks wrote: »

My 2p worth was that I had appalling service from L&C so would not recommend them to anyone - if they had been any good, however, I would have probably gone through them. In my experience they never returned calls, answered queries or generally helped in any way at all!

I tried them a couple of years ago and when they came back with the best deal they could find (Nationwide 4.89%), I told them what I had been offered from my existing lender (Cheshire 5.29%) and they said that I should stick with the Cheshire as I didn't have to pay any fees, so it was cheaper in the long run. They were honest enough to tell me that rather than trying to make a few quid.
They will be the first people I phone when this deal expires in May 09 (obviously after posting on here for help 1st )

Alan

PBA

Wow, good to see there's lots of brokers on here wanting to shoot me down! Anyways, the point I was trying to make was that I've certainly seen customers of brokers coming in to my branch with unanswered questions which their brokers don't seem bothered to help out with once the mortgage has completed.

I appreciate Minimike's point that 75% of Woolwich business is introduced, actually I work for Abbey and 2/3 of our business is introduced and our head office (and my shareholding) is very grateful for it. However that's not particularly relevant in a discussion about which service is best for the client.

I appreciate the comments about brokers having a wider range of products, and if OP was cluelessly wanting advice then I wouldn't have stepped into this thread. However if they have already decided what product they want then I don't see why they should go through a middleman. Personally whatever product I was after, being it a flight or insurance or mortgage, I'd only go through a middleman if I wasn't sure from the outset what I wanted and needed advice. If I knew what I needed then I'd go direct every time.

jem16

PBA wrote: »

. Personally whatever product I was after, being it a flight or insurance or mortgage, I'd only go through a middleman if I wasn't sure from the outset what I wanted and needed advice. If I knew what I needed then I'd go direct every time.

You may end up paying more by going direct.

In the case of investment funds it's dearer to go direct than buy the same fund from a discount broker who rebates the commission.

Dan_Collins_2

PBA read your thread again and you will see by its tone the reasons the brokers have tried to shoot you down.

Also working for the Abbey I would not comment on service to the client! Was not that long ago it was named the Shabby abbey!!

dunstonh

Anyways, the point I was trying to make was that I've certainly seen customers of brokers coming in to my branch with unanswered questions which their brokers don't seem bothered to help out with once the mortgage has completed.

And the brokers have had people who have gone to the bank and seen some useless (often trainee) mortgage clerk. You will get good and bad personalities both sides.

Personally whatever product I was after, being it a flight or insurance or mortgage, I'd only go through a middleman if I wasn't sure from the outset what I wanted and needed advice. If I knew what I needed then I'd go direct every time.

In the case of insurance, pensions and investments, that is the most expensive way of doing it. It doesnt matter if you buy Scottish Provident, Legal & General, Friends Prov, Scot Widows or Norwich Union from a tied rep at a bank (or direct), that is more expensive than than using a whole of market adviser or IFA.

jem16

Dan_Collins wrote: »

Also working for the Abbey I would not comment on service to the client! Was not that long ago it was named the Shabby abbey!!

It's not any better I'm afraid.

My son and I ended up with £50 compensation each last September as they made such a mess of trying to transfer two ISAs that we ended up telling them to forget it! They lost application forms, said they had requested the funds from the Halifax when they hadn't and sent my son around 8 bank cards instead of one. We wrote telling them to cancel and put in a complaint about the service which took them 12 weeks to attend to!

Abbey used to be good many years ago but I wouldn't go near them now.

inmypocketnottheirs

minimike2 wrote: »

I notice PBA has not replied....

Hmmm, strange that.....!

Dan_Collins_2

jem16 wrote: »

It's not any better I'm afraid.

My son and I ended up with £50 compensation each last September as they made such a mess of trying to transfer two ISAs that we ended up telling them to forget it! They lost application forms, said they had requested the funds from the Halifax when they hadn't and sent my son around 8 bank cards instead of one. We wrote telling them to cancel and put in a complaint about the service which took them 12 weeks to attend to!

Abbey used to be good many years ago but I wouldn't go near them now.

Well I must admit through our channels they have mainly been good, they slack a little at least once a year.

Branhc wise I think it is pot luck!

minimike2

Dan_Collins wrote: »

PBA read your thread again and you will see by its tone the reasons the brokers have tried to shoot you down.

Also working for the Abbey I would not comment on service to the client! Was not that long ago it was named the Shabby abbey!!

Not that long ago, like, Yestarday?

PBA - Now i now who you work for im pretty much narked off at your original post - Suggesting that Abbey can provide a better service to a client than a broker is disgusting. You will be aware of the mess Abbey is in as you work for them.

This is echod by one of my closests friends who works in an Abbey branch - he is at his wits end with the endless problems, and is proved by the fact the last case I placed with Abbey 5 weeks ago STILL hasnt had a valuation instruced, despite calling the BDM on about four occasions - and the call centres do not want to know and just hang up on you if its not to make an urgent amendment to the application. So please do not again suggest that people can get a decent service from your organisation until they have fixed the utter shambles of a state that it is in.

dunstonh

Abbey have been a mess for the last 20 years. They go from one mess to another. Lack of investment seems to be their problem.