Take extra care when using brokers at moment

MortgageMamma

I was under the impression you like amateurs

homer_j_3

get a room

MortgageMamma

I'd probably be tempted but.....he's my principle!! :eek: :rotfl:

spurs_nut

MortgageMamma wrote: »

I'd probably be tempted but.....he's my principle!! :eek: :rotfl:

she has big baps you know mmmmmmmmmmmmmmmmmmm

silvercar

and there was me thinking that mortgage advisors advise on .....mortgages and IFAs advise on CiC, PHI etc

Ian_Griffiths_Halifax

How long before somebody quips about Endowments?

MortgageMamma

spurs_nut wrote: »

she has big baps you know mmmmmmmmmmmmmmmmmmm

LOL spurs not, I've not seen you for ages, hows it going in the bakery of life?:D

payless

silvercar wrote: »

and there was me thinking that mortgage advisors advise on .....mortgages and IFAs advise on CiC, PHI etc

IFAs are generally investment bias, mortgage advisers - mortgage bias, and usually both offer protection products ..
its all based on the FSA fee blocks wthat we pay as advisers

A012 or A013 for investments
A018 Mortgages
A019 Non investment insurance

advisers are generally authorised for 1, 2 , or 3 of these

mortgagemark_2

payless wrote: »

Usually brokers can source deals better than on High st, however for a number of reasons some of the best deals are currently avaiable only direct.

Some lenders only sell direct , others ( many of the big players) are currently offering lower rates / lower fees deals via branches than thro' brokers. For example 2 big players have trackers deals 0.5%pa cheaper if going direct than their comparable deal via brokers

If using comparison sites make sure they include direct deals as well.. not all do

HOWEVER a broker can help - To get the overall lowest cost ensure your broker is being totally open with you and discuss these deals ( Just saying He's " Whole of Market " is not enough if you want a true comparison from the REAL Whole of market ) .Therefore if you need help / reassurance with research then I would say at the moment you may it worthwhile sourcing a broker who will be open ( perhaps that means you might need to pay him a fee for his initial time ) who will go thro' the various direct deals and then give you the info to apply direct if thats the overall best option for you.


OK he won't make as much ( although less paperwork / chasing if only adving on research rather than processing ) . Of course if you are happy to pay for the broker deals to get his extra service / protection on processing thats fine.

Looks like this has now hit the National Press - BBC link

http://news.bbc.co.uk/1/hi/business/7385119.stm

MortgageMamma

as usual the BBC are only reporting the bare bones of is without informing the public that they can still use brokers on a fee basis for the direct deals. Might drop them a line on the matter.

MM