mortgage advisors/companies

Katie_Phipps

Hi, please can someone help me? I have been approached by a company offering me a mortgage and finacial service for the term of my mortgage, they charge a fee for this service, is this the done thing as i am told by others that i should not pay a fee as they receive commision from mort. companies. Thanks, Katie. They were reccommended to me and did not cold call, sorry for the misunderstanding>

herbiesjp

I suppose it depends on what services they offer, however there are plenty of advisers out there who, as you rightly say, do not charge extra fees for the advice given but are happy to receive the commission direct from the lender.

dunstonh

As already said, it depends.

I know a number of IFAs that have introduced a servicing charge but for that, they provide all advice commission free. I know others that have a hybrid of fees and reduced commission and there is no reason that there are some expensive ones that charge fees and take full commission.

Remember mortgage advice and financial advice comes under two categories (three if you include general insurance). If you were interested in any deal, you would need to make sure it covers all three advice areas and it not limited to just one.

payless

my main concern would be the "I have been approached" element

ctabuk

Yes I concur, a Mortgage Broker cannot make cold calls. I suggest your Local Council website and opt for Trading Standards

dunstonh

I wonder what hat they had on with the cold call? for example, General insurance can be cold called. It may be that they are using that as a way to get in and then do all the other things as well?