Word of warning about AWD mortgage brokers

JEMJAR

Hello I am new to this so please bear with me. Had a phone call two weeks ago from AWD offering to come round to discuss a remortgage deal (can't remember requesting this) sounded very nice and said our circumstances were very good and should be able to make considerable savings on our current deal (we are with northen rock fixed rate deal ends 1st sept). So arranged for a broker to come last Monday eve they phoned three times to confirm but it happened that hubby had to work away so we phoned and cancelled. Have been phoned five times since trying to push for another appointment. In the meantime I read the mse remortgage guide, contacted L & C have sorted out a deal, so when I got another phonecall tonight from them trying to arrange another appointment explained no longer needed them and was happy elsewhere, the fella then turned quite nasty and said I wasn't getting the best deal and fees free brokers aren't as good as ones you pay for so I asked him to beat the deal I had accepted he eventually agreed he couldn't and rang off.
Have since read some unpleasant stories about them so beware!

minimike2

Not really fair to tar all AWD brokers with the same brush....they are massive and have a large number working for them.

Einstein

I have had dealings with AWD Home Finance. Mine have been positive. I can't agree with some of the comments I have read. They do charge a fee and it is more than some charge, but I you get what you pay for.

If you are weak minded and scared of saying 'no' then you'll never get anywhere in life. If you don't want to speak with them simply tell them. If you think the advisor is pushy - tell them. If you don't want to take their advice - tell them. There is no cost in listening to what they have to say.

In this day and age with the regulatory bodies and channels for complaints and compensation giving good advice is compulsory, it's up to you if you take it or not.

Don't think for a second that your bank or existing lender isn't screwing you over just because they are not charging a fee. Also if a broker doesn't charge a fee what is stopping them for arranging a mortgage for you that pays them more than another one? No such thing as a free lunch!

Tiddler_2

Einstein wrote: »

I have had dealings with AWD Home Finance. Mine have been positive. I can't agree with some of the comments I have read. They do charge a fee and it is more than some charge, but I you get what you pay for.

If you are weak minded and scared of saying 'no' then you'll never get anywhere in life. If you don't want to speak with them simply tell them. If you think the advisor is pushy - tell them. If you don't want to take their advice - tell them. There is no cost in listening to what they have to say.

In this day and age with the regulatory bodies and channels for complaints and compensation giving good advice is compulsory, it's up to you if you take it or not.

Don't think for a second that your bank or existing lender isn't screwing you over just because they are not charging a fee. Also if a broker doesn't charge a fee what is stopping them for arranging a mortgage for you that pays them more than another one? No such thing as a free lunch!

Firstly, you answer you're own question - in that regulation stipulates, that a broker has to justify why they recommend a certain deal.

Secondly, the majority of lenders that work in similar customer markets (mainstream, self-cert, BTL, adverse) offer very similar levels of commission on their deals - so in most cases that removes or seriously reduces the potential for this happening.

I don't know anything about AWD other than the fact that they used to operate under the name Carrington Carr, who had a very poor reputation. I have worked at a company in the past who have charged up to 3% for a Broker fee, but walked out on principle of some of their working practices. I feel that reasonable fees (my current max is a £495 flat fee) are justifiable.
Does paying a bigger fee mean you get a better service? No it doesn't, so in life you don't always get what you pay for!!

_Andy_

I get the feeling Einstein probably works for AWD.

Tiddler_2

I did think that, seeing as he brought up a post which is over 2 weeks old

happybroker

probably been busy counting the money from all those "typical" 1.95% broker fees!

seaweed5254

Just had a face to face encounter with AWD last week. I would say it was not a good experience.

curlyboy

not being funny just tell then to fck off politely..They were pushing me to send someone out i said i was going on holiday I said call abck 11th 2morrow, ive sorted a deal out now I cant wait to get into a row with them if they try and push to send some1 out LOL.......be firm for Christ sake

xxmiracleman

I get the impression from the top of the thread that these guys are cold calling for mortgage business. Isn't that against FSA rules?

curlyboy

************ DO NOT USE THEM *****************cold calling yes and to a number of people i know as well