Word of warning about AWD mortgage brokers

dunstonh

Plus how can they cold call you if they didnt already know your details and when your mortgage was ending.

That is not good enough to satisfy FSA requirements to call. You need express consent.

toonfish

vic76 wrote: »

I repeat AWD Home Finance is only one very small specialised arm of AWD you can get a mortgage in the usual way from (AWD) Moneyextra.com be careful not to include the whole of AWD operations under AWD Home Finance who deal mainly with those with credit, debt issues and dont even operate under the same FSA number. AWD has been operating in the UK for 40 years http://www.awdplc.com/about.htm - we can all find a link clever clogs. I could reel you off at least 7 companies I know of just personally that have been swallowed up by AWD in the past few years, Carrington Carr being one
Plus how can they cold call you if they didnt already know your details and when your mortgage was ending. You probably signed up to one of the many companies they have taken over, the customer databases are all included as part of the deal

I think you should invest in a bigger spade

payless

Yes - the link you gave has a big advert for "Home Finance" with their phone number

punch taht into google and find

http://www.coldcallingdatabase.com/2007/04/13/another-annoying-number/

payless

although that's better than punching in Carrington Carr .. first link .. then click on the .com link

vic76

If you looked up the history on companies house of any company of this size Im sure you would find a few "allegedy dodgy" companies that they have swallowed up

Quite honestly I dont give a **** about home finance as I dont work for them but I do work for AWD.

Its like somebody slagging off and saying avoid the Halifax for a particular reason and including Intelligent finance, Bank of Scotland, Clerical Medical etc in that for the same criticism just because they have the same owner even though they are totally seperate operations, they are just a subsidiary.

i.e. you cant include all the other companies under the massive AWD umbrella in a huge sweeping statement.

AWD Chase de Vere has won awards as has Moneyextra which as I pointed out earlier you can get a mortgage from in the usual way

Plus you are not cold calling when its your existing customers, just beacuse the name has changed does not change that fact

I quote from the FSA website

"unless there is a pre-existing customer relationship through which the consumer expects to receive such promotions"

dunstonh

Plus you are not cold calling when its your existing customers, just beacuse the name has changed does not change that fact

I quote from the FSA website

"unless there is a pre-existing customer relationship through which the consumer expects to receive such promotions"

I suggest you read up on mortgages and not investment or general insurance.

vic76

happybroker wrote: »

one of the largest IFAs in the UK and the largest one in Europe

are we not a european country any more, have I missed something?

DOH - we are not the largest IFA in the Uk but we are in Europe cos we have advisers in France, Spain, Germany etc - clear enough

We certainly did not used to "be Carrington Carr"

Yes you did! excerpt from companies house under previous names;

Previous Names:Date of changePrevious Name01/11/2004CARRINGTON CARR LIMITED10/03/1993CARRINGTON CARR (HOLDINGS) LIMITED20/06/1991CARRINGTON CARR LIMITED01/12/1988CARRINGTON CARR FINANCIAL SERVICES LIMITED

AWD AG HOLDINGS, AWD CHASE DE VERE, AWD CONSULTING, AWD MONEYEXTRA HAVE NEVER BEEN CARRINGTON CARR which have been around much longer than them and are infinitely way bigger than they ever were. One tiny little subsidiary was set up from what was once Carrington Carr

these are some very uninformed commemts

they certainly are, you ought really to know who you work for.

there will always be a bad egg.

an admission? If you employed several thousand employees all over europe could you personally guarantee every one of them???

If you are unhappy with any aspect of service or contact from AWD then write or call in & complain we have a dedicated dept that takes such complaints very seriously as compliance, treating customers fairly and maintaining a good reputation are key to AWD and their future success

Go for it people!

and finally.....

us on watchdog etc!

it could happen judging by the comments posted.

vic76

dunstonh wrote: »

I suggest you read up on mortgages and not investment or general insurance.

that was specifically from the mortgage page bighead

dunstonh

vic76 wrote: »

that was specifically from the mortgage page bighead

I would like to thank you for your continued posting as it just highlights more rule breaches and reminds posters that AWD employs people who think its ok to break rules. Having a client relationship is not enough by itself. The client needs to be aware that you will be contacting them in future. This is widely known as express consent

Here are some links to back up the no cold calling for mortgages:

http://www.fsa.gov.uk/pages/Library/Communication/PR/2006/119.shtml

Jonathan Phelan, head of retail enforcement at the FSA, said:
"Cold calling potential customers for mortgage business is against our rules and firms operating in the industry should be aware of this. This is the first time we have taken steps against a firm for undertaking this activity and we will continue to monitor the market for instances of cold calling. Management is responsible for ensuring that firms comply with our rules and we will act where we find breaches.

http://www.fsa.gov.uk/pages/Doing/small_firms/mortgage/faqs/mcob.shtml#finproms

I get some of my business through cold-calling and have heard you do not allow this: why?


We think that cold-calling can expose consumers to high pressure sales tactics which mean that they end up with an inappropriate or over-expensive product (or service). Our financial promotion rules therefore ban unsolicited real-time promotions (cold calling) unless there is a pre-existing customer relationship through which the consumer expects to receive such promotions. This carries forward an approach we first set out in our Consultation Paper CP98, which respondents broadly supported.
Our rules allow you to continue to use legitimate lead generation techniques, such as consumer questionnaires, providing consumers clearly understand how their data is being used and agree to be approached by a mortgage firm.

Here is the mortgage handbook http://www.fsa.gov.uk/pubs/handbook/keyrules_mhr.pdf

john3:16

Register with TPS if you want to avoid 'cold calls' and write to the FSA and complain if you get a call from *anyone* who tries to discuss mortgage products without your expressed consent.

I suspect AWD follow the rules else they would have been publicly reprimanded given their size???