Advice needed; Buying a property - mortage is AIP and now Connells want to introduce

edited 30 November -1 at 1:00AM in Mortgages & Endowments
25 replies 9.3K views
2

Replies

  • paradoxiaparadoxia Forumite
    80 Posts
    What else will they try and sell me .... If I say I have buildings, contents and life what else will they try and sell me?
  • toonfishtoonfish Forumite
    1.3K Posts
    paradoxia wrote: »
    What else will they try and sell me .... If I say I have buildings, contents and life what else will they try and sell me?

    a referral to their solicitor, accident and sickness, critical illness?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



  • paradoxiaparadoxia Forumite
    80 Posts
    Got my own solicitor - not interested in any other type of insurance work takes care of that ;-)
  • homer_j_3homer_j_3 Forumite
    3.3K Posts
    can I just ask a question to toonfish and leon?

    Why should the OP beware of the advisor selling mortgage protection?

    Surely if the client does not have these then there is a very good reason why they should have some form of protection. If the quotes given are expensive or is unsure, surely they can shop around?

    Im not a fan of countrywide and don't know connells as well as Andy but putting aside the "who is advising" part, I do not believe that mortgage protection should be so dismissed in this way, if there is a need - to which you do not know.

    I just hope the OP hasn't made their decision not to take out protection for critical illness or income protection based on the comments made here, especially as they are increasing their debt and ultimateliability.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • toonfishtoonfish Forumite
    1.3K Posts
    homer I agree with the need for protection, and as stated earlier have no idea about Connells. I do know that countrywide "customers" always seem to end up with Friends Provident policies with a 25% loading on the premium.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



  • Poppy9Poppy9 Forumite
    18.8K Posts
    Part of the Furniture 10,000 Posts Combo Breaker
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    paradoxia wrote: »
    What else will they try and sell me .... If I say I have buildings, contents and life what else will they try and sell me?

    A full financial health check:rolleyes:

    They might also offer you advice about savings for you, your children, your next door neighbour, your granny etc.:D
    :) ~Laugh and the world laughs with you, weep and you weep alone.~:)
  • Poppy9Poppy9 Forumite
    18.8K Posts
    Part of the Furniture 10,000 Posts Combo Breaker
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    homer_j8 wrote:
    can I just ask a question to toonfish and leon?

    Why should the OP beware of the advisor selling mortgage protection?
    Because it has a reputation for being expensive and full of loopholes which will stop it paying out. Same with critical illness cover. Sods law I would get the one thing it didn't cover:rolleyes:
    :) ~Laugh and the world laughs with you, weep and you weep alone.~:)
  • homer_j_3homer_j_3 Forumite
    3.3K Posts
    i presume because of the enhanced commission the choose to take as a company.

    It just winds me up when people are so dismissive of protection or that we as advisors are just trying to flog expensive add-ons.

    I didn't think that you would not see a benefit in it, it was just how I perceived the comments and how it may have been perceived by others.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • toonfishtoonfish Forumite
    1.3K Posts
    homer_j wrote: »
    i presume because of the enhanced commission the choose to take as a company.

    It just winds me up when people are so dismissive of protection or that we as advisors are just trying to flog expensive add-ons.

    I didn't think that you would not see a benefit in it, it was just how I perceived the comments and how it may have been perceived by others.

    sorry mate, I agree with you that discussing protection is crucial, but see how my previous comment might read.

    They get enhanced commission and also reduced clawback periods (2 years) so hence the higher premiums.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



  • Mr_helpfulMr_helpful Forumite
    3.2K Posts
    I think it would be a good Idea if Paradoxia thought about how well his work life assurance would take care of things. Most people get a nasty shock when they look at work insurances. Most life assurance is at best 4 salary. Hardly going to keep the missus an luxury is it.
    I like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)
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