Mortgage Advice

[Luci]

Wisdom of the TEF...need some help

This might seem like a silly question to some of you but where is the best place to obtain free mortgage advice?

Banks are an obvious one but there seem to be loads of independent advisors/services out there and quite honestly, I haven't a clue where to start or where to obtain the best information.  I've done all the online questionnaires, calculators etc, but its not specific enough.  

Its not actually for buying in Swindon but not sure if that makes a difference?

[LucienSanchez]

Castles do it for free... i didn't have to even look at houses or even discuss the actual buying bit.

[Samdy Gray]

An independent adviser. Banks can only sell to you from their own product range, which may not be the best available on the market or the most suitable for your needs.

You can find an adviser at http://www.unbiased.co.uk/

[Luci]

Thx - just want someone decent and professional, not a kid straight out of college ideally.

[Samdy Gray]

A kid straight out of college is unlikely to be qualified to give you mortgage advice.

Be aware that if you're taking on a mortgage, you might want to look at life cover, critical illness cover and income protection too. If you go to an IFA they'll be able to sort the whole shebang, including the mortgage.

[Luci]

You know what I mean - basically want someone with some serious experience!

Cheers for the tip though - is an IFA free or is it a service that commands a fee?

[Samdy Gray]

To truly be an IFA, they have to be a fee charging firm (it'll be set out in their terms of business).

In reality, for fairly simple financial planning like you're after, most IFA's will be happy to not charge a fee and just take the commission from the product provider.

[Luci]

Cool - I did search for the commission option as opposed to fee so will see what that comes up with!

[woolster]

PM me your email add, i have a finacial advisor who is exellent, knows his stuff and is a town fan

[leefer]

A kid straight out of college is unlikely to be qualified to give you mortgage advice.

Be aware that if you're taking on a mortgage, you might want to look at life cover, critical illness cover and income protection too. If you go to an IFA they'll be able to sort the whole shebang, including the mortgage.

You wont get a mortgage without the majority of that anyway.
My advice Luci is to go into the building society's and ask them if you can have a chat with the advisor/,most will only be to pleased to answer any questions you have free of charge,you may get a polite refusal from some,but most will answer the questions that are worrying you,even if they know that you will not be getting a mortgage with them.
Probably mean an appointment and them giving you the hard sell,but at least you will get the advice,asking costs nothing.

Good luck with it and your impending move.

[Ardiles]

Whenever I've seen a mortgage broker, asking them how their earn their fee is always one of the first questions I've asked.  Important to understand the broker's/adviser's incentives from the outset.

And isn't Phil_S in that line of work?

[Samdy Gray]

You wont get a mortgage without the majority of that anyway.

You'd be surprised. A lot don't even insist on proving you have valid building insurance anymore.

Speaking to an adviser in a bank/building society is an option, but they'll only have been trained to provide advice on the range of (very limited) products that they sell.

[woolster]

Wisdom of the TEF...need some help

This might seem like a silly question to some of you but where is the best place to obtain free mortgage advice?

Banks are an obvious one but there seem to be loads of independent advisors/services out there and quite honestly, I haven't a clue where to start or where to obtain the best information.  I've done all the online questionnaires, calculators etc, but its not specific enough.  

Its not actually for buying in Swindon but not sure if that makes a difference?

did you get my email

[Gazza's Fat Mate]

1. Luci if your the same lass I helped with the horse claim PM me and I'll put your in touch with the firm that handle all moneyfor my firm.

2. Don't bother with critical illness cover and income protection complete and utter waste of money the amount of clauses in the insurance policy is amazing. If the insusers employ a decent claims handler (like me) then they can wriggle out of most claims, trust me. However I would point out its not what I do but I have given insurance contract/law advice to claims handlers who do work in that field.

[Luci]

Thanks all!

GFM - Sadly, I don't own a horse, thats the other Lucy