Mortgage Broker sought/recommended MEGATHREAD

[Eme1 10]

Hi all,

 

I am also looking for a mortgage broker -Moneysavingexpert site recommended using one so exploring. My own bank locks us in for 4 years at 6.19% and wondering if there were better deals to be had before we commit.

 

Any advice much appreciated for a first time buyer!

 

Many thanks,

Eme

[More4loans 10]

Chris Hunt at Mortgage Talk is very good and they are whole of market as well. Give him a call on 01709 381035

[Jeffrey Shaw 90]

Best to ensure that any broker used is an FSA or member of an equivalent professional trade body (with indemnity insurance).

[utd we stand 10]

If you require a Buy to Let mortgage try these guys. Just used them myself and can't fault them at all.

 

investletfinance

0114 321 6580

[foggy72 10]

I would really recommend James Mace at JPM financial, he sorted me out with a mortgage and everything else what goes with it. It didn't cost me a penny as he works on commision and he looked at whichever company was offering me the best deal rather than the one which he was going to get most money out of.

 

A very friendly and approachable bloke who doesn't mind going that extra mile to help you out - and no I'm not a relative or work for him!

 

ring him on 01709 910001

[linzday 10]

I would really recommend James Mace at JPM financial, he sorted me out with a mortgage and everything else what goes with it. It didn't cost me a penny as he works on commision and he looked at whichever company was offering me the best deal rather than the one which he was going to get most money out of.

 

A very friendly and approachable bloke who doesn't mind going that extra mile to help you out - and no I'm not a relative or work for him!

 

ring him on 01709 910001

 

 

That's not strictly correct that it didn't cost you a penny. Yes an adviser will charge you either an upfront fee or be paid via commission from the lender/insurance company. However, the commission is actually paid for out of your monthly premium that you pay to the insurer. If you have recently taken out life insurance for example, look closely at your quote or cancellation notice document, this will give you details of the amount of commission the company are paying your adviser. This is paid for from your premium, occasionally advisers will "give up" or sacrifice some or all of their commission, this in turn will reduce your premium. So for example if your adviser said I'll give up 50% of my commission, your premium would reduce considerably because the insurer has to pay out less in commission so charges you less.

Also, if you cancel your policy within the first 3 or 4 years, the insurer will reclaim a portion of the commission they were paid, as they are no longer getting your premium to cover the cost of the commission. So if an adviser was paid £1000 and you cancelled your policy after one month, the FA would have to pay pretty much all of that commission back. If you cancelled your policy after 3 and a half years, the might have to pay back £250 etc

Financial advisers should tell you this, they are legally bound to tell you how much commission they are getting paid for submitting the business to that particular company, however they often skate over it quickly and say, oh yeah, the company will pay me a commission of £500 for giving them this business and make out as though they just get paid it - they don't, you are paying for it!! Which is why some advisers prefer to charge a single upfront fee, so there is no grey area where you could say you didn't realise you we're paying their commission.

You have to do which ever works best for you, not everyone these days has several hundred pounds to pay out as an upfront fee so prefer to pay it included in the monthly premium.

 

---------- Post added 18-12-2012 at 19:24 ----------

 

And just to add, any financial adviser worth their penny, would find the product most suitable, and not just who is paying the highest commission rates xx

[Jeffrey Shaw 90]

And just to add, any financial adviser worth their penny, would find the product most suitable, and not just who is paying the highest commission rates

That's the difference between a whole-market independent broker (FSA-standard) and one tied to a single source (or to only a few).

[OneSpeed 10]

Hi All,

 

All suggestions gratefully received. Just need some advice from someone who's not an idiot and who knows their stuff and who (unlikely I know) will not just try and sell me their latest product regardless of what i actually need.

 

Thanks

[Mr Peacock 10]

I can recommend Paul from Prestige Mortgages in Sheffield. He helped me with my remortgage and really listened to what I wanted.

 

His contact details are...

 

[email protected]

 

Tel : 019095471222.

 

Hope this helps

 

Steve

[More4loans 10]

Whichever mortgage broker you choose, make sure they are 'whole of market' so they have access to every mortgage product available to intermediaries. Also make sure they tell you at the outset whether they charge a fee and if so how much that will be.

 

Some will charge a fee on completion, others will take a small commission from the lender and rely on commission from selling you other related products such as buildings insurance, life cover etc.

 

There remain a few brokers that still want to charge up front fees before they do any research at all. As you'd expect avoid these at all costs, as any broker worth their salt would be happy to get paid once they've done the work for you.

[Jeffrey Shaw 90]

And make sure that the Broker is an IFA or otherwise professionally accredited, with indemnity insurance cover.

[amron 10]

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