Beavis Posted July 5, 2007 Share Posted July 5, 2007 I am in the current process of buying a new house and obviously i am dealing with solicitors and a mortgage broker. Is one of the qualifications for doing either of these jobs, is to be totally f**king useless and to make enless stupid mistakes which results in me constantly ringing them to correct them on their errors!! And with the fees they charge as well. All morning i have been chasing people up telling them of their mistakes. Wrong interest rate....wrong value on the house.....paid for something i should not have...... the list goes on and on. Dumb Asses Ps This is not an attack on Sarnie or Digsy before you think it is!! Though comments from these guys please!! Quote Link to comment Share on other sites More sharing options...
Sarnie Posted July 5, 2007 Share Posted July 5, 2007 Should of came to an expert The key to me doing well is constant communication between myself and the client, mistakes happen but as long as your proactive and efficient its usually good. People like to know that things are being done and that the people doing it know what they are doing Quote Link to comment Share on other sites More sharing options...
H5 Posted July 5, 2007 Share Posted July 5, 2007 I am in the current process of buying a new house and obviously i am dealing with solicitors and a mortgage broker. Is one of the qualifications for doing either of these jobs, is to be totally f**king useless and to make enless stupid mistakes which results in me constantly ringing them to correct them on their errors!! And with the fees they charge as well. All morning i have been chasing people up telling them of their mistakes. Wrong interest rate....wrong value on the house.....paid for something i should not have...... the list goes on and on. Dumb Asses Ps This is not an attack on Sarnie or Digsy before you think it is!! Though comments from these guys please!! That's been my experience to date! Am out of my discount period and the other half of the deal is fixed. But they won't let me have another product or merge it into one product resulting in me being on their standard variable rate. Which is roughly equal to f@7king expensive. Oh, and it wipes out the benefit of the discount in the 6 months I'm stuck. Well constructed Mr Mortgage advisor! Quote Link to comment Share on other sites More sharing options...
M13KYF Posted July 5, 2007 Share Posted July 5, 2007 we used these guys instead of solicitors. They were absouletly fantastic. They rang every day with a progress report and really chased the whole thing through. Even reported the guy's solicitor who we were buying off for not returning phone calls within a specified time. http://www.enact-online.co.uk/ Quote Link to comment Share on other sites More sharing options...
martinmac Posted July 5, 2007 Share Posted July 5, 2007 I have bought and sold many times in the UK as well as abroad. The one thing that reains constant is that as the client, you want it done yesterday. I have also conveyanced one house myself. As with buying cars or anything the best recommendation is from other customers. At least in this country there are strict codes so at least you are covered in case of major mistakes. Try buying in Spain, thats real fun. Longest sale I had was 6 months but that mainly due to the buyers lender running around with the goalposts as he was self employed. The one that really amuses me is asking for the balance due to the seller on the key day, apparently solicitors are too busy to sign cheques quickly. Best of luck and I am sure some more qualified comments will follow Quote Link to comment Share on other sites More sharing options...
Sarnie Posted July 5, 2007 Share Posted July 5, 2007 I am in the current process of buying a new house and obviously i am dealing with solicitors and a mortgage broker. Is one of the qualifications for doing either of these jobs, is to be totally f**king useless and to make enless stupid mistakes which results in me constantly ringing them to correct them on their errors!! And with the fees they charge as well. All morning i have been chasing people up telling them of their mistakes. Wrong interest rate....wrong value on the house.....paid for something i should not have...... the list goes on and on. Dumb Asses Ps This is not an attack on Sarnie or Digsy before you think it is!! Though comments from these guys please!! That's been my experience to date! Am out of my discount period and the other half of the deal is fixed. But they won't let me have another product or merge it into one product resulting in me being on their standard variable rate. Which is roughly equal to f@7king expensive. Oh, and it wipes out the benefit of the discount in the 6 months I'm stuck. Well constructed Mr Mortgage advisor! They should let you move in onto another product but the problem you will have is that your tie in periods will never be in sync unless you stay on the SVR till untill your fixed rate ends on your sub account. Quote Link to comment Share on other sites More sharing options...
Beavis Posted July 5, 2007 Author Share Posted July 5, 2007 When i went to see the brill mortgage advisor and sorted the mortgage deal i pointed out to him that part of the deal was free legals upto £1200, he told me to ignore that as that was in correct. So i took his advice and sorted my own solicitor. Guess what came in the post this morning? Yep a letter from my free legals solicitor on behalf of my mortgage provider. FFS Quote Link to comment Share on other sites More sharing options...
Guest prescience Posted July 5, 2007 Share Posted July 5, 2007 I am in the current process of buying a new house and obviously i am dealing with solicitors and a mortgage broker. Is one of the qualifications for doing either of these jobs, is to be totally f**king useless and to make enless stupid mistakes which results in me constantly ringing them to correct them on their errors!! And with the fees they charge as well. All morning i have been chasing people up telling them of their mistakes. Wrong interest rate....wrong value on the house.....paid for something i should not have...... the list goes on and on. Dumb Asses Ps This is not an attack on Sarnie or Digsy before you think it is!! Though comments from these guys please!! That's been my experience to date! Am out of my discount period and the other half of the deal is fixed. But they won't let me have another product or merge it into one product resulting in me being on their standard variable rate. Which is roughly equal to f@7king expensive. Oh, and it wipes out the benefit of the discount in the 6 months I'm stuck. Well constructed Mr Mortgage advisor! And presumably the thing stopping you from sweeping both parts up and going with another provider is that you will pay a penalty (to your existing supplier) for ending your deal early - the amount increasing the nearer you get to the end of the discounted term? Quote Link to comment Share on other sites More sharing options...
Guest prescience Posted July 5, 2007 Share Posted July 5, 2007 I have also conveyanced one house myself. How difficult was it to sort the information for the searches - is most of this available on the internet now from local authority websites? Quote Link to comment Share on other sites More sharing options...
stuey Posted July 5, 2007 Share Posted July 5, 2007 Should of came to an expert The key to me doing well is constant communication between myself and the client, mistakes happen but as long as your proactive and efficient its usually good. People like to know that things are being done and that the people doing it know what they are doing your dead right you should use an expert............. do you know one sarnie........... Quote Link to comment Share on other sites More sharing options...
Sarnie Posted July 5, 2007 Share Posted July 5, 2007 When i went to see the brill mortgage advisor and sorted the mortgage deal i pointed out to him that part of the deal was free legals upto £1200, he told me to ignore that as that was in correct. So i took his advice and sorted my own solicitor. Guess what came in the post this morning? Yep a letter from my free legals solicitor on behalf of my mortgage provider. FFS Who is the mortgage with as a lot companies offer identicle products, one will have free legals one will pay cashback of about £250 towards the cost of using your own legals Quote Link to comment Share on other sites More sharing options...
Digsy Posted July 5, 2007 Share Posted July 5, 2007 Don't want to comment about mortgage advisors but there are plenty of very poor conveyancing solicitors about. This area of the legal profession has been dumbed down in recent years as firms have screwed each other down and down on fees so that for most conveyancing is only viable when done in bulk by very low level staff, factory style. The impact upon the level of expertise and service clients get is tangible. Solicitors are like any other service industry - if you don't go on a recommendation you take your chances. My firm doesn't do conveyancing but if anyone wants a recommendation from me by PM I'll happily oblige - the firm I would recommend is in Liverpool but there is no need for local solicitors these days unless you want to see the whites of their eyes! Quote Link to comment Share on other sites More sharing options...
Beavis Posted July 5, 2007 Author Share Posted July 5, 2007 When i went to see the brill mortgage advisor and sorted the mortgage deal i pointed out to him that part of the deal was free legals upto £1200, he told me to ignore that as that was in correct. So i took his advice and sorted my own solicitor. Guess what came in the post this morning? Yep a letter from my free legals solicitor on behalf of my mortgage provider. FFS Who is the mortgage with as a lot companies offer identicle products, one will have free legals one will pay cashback of about £250 towards the cost of using your own legals Its with Abbey Quote Link to comment Share on other sites More sharing options...
H5 Posted July 5, 2007 Share Posted July 5, 2007 I am in the current process of buying a new house and obviously i am dealing with solicitors and a mortgage broker. Is one of the qualifications for doing either of these jobs, is to be totally f**king useless and to make enless stupid mistakes which results in me constantly ringing them to correct them on their errors!! And with the fees they charge as well. All morning i have been chasing people up telling them of their mistakes. Wrong interest rate....wrong value on the house.....paid for something i should not have...... the list goes on and on. Dumb Asses Ps This is not an attack on Sarnie or Digsy before you think it is!! Though comments from these guys please!! That's been my experience to date! Am out of my discount period and the other half of the deal is fixed. But they won't let me have another product or merge it into one product resulting in me being on their standard variable rate. Which is roughly equal to f@7king expensive. Oh, and it wipes out the benefit of the discount in the 6 months I'm stuck. Well constructed Mr Mortgage advisor! And presumably the thing stopping you from sweeping both parts up and going with another provider is that you will pay a penalty (to your existing supplier) for ending your deal early - the amount increasing the nearer you get to the end of the discounted term? That's the one, except it's a fixed amount for the penalty of 3% of amount borrowed. Why this wasn't picked up, I do not know! And Sarnie, what you say is completely right. So in a nutshell - screwed. Quote Link to comment Share on other sites More sharing options...
Dan Posted July 5, 2007 Share Posted July 5, 2007 Is one of the qualifications for doing either of these jobs, is to be totally f**king useless and to make enless stupid mistakes which results in me constantly ringing them to correct them on their errors!! And with the fees they charge as well. I am FSA qualified and used to work as a financial advisor. My experience of this industry is that a broker will sell you the product that is best for him, in terms of commission and bonuses, and not the product that is best for you. We used to get incentivised promotions through from certain companies for selling one particular product over another so of course if your interested in earning money thats the product that you push. To be honest I don't see the need to employ a middle man these days when it's so easy to shop around with the internet etc and the high street banks practically giving money away ! Quote Link to comment Share on other sites More sharing options...
Guest prescience Posted July 5, 2007 Share Posted July 5, 2007 Is one of the qualifications for doing either of these jobs, is to be totally f**king useless and to make enless stupid mistakes which results in me constantly ringing them to correct them on their errors!! And with the fees they charge as well. I am FSA qualified and used to work as a financial advisor. My experience of this industry is that a broker will sell you the product that is best for him, in terms of commission and bonuses, and not the product that is best for you. We used to get incentivised promotions through from certain companies for selling one particular product over another so of course if your interested in earning money thats the product that you push. To be honest I don't see the need to employ a middle man these days when it's so easy to shop around with the internet etc and the high street banks practically giving money away ! Dan, I made your last point recently, but sarnie did point out to be fair that he had access to a greater range of products than I (for example) could get to through say fool.co.uk and also might get a better rate (which presumably would be passed to the end-user?) But for straightforward advances with no CCJ history, reasonable mortgaged percentage of property value etc, I think the internet is hard to beat personally Quote Link to comment Share on other sites More sharing options...
Digsy Posted July 5, 2007 Share Posted July 5, 2007 Is one of the qualifications for doing either of these jobs, is to be totally f**king useless and to make enless stupid mistakes which results in me constantly ringing them to correct them on their errors!! And with the fees they charge as well. I am FSA qualified and used to work as a financial advisor. My experience of this industry is that a broker will sell you the product that is best for him, in terms of commission and bonuses, and not the product that is best for you. We used to get incentivised promotions through from certain companies for selling one particular product over another so of course if your interested in earning money thats the product that you push. To be honest I don't see the need to employ a middle man these days when it's so easy to shop around with the internet etc and the high street banks practically giving money away ! Dan, I made your last point recently, but sarnie did point out to be fair that he had access to a greater range of products than I (for example) could get to through say fool.co.uk and also might get a better rate (which presumably would be passed to the end-user?) But for straightforward advances with no CCJ history, reasonable mortgaged percentage of property value etc, I think the internet is hard to beat personally Isn't this how folk with an eye on the most competitive rates end up tied into products or with huge redemption penalties? Its like doing your own conveyancing - if you f@ck it up who do you sue? Quote Link to comment Share on other sites More sharing options...
Guest prescience Posted July 5, 2007 Share Posted July 5, 2007 Is one of the qualifications for doing either of these jobs, is to be totally f**king useless and to make enless stupid mistakes which results in me constantly ringing them to correct them on their errors!! And with the fees they charge as well. I am FSA qualified and used to work as a financial advisor. My experience of this industry is that a broker will sell you the product that is best for him, in terms of commission and bonuses, and not the product that is best for you. We used to get incentivised promotions through from certain companies for selling one particular product over another so of course if your interested in earning money thats the product that you push. To be honest I don't see the need to employ a middle man these days when it's so easy to shop around with the internet etc and the high street banks practically giving money away ! Dan, I made your last point recently, but sarnie did point out to be fair that he had access to a greater range of products than I (for example) could get to through say fool.co.uk and also might get a better rate (which presumably would be passed to the end-user?) But for straightforward advances with no CCJ history, reasonable mortgaged percentage of property value etc, I think the internet is hard to beat personally Isn't this how folk with an eye on the most competitive rates end up tied into products or with huge redemption penalties? Its like doing your own conveyancing - if you f@ck it up who do you sue? No not really, it's a starting point and you are in a better position (with no baggage or targets if you like) to make an informed decision by asking the right questions. All the site is doing is putting you in touch with a likely provider direct - and you take it from there. Quote Link to comment Share on other sites More sharing options...
Dan Posted July 5, 2007 Share Posted July 5, 2007 and also might get a better rate (which presumably would be passed to the end-user?) Or would be used to increase his commission Or is that just me being cynical... As a car dealer I sell car finance, quite a lot of it in fact. We are given a base rate by our lenders and our commission is paid on the difference between our base rate and the rate we charge our customers. So basically, the more we charge our customers the more we earn. Some customers are so naive it's only common decency that prevents us taking the pxss. When I worked at Perrys I once signed someone up at 55.9% APR which was ludicrous. Quote Link to comment Share on other sites More sharing options...
Digsy Posted July 5, 2007 Share Posted July 5, 2007 Is one of the qualifications for doing either of these jobs, is to be totally f**king useless and to make enless stupid mistakes which results in me constantly ringing them to correct them on their errors!! And with the fees they charge as well. I am FSA qualified and used to work as a financial advisor. My experience of this industry is that a broker will sell you the product that is best for him, in terms of commission and bonuses, and not the product that is best for you. We used to get incentivised promotions through from certain companies for selling one particular product over another so of course if your interested in earning money thats the product that you push. To be honest I don't see the need to employ a middle man these days when it's so easy to shop around with the internet etc and the high street banks practically giving money away ! Dan, I made your last point recently, but sarnie did point out to be fair that he had access to a greater range of products than I (for example) could get to through say fool.co.uk and also might get a better rate (which presumably would be passed to the end-user?) But for straightforward advances with no CCJ history, reasonable mortgaged percentage of property value etc, I think the internet is hard to beat personally Isn't this how folk with an eye on the most competitive rates end up tied into products or with huge redemption penalties? Its like doing your own conveyancing - if you f@ck it up who do you sue? No not really, it's a starting point and you are in a better position (with no baggage or targets if you like) to make an informed decision by asking the right questions. All the site is doing is putting you in touch with a likely provider direct - and you take it from there. That's fine for an educated man like yourself who knows what to ask. What about the average Sun-reader? Quote Link to comment Share on other sites More sharing options...
Digsy Posted July 5, 2007 Share Posted July 5, 2007 Some customers are so naive it's only common decency that prevents us taking the pxss. When I worked at Perrys I once signed someone up at 55.9% APR which was ludicrous. ...and these people will be trying to sort their own mortgages on t'internet! Quote Link to comment Share on other sites More sharing options...
Guest prescience Posted July 5, 2007 Share Posted July 5, 2007 That's fine for an educated man like yourself who knows what to ask. What about the average Sun-reader? Well based on the comments in this thread, putting yourself in the hands of a broker is no guarantee to success - quite the opposite. I know what point you're making though - devil and deep blue sea spring to mind Quote Link to comment Share on other sites More sharing options...
H5 Posted July 5, 2007 Share Posted July 5, 2007 TBH it's like any advice - mortgages, recruitment, estate agents, betting tips etc........ You make your decision off the back of it. There will be the unscrupulous, well intended, mentally challenged, able, exceptional people that offer all sorts of advice. As has been said reccommendation is often the best way and anyone wanting to build a business / reputation will work hard on that. But just the same way we try and mod our cars ourselves we'll try these things too. My best mortgage was one I bought and arranged myself. So far, I've used two mortgage advsiors, both have cause me pain. I'm a qualified bean counter so I understand the figures better than most of them do - still hasn't stopped it. Sarnie, you want some business in a couple of months?! Quote Link to comment Share on other sites More sharing options...
Sarnie Posted July 5, 2007 Share Posted July 5, 2007 Is one of the qualifications for doing either of these jobs, is to be totally f**king useless and to make enless stupid mistakes which results in me constantly ringing them to correct them on their errors!! And with the fees they charge as well. I am FSA qualified and used to work as a financial advisor. My experience of this industry is that a broker will sell you the product that is best for him, in terms of commission and bonuses, and not the product that is best for you. We used to get incentivised promotions through from certain companies for selling one particular product over another so of course if your interested in earning money thats the product that you push. To be honest I don't see the need to employ a middle man these days when it's so easy to shop around with the internet etc and the high street banks practically giving money away ! Dan, I made your last point recently, but sarnie did point out to be fair that he had access to a greater range of products than I (for example) could get to through say fool.co.uk and also might get a better rate (which presumably would be passed to the end-user?) But for straightforward advances with no CCJ history, reasonable mortgaged percentage of property value etc, I think the internet is hard to beat personally Isn't this how folk with an eye on the most competitive rates end up tied into products or with huge redemption penalties? Its like doing your own conveyancing - if you f@ck it up who do you sue? No not really, it's a starting point and you are in a better position (with no baggage or targets if you like) to make an informed decision by asking the right questions. All the site is doing is putting you in touch with a likely provider direct - and you take it from there. Yes Dorian but what your getting is tied advice. What that means is that any lender can only give information on their products and no one elses. Therefore their advice is limited. Also they will only give you the answers to the questions you ask. Legally they are not 'allowed' to advise you in anyway shape or form. If they were to give you advice then they would have to give 'whole of market' advice and would therefore 8 out of 10 times would be advising you go to another bank as they have a better product! Are they going to do that? NO. If you don't ask about something eg Is the mortgage portable? Then when you want to move house and find that you've got to pay a whopping penalty then there is no come back as they have given you an 'Information Only' service. I, on the other hand, am completely independant and can legally advise on the whole of the market and not just a range of products from one lender The internet sites are a load of tosh really too. How can a top 10 table be formed when there are over 28000 different mortgage products to choose from. Someone like Halifax will have about 800 products on their own Also if you think that these comparison sites are 'independant' then think again. The site will get a referral fee from the lenders that subscribe to be placed on their tables Quote Link to comment Share on other sites More sharing options...
Digsy Posted July 5, 2007 Share Posted July 5, 2007 That's fine for an educated man like yourself who knows what to ask. What about the average Sun-reader? Well based on the comments in this thread, putting yourself in the hands of a broker is no guarantee to success - quite the opposite. I know what point you're making though - devil and deep blue sea spring to mind Agreed. It all comes down to recommendations IMHO. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.