Independent Financial Adviser

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Thursday 4 August 2005 2.42pm
Hello you all...

I was wondering if any of you, or if you know any IFA that I could talk to? Free if possible as am skint!

I have some problems with my mortgage and wanted some advice.

Thursday 4 August 2005 8.19pm
I really don't think you want an IFA - they advise you about how best to invest your millions.

You might however want to go to the Citizens' Advice Bureau if, as it sounds, you are in trouble.
Friday 5 August 2005 6.35am
Not wanting to make any assumptions about why you're asking the question of course, but there are two very useful pages on the Shelter web site addressing two very common issues facing mortgage payers:

Endowment Shortfall

Mortgage Arrears

The Motley Fool web site is awash with financial advice as well, covering almost every eventuality, but aimed largely at those who want to save and invest their own way to better cirumstances:

Also worth a look (not least because they're free and not trying to push you into expensive and inappropriate debt consolidation loans):
The Consumer Credit Counselling Service 0800 138 1111

National Debtline 0808 808 4000

Even if you're just taking precautionary measures, it's worth getting all the information now so you are in a position to plan your way to comfort...

Edited 1 times. Last edit at 5 August 2005 6.36am by markandjoan.
Friday 5 August 2005 2.07pm
The Mapmaker,
though it may be your own experience, it's non-sense to suggest that all IFAs are only interested in those with millions to spare. However, if Lolo wishes to track an IFA down it is likely that only the first consultation will be free and subsequent advice will be based on an hourly fee or commission. It is difficult to find a truly 'independent' advisor who will research the whole market for the best mortgage deals - do some research on It may also be worthwhile having a look at and checking out the mortgage info offered there.
Monday 8 August 2005 5.46pm
Sorry Janefs if my irony was missed on you. It is fairly obvious that Lolo has no millions, but instead a negative money problem.
Tuesday 9 August 2005 9.30am
Thanks guys, I don't have millions, I so wish!

Just problems with my mortgage, I was made redundant last year and had a spell of financial problems and couldn't afford to pay my mortgage.

Now am back in full time and permanent employment and paying my arrears back , will finish in October.

Then I want to remortgage but not sure if because i went into problems any bank will want to have me now.

But i guess until I clear my arrears no bank will consider having me.

Tuesday 9 August 2005 10.37am
>But i guess until I clear my arrears no bank will consider having me.

I wouldn't bet on it. I'm sure many banks would love to have your arrears as well as your mortgage. If you're in full time employment, then what more could they ask for?

I suggest you visit John Charcol on 0800 71 81 91 or some other 'independant' mortgage broker and talk to them.
Tuesday 9 August 2005 1.35pm
but they charge you, dont they?

am skint! can't afford to pay the IFA fees!
Tuesday 9 August 2005 1.45pm
Independent Financial Adviser is an oxymoron.
Tuesday 9 August 2005 2.01pm
John Charcol won't. They will arrange you a mortgage, and then charge you once the new mortgage is in place. See their website:
'During your discussions with an adviser, you will discuss and agree the level and type of remuneration that John Charcol should receive up to 1.5%. This is only payable if you choose to go ahead and arrange your mortgage with us. If you decide not to proceed, or other circumstances arise where your mortgage application is unsuccessful, you will not be charged a penny for the work carried out on your behalf. So importantly, you are free to meet an adviser for initial discussions on an obligation-free basis.'

So, I suggest you give them a call and go for a meeting. They'll be able to make suggestions to you. You can then probably go directly to the relevant lender and save their fees.

Before you do that, I suggest you give your own mortgage company a call. It will cost you 1,000 or so to move your mortgage. You may be able to remortgage through them instead, and you'll save most of that 1,000.
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