IFA (Independent)
Speed Of Response: Time of call: 10.30am. Three rings and through to one of the senior partners. 5/5
Telephone Manner: Friendly and keen to help. 5/5
Relevant Qualifications: Certificate in mortgage advice and practice. 3/5
Payment Method: If the mortgage is more than £100,000 then there would be no charge as the firm would be reimbursed by the mortgage provider, but if it is less then there would be a minimum one-off charge of £500. 4/5
Guidance Given: He told the shopper that a flexible mortgage would suit his needs if he was expecting to be able to overpay from time to time, and if he had savings sufficient to make use of an offset mortgage. 4/5
Knowledge: He clearly knew what he was talking about, explaining the variable interest rate nature of the flexible mortgage, the wide variety of such mortgages that were currently available, and the use of offset mortgages in certain situations. 4/5
Email/Web Presence: www.thompson-jenner.co.uk
pdalley@tjfs.co.uk 5/5
Verdict: Very knowledgeable. He explained the issues involved very clearly, together with spelling out the downside of flexible mortgages.
30/35
Foresight Financial Planning
Victory House Dean Clarke Gardens, Exeter EX2 4AA
Speed Of Response: Time of call: 10.40am. Two rings and through to one of the partners. 5/5
Telephone Manner: Friendly and keen to help. 5/5
Relevant Qualifications: Certificate in mortgage advice and practice. 3/5
Payment Method: If the mortgage was more than £100,000 then there would be no charge, but if it is less there would be a minimum one-off charge of £200. 5/5
Guidance Given: He said it would be necessary to go through the shopper’s financial position to assess whether a flexible mortgage would be better for the shopper than a fixed-rate deal. The adviser also highlighted that an offset mortgage would be useful if the shopper felt that he would wish to overpay occasionally. 4/5
Knowledge: He explained the variable rate nature of the flexible mortgage, and the uses of offset mortgages in certain situations, particularly for those who see their income varying from time to time 4/5
Email/Web Presence: www.foresight-ltd.co.uk
info@foresight-ltd.co.uk 5/5
Verdict: Engaging. He did not try to sell the shopper anything that he did not want, and was highly knowledgeable.
31/35
Shipman Financial Planning
1 Barnfield Crescent, Exeter EX1 1QY
Speed Of Response: Time of call: 10.45am. Three rings and straight through to one of the partners. 5/5
Telephone Manner: Helpful and friendly. 5/5
Relevant Qualifications: Certificate in mortgage advice and practice. 3/5
Payment Method: Again, if the mortgage was more than £100,000 then there would be no charge nothing, but if it was less there would be a charge from £200 to £500. 5/5
Guidance Given: He suggested a face-to-face meeting to assess the entire financial position, but in the interim he highlighted the relative pros and cons of flexible mortgages. In particular he underlined that these might be especially useful for if the shopper was uncertain about income for the course of the mortgage term. 3/5
Knowledge: He was very up to date with the latest flexible mortgage offerings from a wide range of providers. 3/5
Email/Web Presence: www.shipmanfp.co.uk
info@shipmanfp.co.uk 5/5
Verdict: Provided a very balanced view of the benefits and drawbacks of flexible mortgages in a very straightforward fashion.
29/35
Provider: Santander
Speed Of Response: Time of call: 10.50am. Immediately connected to a menu of options, then to a call centre representative who was unqualified. Another five minutes and finally through to someone who had a certificate in mortgage advice and practice. 2/5
Telephone Manner: Friendly, once the shopper had got through. 4/5
Relevant Qualifications: Certificate in mortgage advice and practice. 3/5
Payment Method: A £495 booking fee initially, but if a mortgage was agreed then £250 cash back. 4/5
Guidance Given: The person ran through all the basics on the relative upsides and downsides of a flexible mortgage in depth. After this the shopper would have to run through the same things again with the finance department to obtain an in-principle agreement to make a mortgage offer. The best deal was a flexible rate of 3.59 per cent with a loan-to-value ration of 75 per cent or less. 3/5
Knowledge: Given the relatively unpropitious start of the entire encounter, the person who finally dealt with the query was extremely up to speed. 4/5
Email/Web Presence: www.santander.co.uk 4/5
Verdict: Provided a very balanced view of the benefits and drawbacks of flexible mortgages in a straightforward way, and more specific details on a range of offerings from Santander.
24/35
