Mortgages  

Mystery Shopper: Exeter

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

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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