Time of call: 12.52pm. Answered after one ring. 5/5
Telephone manner: Very friendly, confident and authoritative. 5/5
Relevant qualification: CII mortgage-specific qualification. 5/5
Payment method: First meeting free. But one-off payment of £350 for doing the business. 5/5
Guidance Given: The adviser immediately comprehended the situation, and knew that as a self-employed person things would be difficult if the shopper did not have the right information to present to lenders. She knew which forms the shopper needed to prove income, and also described the use of credit reports by the lenders. She explained that lenders like borrowers to use credit cards as that shows they have a line of credit. 5/5
Knowledge: Absolutely on top of her game. 5/5
Email: libbystokes@thinkpositive.co.uk 3/5
Verdict: Very impressive. She gave the shopper a clear picture of what he might expect and what he should do even before talking about coming in to see her. She is one of those advisers who prove it is worth paying the fee.
33/35
Adviser (Independent)
Baigrie Davies, 25 City Road, London EC1Y 1AA.
Speed of response: Time of call: 1.27pm. Two rings to receptionist who quickly put shopper through. 5/5
Telephone manner: Friendly but quick-fire talker. 4/5
Relevant qualifications: Adviser said he was a broker with an FCA-recognised qualification. He said that everyone in the company was either certified or chartered. 4/5
Payment method: First visit free. Fee thereafter depends on what level of fee adviser gets from bank. If they get £1,000, client pays nothing, but if less the client makes up the difference. 5/5
Guidance given: Rapid but still relatively thorough. Adviser pointed out that as a self-employed person, the shopper needed to show profit after deductions but before tax – the net profit figure is the crucial one. He questioned the shopper about credit card use; about whether he had ever defaulted and his debt repayment record. 4/5
Knowledge: Adviser knew his stuff, but sounded like he probably needed to keep such chats short and to the point. 4/5
Email: craig.taggart@baigriedavies.co.uk
www.baigriedavies.co.uk 5/5
Verdict: Friendly but business-like tone may not suit people who want a lot of hand-holding. However, that may be appropriate for the market he is in.
31/35
Adviser (Independent)
Instant Mortgages Ltd, 376 High Road, Woodford Green, London IG8 0XQ.
Speed of Response: Time of call: 1.54pm. Answered after three rings. Quickly put through by receptionist. 5/5
Telephone manner: Very friendly, bright and positive. 5/5
Relevant Qualifications: Broker and compliance officer for company. He said he had done financial planning certificates one, two and three, and that all eight brokers in the company have to have Certificate in Mortgage Advice Practice one, two and three as a minimum.5/5
Payment method: First visit free. Fee only payable “if we do what we say” and complete loan. Then for loans of up to £150,000 there is a £500 fee, and £250 is charged for loans of more than that. 5/5
Guidance given: Adviser rapidly got details from the shopper that would help him assess the case. He was very thorough asking about income and debts. He explained the procedure clearly, and emphasised the difference getting a larger deposit would make to the shopper’s case. He pointed out just how much the difference might be in getting an extra £5,000 for the deposit, but emphasised that even without this it is possible, reassuring the shopper at every step. He also mentioned the SA302 form from the accountant, showing income less deductions. 5/5
Knowledge: Adviser knew the business and explained it in terms most ordinary people would understand. 5/5
Email/web presence: paul@instant-mortgages.com.
www.instant-mortgages.com 5/5
Verdict: Considering the large amount of business his brokerage transacts each week, adviser was very thorough, and reassured the shopper that he was not an impossible case.
35/35
Provider
TSB (call centre)
Speed of response: Time of call: 2.56pm. Two rings, then through to menu. Another couple of rings and the shopper was speaking with someone. 4/5
Telephone manner: Very friendly. 5/5
Qualifications: The assistant said he could give out general information but not advice. 0/5
Payment method: The assistant said that he knew of no fees associated with mortgages such as a product fee or advisory fee. 5/5
Guidance given: The assistant stated essential requirements as a self-employed person, such as an SA302 statement from tax office as proof of net income, as well as need for shopper to have at least three years’ accounts.
He said TSB can give mortgages to the self-employed of up to 90 per cent loan-to-value as long as the house was not a newbuild. He pointed to the types of mortgages provided: fixed, repayment and interest-only, and asked if shopper had a repayment vehicle if he wanted the latter.
He said that the advice would be provided by a qualified mortgage adviser who would take shopper through the process. 3/5
Knowledge: A basic information service, but the assistant clearly understood what was required. 3/5
Email/web presence: www.tsb.co.uk 3/5
Verdict: Good, comprehensive basic information, delivered in a kind and friendly tone.
23/35
