Mortgages  

Mystery shopper North West London

This week the mystery shopper visits North West London. He is seeking mortgage advice on behalf of his mother who wants to lower her monthly mortgage repayments after accepting a lower paid part-time role. She is 53, earns £30,000 and has defaulted on her mortgage repayments on a number of occasions in the past. Her property is worth an estimated £650,000 and the outstanding balance of her mortgage is £140,000.

Adviser (Independent):

Positive Solutions

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75, Prince Albert Road,

London NW8 7SA

Speed of response: Time of call: 4.07pm. Answered after two rings. 5/5

Telephone manner:

Attentive, polite, friendly and professional. 5/5

Relevant qualifications:

Level four diploma. 5/5

Payment method:

Commission. 5/5

Guidance given:

The adviser kicked off the proceedings by quizzing the shopper on the value of his mother’s property, the outstanding balance on the mortgage, her salary and the number of past defaults. She said she would need more information on the shopper’s mother situation, but warned that she is likely to have difficulty in securing a remortgage product because of the history of defaults. She claimed most lenders would not consider an application from an individual who has defaulted within 24 months. 4/5

Knowledge:

The adviser displayed good knowledge of the topic. 4/5

Email/web presence:

samhosseinian@thinkpositive.co.uk

www.thinkpositive.com 5/5

Verdict:

The shopper was impressed by the adviser’s approach to the conversation. The adviser was candid with the shopper on his mother’s chances of securing a remortgage product given her history of default payments.

33/35

Adviser (Independent):

Prudell Limited T/A Greene & Co

Goldney Place, 63-65 Goldney Road,

London W9 2AR

Speed of response: Time of call: 4.23pm. Answered after two rings. 5/5

Telephone manner:

Informative and helpful. 4/5

Relevant qualifications:

Level four diploma. 5/5

Payment method:

Commission and fixed fee amounting to £795. 5/5

Guidance given:

The adviser questioned the shopper on the value of his mother’s property, the outstanding balance of the mortgage and her reasons for accepting a part time role. He added that the shopper’s mother history of defaults does not bode well on her chances of securing a remortgage product. He suggested that the shopper obtain and email over a copy of his mother’s credit history at the first instance. 4/5

Knowledge:

Very good. The adviser informed the shopper of a website where his mother could obtain details of her credit history. 5/5

Email/web presence:

vaughan@greenefs.co.uk

www.greenefs.co.uk 5/5

Verdict:

The adviser was concise and delivered helpful information on the topic.

33/35

Adviser (Independent):

KDW Independent Financial Planning

Grosvenor Gardens, Temple Fortune,

London NW11 0HG

Speed of response: Time of call: 4.36pm. The call was answered by an automated system. The shopper was transferred to a representative within 20 seconds. 5/5

Telephone manner:

Polite, friendly and professional. 5/5

Relevant qualifications:

Level four diploma. 5/5

Payment method:

£499. 5/5

Guidance given:

The adviser asked the shopper if his mother had spoken with her current provider, and said this should be the first port of call. When securing a remortgage product, he explained the options of providers would be limited because of her history of defaults. The adviser said that he would need to look at the shopper’s mother credit history to determine whether or not the case is a non-starter. 5/5