This week, the mystery shopper visits the Hertford area. After years of renting, he and his partner are looking to purchase a property for the first time. They have £50,000 in savings and a joint income of £54,000. They are seeking to buy a property in the region of £250,000.
Adviser (Independent): Myers Davison Ginger Ltd
24 The Finches,
Hertford, SG13 7TB
Speed of response: Time of call: 3.44pm. Answered after one ring. 5/5
Telephone manner:
Polite and friendly. 5/5
Relevant qualifications:
Level four diploma. 5/5.
Payment method:
The adviser said that it would be explored by his referral colleague. 4/5
Guidance given:
The adviser explained he stopped advising on mortgages before the financial crash and refers all mortgage-related enquiries to his colleague. He said this individual would conduct a fact-find to identify the most suited solution for the shopper. 2/5
Knowledge:
Difficult to gauge. The adviser admitted to no longer operating in the space. 2/5
Email/web presence:
neiljohnson@mdgmortgages.com
www.mdgifa.com
5/5
Verdict:
The adviser came across well and seemed keen to help the shopper get in contact with his referral colleague.
28/35
Adviser (Independent):
Thompson Riddle Associates Ltd
Headstart House, 39 High Street, Ware,
Hertfordshire, SG12 9BA
Speed of response: Time of call: 3.49pm. Answered after two rings. 5/5
Telephone manner:
Notably friendly and polite. 5/5
Relevant qualifications:
Advanced Certificate in Mortgage Advice. 5/5
Payment method:
£199 plus commission from lender.
5/5
Guidance given:
The first port of call would be to arrange an initial face-to-face meeting which would delve deeper into the shopper’s circumstances to find the best solution, according to the adviser. The meeting would be set up at the adviser’s expense. 3/5
Knowledge:
Again, difficult to gauge, as he wouldn’t be giving guidance until the initial meeting. 3/5
Email/web presence:
simon@themodernifa.co.uk
www.themodernifa.co.uk
5/5
Verdict:
The adviser came across exceptionally well but the shopper would have liked more on the guidance front over the phone.
31/35
Adviser (Independent):
Robinson George Financial Management
Beech House, 3 Beechwood Close,
Hertford, SG13 7HW
Speed of response: Time of call: 3.55pm. Answered after five rings. 5/5
Telephone manner:
Friendly, attentive and helpful.
5/5
Relevant qualifications:
Chartered financial planner.
5/5
Payment method:
Up to £1,500 – covered by a flat fee and provider commission.
5/5
Guidance given:
The adviser kicked off the conversation by asking for basic details, including the dates of birth and joint income of the shopper and his partner. After taking a brief pause to crunch numbers, the adviser said the couple were likely to be able to secure an 80 per cent loan-to-value mortgage – assuming that their credit history was not affected by defaults.
5/5
Knowledge:
The adviser was notably well versed on the area. 5/5
Email/web presence:
tony@purewealthltd.com
www.robinsongeorge.com
5/5
Verdict:
Very good. The adviser took time to make calculations to offer more tailored guidance, to his credit.
35/35
Provider
Barclays
Speed of response: Time of call: 4.10pm. The call was answered by an automated machine. The shopper was transferred to a representative within 30 seconds. 4/5
Telephone manner:
Professional.
4/5
Relevant qualifications:
The representative said she was not qualified to offer advice.
0/5
Payment method:
Varies from product to product.
3/5
Guidance given:
The representative said the shopper would be able to seek advice from one of the bank’s internal mortgage advisers once he completed the mortgage-in-principle application. She explained that the adviser would conduct a fact-find and would advise on whether a fixed rate or tracker would best meet the couple’s needs.
4/5
Knowledge:
The representative showed good knowledge of the company’s mortgage process.
4/5
Email/web presence:
www.barclays.co.uk/mortgages
3/5
Verdict:
The representative gave helpful information in a timely fashion.
22/35
