Mystery Shopper  

Mystery Shopper: Hove

Knowledgeable: The adviser was extremely helpful and showed where he was getting his figures from. 5/5


Email: 5/5

Verdict: The shopper found this adviser extremely helpful and liked the fact that he also told the shopper where she can find the information instantly.


Adviser: SLG Financial Solutions (independent)

Address: 3 Queens Parade, Hove BN3 8JG

Speed: The adviser picked up after three rings at 4.02pm. 5/5

Telephone manner: The adviser was mostly friendly but came across as a bit disinterested to speak towards the end. 4/5

Qualifications: Level 4 Dip PFS. 5/5

Payment method: The adviser said there is no charge levied to the shopper as the provider pays a commission of 0.3-0.5 per cent to the advice company. 5/5

Guidance: The adviser said that he would like to meet the shopper face-to-face as this is a complicated enquiry and wanted more information to pass on to the specific mortgage advice specialist. 2/5

Knowledgeable: The shopper could not really assess how much knowledge the adviser had. 2/5


Email: 5/5

Verdict: The shopper would have liked more information, even if that was just general information on how stamp duty bands work. 


Adviser: IEP Financial (independent)

Address: 119 Church Road, Hove BN3 2AF

Speed: The adviser picked up after two rings at 4.32pm. 5/5

Telephone manner: The adviser was very friendly. 5/5

Qualifications: CeMap. 5/5

Payment method: The adviser told the shopper that she will be charged a fee of £500 once a mortgage deal is secured. 5/5

Guidance: The adviser asked the shopper to fill out a proper fact find. He told the shopper that she will have to pay a fee of £2,500 if she disposes of the Belgian property and a £10,000 fee if she retains it. He said this means that the shopper will be short of the funds needed to apply for the mortgage. He suggested releasing equity out of the Belgian home or opting for a joint borrower sole proprietor mortgage, meaning that the parents’ affordability is also taken into account, allowing the shopper to borrow a larger amount. 5/5

Knowledgeable: The adviser demonstrated outstanding knowledge of mortgages and proposed a solution, which the others did not. 5/5


Email: 5/5

Verdict: Shopper's choice. This adviser stood out the most. While the adviser at Mortgage Medics was most helpful at explaining the calculations, this adviser confirmed what stamp duty the shopper will have to pay and proposed a solution that could help her bridge the gap in finances required to apply for the mortgage.