[cite]Posted By: Oggy Red[/cite]I used an Independent and was sold a Northern Rock mortgage - and it turned out to be the worst deal I've had in nearly 30 years of having mortgages.
Due respect to Stanny & Golfie, - but how can we be sure that even Independents act in your best interests - rather than chase the best commission deal for themselves?
Because all Independant Brokers are strictly monitored by FSA. If they have been found to mis-sell or select one on commission it is likely they will be heavily fined or indeed have their license to sell revoked. A Broker will tell you what the best deal is from across the whole market not just one bank, final choice is yours at the end of the day though.
Cheers, Ketman, just looking for reassurance.
I'm not happy with the way my deal was done - and I might very well seek advice.
Thanks for your comments, though.
[cite]Posted By: razil[/cite]Did I read that using the inflation calculation method prior to the most recent one, to include house prices etc actually means inflation is lot healthier?
Petrol and diesel are meant to have come down in price too over the last week or so... that'll decrease inflation too, won't it?
However, the following month will probably go up again, with gas going up 33% and electricity going up also
Actaully it might not....inflation figures are calculated on a rolling 12 month basis. The figure coming out of the equation next month is a minus figure so inflation will automatically go up by that amount minus any negative figure from July..........Clear?....lol
[cite]Posted By: Ketman[/cite]
Because all Independant Brokers are strictly monitored by FSA. If they have been found to mis-sell or select one on commission it is likely they will be heavily fined or indeed have their license to sell revoked. A Broker will tell you what the best deal is from across the whole market not just one bank, final choice is yours at the end of the day though.
I think that "strictly monitored" is a bit of an overstatement here. "Regulated" is more accurate, and probably still not entirely regulated enough - and I say that as someone who has met and worked with many many IFA's over the years. There are still a lot of IFA's out there who, shall we say, live very close to the edge. And that's not me saying that - it's what other IFA's tell me.
At the end of the day, what with the internet and the various search/comparison websites, it's pretty easy to find yourself a good deal these days with only a minimal amount of research or time. Granted that IFA's do have access to better deals, but the thought of paying someone £500 in order for him to type my details into "Moneysupermarket.com" and read off the screen doesn't really appeal that much!
Pension advice on the other hand is something completely different - that really is a dark art!
[cite]Posted By: razil[/cite]Did I read that using the inflation calculation method prior to the most recent one, to include house prices etc actually means inflation is lot healthier?
Petrol and diesel are meant to have come down in price too over the last week or so... that'll decrease inflation too, won't it?
However, the following month will probably go up again, with gas going up 33% and electricity going up also
Actaully it might not....inflation figures are calculated on a rolling 12 month basis. The figure coming out of the equation next month is a minus figure so inflation will automatically go up by that amount minus any negative figure from July..........Clear?....lol
Crystal... I did A Level business studies and economics mate ;-)
Comments
Cheers, Ketman, just looking for reassurance.
I'm not happy with the way my deal was done - and I might very well seek advice.
Thanks for your comments, though.
Actaully it might not....inflation figures are calculated on a rolling 12 month basis. The figure coming out of the equation next month is a minus figure so inflation will automatically go up by that amount minus any negative figure from July..........Clear?....lol
I think that "strictly monitored" is a bit of an overstatement here. "Regulated" is more accurate, and probably still not entirely regulated enough - and I say that as someone who has met and worked with many many IFA's over the years. There are still a lot of IFA's out there who, shall we say, live very close to the edge. And that's not me saying that - it's what other IFA's tell me.
At the end of the day, what with the internet and the various search/comparison websites, it's pretty easy to find yourself a good deal these days with only a minimal amount of research or time. Granted that IFA's do have access to better deals, but the thought of paying someone £500 in order for him to type my details into "Moneysupermarket.com" and read off the screen doesn't really appeal that much!
Pension advice on the other hand is something completely different - that really is a dark art!
Crystal... I did A Level business studies and economics mate ;-)
i've picked up these things over the years working in the McDonalds in Cannon Street......;-)