Financial Advisor Mortgage

We are looking to get a mortgage but are struggling in the current climate as I have 2 defaults, we need to speak to someone independant but not sure if we should speak to a Financial advisor or a Mortgage advisor ???

Any help would be appreciated
we have a £60k deposit but is not as straight forward as would seem, the House we are looking at purchasing is from my parents and they are giving me my share on the house as a deposit ( hope this make sense ? )

Hi,

I'm a Mortgage Consultant. Your defaults may, or may not be a problem. It pretty much depends on how long ago they happened, how large they are, and whether or not you have cleared them. The fact your parents are gifting the deposit may make things even more tricky, as not all lenders are happy taking a gift as deposit.

I honestly can't tell you what the best course of action is until I know more about your circumstances, so please send me an email on Yahoo! if you want to talk it over in more detail.

2009-02-08 03:12:43 by DIANE C

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We are forming a group wishing to borrow as much as possible to buy a small apartment building in Berlin. We can raise between 50-70% cash (approx Eur 350K)depending on property value. We are all UK based and there will be 4-5 people involved. Thanks

Can't give you a specific tip on a financial advisor, BUT:

Note that in Germany, financial advisors and planners are rarely independent and almost always have financial incentives to steer customers to the products of institutions with which they have some kind of relationship. So you're best bet is to contact a few advisors and get several detailed offers in writing that you can compare with one another. I would start by contacting Berlin-based people at institutions like Deutsche Bank and Commerzbank and seeing what they have to offer. Online banks such as Cortal Consors (backed by BNP Paribas) also offer mortgage deals, I think. You should also check financial institutions in the UK; it seems to me entirely plausible that a UK institution would finance a mortgage for a German property, and then you'd be dealing with contracts in your native tongue and which operate in a legal framework which you're more familiar with. The seller of the real estate doesn't care if you got your mortgage from a German institution or not.

I would also advise getting a fixed rate mortgage, as the European Central Bank will probably be more apt to raise rates going forward than to drop them. There's just a lot more certainty with a fixed rate.

2007-06-23 12:02:37 by Dm

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No and you shouldnt want to use one either. If you cant use a reputable mortgage broker then there must be a reason (like you cant get as much as you want or have bad credit) you should take note of this because if you do get a mortgage from a "creative" mortgage broker then the chances are that you will end up defaulting on your payments and loose the house because you cant afford it.

2008-01-25 04:19:05 by poo

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its for work - secret santa gift, he goes to WHsmith quite a lot, and enjoys herbal teas. he is quite nerdy and i have no idea what to get, has to be a maximum of £5.

he already has books on chinese tea.

He spends a lot of time watching his kids play football

want it to be amusing as we will open our gifts at the office party.

I know this is hard, but any suggestions?

A FLASK for his tea ,and maybe some tea to go in it. Great at football games KEEP HIM WARM.

2006-11-30 08:47:56 by Estee

We know how much we want and know we can afford it, we just want to go over the options and get a good deal, but I don't know who would have more options, be more honest, etc. We are in the UK.

Any general mortgage/first home buying advice is appreciated.

The difference between a mortgage adviser and a financial adviser is the qualifications they hold. In order to give mortgage advice an adviser should hold the Certificate of Mortgage Practise whereas to be a financial adviser more qualifications are required in the form of the Certificate of Financial Planning. A Mortgage Adviser cannot advise on any form of investment or pension. In your case you could go to either. More importantly you should look for someone who is independent which means that they can look at the whole of the market (all the lenders). Some advisers are "independent" but actually have a panel of lenders and if so, it is worth asking how many lenders they have access to. The lower the number the less choice you are getting.
As someone else mentioned, the adviser may charge a fee and try to avoid anyone who charges more than £300 and still receives commission from the lender. There are plenty of reputable advisers out there who charge less than this so why pay it. If you need anymore help please let me know and good luck!

2008-02-26 06:36:19 by Velouria