End of 'Fixed-rate' mortgage term, what to do?
- Thread starter TheBoyBilly
- Start date
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OP
OP
TheBoyBilly
New Member
- Location
- Shoreham-by-Sea, West Sussex
Cheers folks. I think he is chancing his arm too. It's mainly his fault the 2 endowments don't finish at the same time.
Bill
Bill
ttcycle
Cycling Excusiast
To be honest if the first mistake was due to this plonker of an 'advisor' I wouldn't trust him with his recommendations.
OP
OP
TheBoyBilly
New Member
- Location
- Shoreham-by-Sea, West Sussex
I have to take some of the blame myself for not reading the forms properly and checking the dates. That said, when I met up with my IFA last Friday the reason for the date discrepancy was never mentioned. I wonder why. I wish I'd met up with the HSBC lady a little earlier.
Bill
Bill
OP
OP
TheBoyBilly
New Member
- Location
- Shoreham-by-Sea, West Sussex
Thanks ttcycle, my IFA said that 'rates will go up' and that 'we were looking at fixed-rate deals'. I seem to remember asking for advice on THE BEST DEAL. He hasn't come up trumps in my opinion and who is to say if, and by how much, rates will rise in the next four years which is all I am concerned with. If I can go 2 years without touching a base rate of over 2.5% (3.5% to me) I should be quids in. Sour grapes springs to mind.
Bill
Bill
Archie_tect
De Skieven Architek... aka Penfold + Horace
- Location
- Northumberland
Bill,
An IFA would normally get you to sign a letter of appointment onto which their terms and conditions were attached with one copy for you to sign as confirmation. If you have signed nothing then your IFA does not have grounds to charge you anything. An IFA would not present you with an arrangement fee with a lender before all the paperwork was agreed with you. He doesn't sound very independent!
It also may be appropriate to enquire with your local Citizens Advice Bureau whether you were mis-sold the original endowments by the same IFA which you haven't, as yet, raised with him.
An IFA would normally get you to sign a letter of appointment onto which their terms and conditions were attached with one copy for you to sign as confirmation. If you have signed nothing then your IFA does not have grounds to charge you anything. An IFA would not present you with an arrangement fee with a lender before all the paperwork was agreed with you. He doesn't sound very independent!
It also may be appropriate to enquire with your local Citizens Advice Bureau whether you were mis-sold the original endowments by the same IFA which you haven't, as yet, raised with him.
OP
OP
TheBoyBilly
New Member
- Location
- Shoreham-by-Sea, West Sussex
More to ponder. I won't bother you anymore with this as I am happy with the deal I have finally got. Your advice was invaluable and perked me up no end. Even if I really do have to pay £445 for whatever I am still up but I have a feeling I will get away with at least the brokers fee.
Thank you very much once again.
Bill
Thank you very much once again.
Bill
Archie_tect
De Skieven Architek... aka Penfold + Horace
- Location
- Northumberland
No problem, pleased you've got what you needed.
