If you want to save money, talk to a good IFA
Feb 7th, 2007 by complex001
I have recently bought my first property. While I was looking for a mortgage to buy this property I was initially offered a very bad deal: the interest rate was nearly 1% above the bank base rate, the high lending charge was nearly £4000 and the broker fee was £2500. I then consulted another mortgage broker who suggested that it was a fairly good deal even though he did not fully consider my situation. I then went to an IFA who was recommended to me by a friend, who not only reduced the broker fee five fold, but also found a deal which was below the bank rate and did not incorporate the high lending charge. Overall, this resulted in a monthly saving of £200 after the mortgage was completed. I was very happy with my IFA and he was the best in the world, which is why I recommended him to my family and friends.