Those who are looking for impartial advice when it comes to mortgage loans now have a new resource thanks to the consumer group Which?. With approval from the Financial Services Authority, the group has decided to launch a mortgage advice service for its members. The service will be free for those who subscribe to Which? Magazines as well as their friends and family.
The mortgage advice service should be available at the end fo the month. Those mortgage advisers working for the service will be paid a salary and will not be paid for any loans they arrange nor will they receive commission pay. The advisers will be graded according to the quality of advice they give and customer satisfaction and they will not have sales targets. All of these pay related features have been put in place to make sure advice given is impartial.
The service will be called Which? Mortgage Advisers. They plan to set themselves apart from other mortgage loan advisor groups by looking out for mortgage loans available from sources other than banks.
Commercial Director of Which?, Chris Gardner, said: “Buying a house is the largest financial commitment that most people will make and choosing the right mortgage is an important and complicated decision.
“Our members tell us that they find it difficult to know where they can turn to get trustworthy advice from someone who will give them the full picture. We believe that this service will give our members access to the advice they want.”