I just had a very odd interaction with a mortgage advisor

[Isitameproblem]

I have to admit that it could be a ME problem and I'm the one who is problematic, but I think it has escalated a bit too much for my liking.

I got in touch with one of those "free mortgage advisors" (big company endorsed by Zoopla), just to sense check what I already new. I was open to do business with them as long as it made sense (i.e. get make some decent savings) but otherwise I was happy to DIY, because I would stay with the same provider, and there's a big overpayment that needs to be made and they (the mortgage brokers) couldn't give me a firm answer about it. I was clear about this from the start.

Long story short, I asked this person what was the real advantage of using and he admitted that there was none beyond giving him a condition because he "had mouths to feed".

Most importantly I did say that I really preferred to proceed on my own, and didn't want to apply through them but this "advisor" said that he had to apply for me but could cancel at any time. To my surprise, I received an email later that evening stating that I "verbally accepted to proceed" which I didn't.

So I called this morning to the call centre to cancel my application. The lady was very kind and understanding. A few minutes later the "advisor" calls back and says he wants to discuss something with me. I said there's no need, I'll manage it via call centre. He was adamant I needed to go through security questions so I just then hung up.

I called the call centre again to request to not be contacted by him again, as the whole interaction went from uncomfortable to uneasy. I also mentioned in my first call with the call centre that I really didn't want to get him into trouble, I just didn't want anything to do with their services.

Stick to your guns. Escalate if necessary. The MA is trying to sell to you and possibly overstepped the mark ...because that's how he makes money

Always suspicious of “free” services for anything . Why would anyone other than the state which is tax payer funded bar a church offer a free service?

I've used L&C before and they do give no strings attached advice, but was happy to try something else. It obviously backfired.

YABU.

Last time a family member got a mortgage (2 years ago), they used an idependent advisor. Paid £500 flat fee to find best deal, complete all paperwork, and chase things up etc. Advisor was an absolute star, and saved family member far more than £500 in the first year, let alone over the mortgage term. Well worth it, and guaranteed independent advice.

We've used them before (lovely lady) but considering it's a very small mortgage (And at a 17% LTV) that paying someone is just putty money down the drain.

We had a fantastic mortgage advisor. However, he was a local guy who values repeat business, not some rando off a big company website.

He was worth his weight in gold. Familiar with deals (and terms and conditions and penalties etc), has a very small number of deals that aren't available online to consumers directly, and his fee ends up being paid by the mortgage provider. He chases the process, has contacts to know whether a mortgage is likely to be accepted etc and does everything. And we paid zero. Even if someone is very financially literate, this guy adds value.

Your guy sounds like someone a bit unscrupulous. I should think that there are some people, who when they receive that verbal proceed email, are too afraid/embarrassed to call up and get out of it.

Are you the advisor?

My DH is an independent mortgage advisor. @Ohapal has described the advantages perfectly. He goes above and beyond to get the best deal for his clients and makes sure they understand all their options. He will freely admit to his clients when they can go direct to a lender to get a better deal than he can offer them. The main advantage is in providing a variety of options and removing some of the stress.

IME L&C are useless and don’t find you anything better than you can find yourself online. Now that we have the internet and price comparison sites most people are best off DIYing unless they have some specific circumstances that make finding deals trickier like self employed, poor credit, non standard build etc.

That said, most advisors charge the commission to the lender rather than the individual seeking the mortgage though so it’s less directly your money (although I’m sure it gets passed onto customers in one way or another).

I'd pop the cancellation in writing to them and cc their general customer service email as well just so you have a written record

Exactly, and out is a very straightforward case, with a very low LTV, decent income, and no debt. The only "gotcha" is that we have that overpayment.

You don’t need the broker to help you make the overpayment. If you’re staying with the same lender just give them a call and they’ll help you make it, or when you remortgage (whether the same lender or a different one) request the amount that it would be after the overpayment and they’ll ask you how you want to make up the shortfall and help you make the payment.

Yeah if anything it made it clearer that I was better off by just calling my current provider.

Every mortgage adviser is a salesman. Some do a more professional job than others but ultimately they are talking to you for their gain with the bonus that you are getting a good deal along the way.

Late 2021 applying for a mortgage with current provider I knew I wanted a 10 yr fix with a house move. Interest rates were only ever going one way and if they were going down it couldn't be much further. Yet during the application I was continually asked why I wanted a 10 yr fix. I actually thought the adviser was joking with the number of times he asked.

We now have a 10yr fix at less than 2% until May 2032. A bit of research and trusting your own judgement can pay dividends

Same seashells. We fixed for 10 years in 2018. The rates were so low then don’t understand why more people didn’t do really long fixes.

Ah, now this is a fine example of a fundamental truth some people mistake persistence for persuasion, and some businesses mistake obligation for opportunity.

What you had here wasn’t an advisor; it was a salesman with a script and a quota, a man who saw you not as a client but as a commission.

The moment he claimed you “verbally accepted” something you clearly didn’t, he crossed from desperation into deception. And that, my friend, is where you draw the line with a firm hand.

You see, when people like him are backed into a corner, they double down pressure tactics, insistence on "security questions," all in the hope that you’ll find it easier to comply than to resist. But power, real power, lies in knowing when to cut off the conversation. You did precisely what needed to be done escalated, documented, and shut the door.

So don’t second-guess yourself. If a man has to trick you into business, imagine how he’d handle your money. You weren’t the problem here you were simply the one who saw through his game.