YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Abacus Financial Ltd is authorised and regulated by the Financial Services Authority and is entered on the FSA register under reference 461796. We charge a fee for mortgage advice and this is £99. Loans are subject to status, value and type of property. Think carefully before securing other debts against your home. The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. The FSA does not regulate all forms of the products or services we provide. Sometimes we may pass your enquiry to our trading style of Abacus Associates. These pages provide generic information about various aspects of financial services advice that we provide either directly or as a referral service through carefully selected partners, as well as possible areas of clients’ financial planning needs. We hope they are helpful to you but they do not, on their own, add up to proper advice and we cannot take responsibility for anything you do in reliance on them without further discussion with us. Please do not make a decision based upon the information contained within these pages alone. They are not detailed or comprehensive enough to enable you to make an informed decision which is tailored to your circumstances and needs. Abacus Financial Ltd is registered in England, Registered number 5301473, Registered Address: 4 Thomas More Square, London E1W 1YW. VAT Registration Number 977 2291 81
Genuine Advice
from Abacus Financial
Question: Why can you count on Abacus Financial to find you the best deal on your mortgage?
Answer: Mortgage lenders (such as banks and building societies) can only offer you a mortgage from their own limited range and many mortgage brokers may not give you affordable genuine advice based on the fact that they only work from a limited number of lenders (or panel.)
In actual fact, there are:
- ‘open lenders’ which offer the same mortgage deals to consumers, whether they apply through the internet, through their branch network or via an intermediary.
- ‘closed lenders’ which only offer their products through their own branch networks.
- ‘intermediary lenders’ which only offer their products through applications placed by intermediaries.
- lenders which run a scheme known as ‘dual pricing’ where the actual mortgage rate offered to consumers will depend on the channel they chose.
- lenders which offer mortgage brokers exclusive deals via ‘mortgage clubs’ which may be better than the lender’s own core product range.
Our transparent research methods result in you getting Genuine Mortgage Advice, as we will give you the peace of mind that we have considered both intermediary mortgage rates AND direct-to-lender rates, before recommending the right one for you.
How does this work? Let us explain:
£99 Advice Service
Once we have discussed your individual requirements, we will review the many mortgage products on offer and we may recommend a mortgage that is only available directly from a lender. Or we may advise you to stay with your existing lender, because the mortgage you currently have cannot be beaten. In either case, we will not be involved in arranging the mortgage and the mortgage lender will not pay us any commission, which is why we charge you a fee of £99 so that we can afford to offer you Genuine Mortgage Advice.
£99 Advice & Arrangement Service
Alternatively, if, after reviewing the options, we find that the best deal is a mortgage which we are able to arrange for you, then we would be also be paid commission by the lender for the work involved in applying for the mortgage.
We think that this method is fair and transparent. It means that you can count on us to offer you Genuine Mortgage Advice.
We also think it is very important to explain some of our industry jargon at this stage, so here is a brief explanation of the terms ‘Whole of market’ and ‘Independent’
Whole of market
Despite describing themselves as ‘whole of market’, many mortgage brokers recommend products from a limited number of lenders and may not advise you to choose a mortgage that is only available directly from a lender, because they do not receive commission for arranging the mortgage. Because of its transparent fees, Abacus Financial can afford to offer you Genuine Mortgage Advice, based on intermediary mortgage rates and direct-to-lender rates.
Independent
Some mortgage brokers and financial advisers do charge fees, which means that they are free to choose mortgages that are only available direct from lenders. But these fees are commonly as much as 0.60% of the loan amount; that’s £900 on an average mortgage of £150,000! Compare that with Abacus Financial’s £99 Genuine Mortgage Advice Service, the affordable way to get genuine advice about your mortgage.