FTAdviser.com

Advertising

I would like to know why mortgage IFAs are unable to get a listing on the Unbiased website? It seems we are not getting treated with the respect we deserve. Speaking from experience, if you call up Unbiased you seem to get short thrift and they are not interested as they think we are not IFAs. If a client wants a mortgage adviser why are they unable to access a specialist through the Unbiased website? Paul Clifford, Rethink Mortgages, East Sussex

David Elms, IFA Promotion and Unbiased, London

Dear Paul,

Actually IFA Promotion and Unbiased has been successfully promoting mortgage IFAs for many years now. In undertaking this role, we have sought to protect the IFA brand in the eyes of consumers.

Understandably, this has meant Ifap has had to restrict its database to IFAs, those firms that have an investment IFA based at their branch and give whole of market advice and offer a fees option for all product areas they advise on, including mortgages.

More than 9000 IFA branch addresses complying with these criteria and are currently listed on our database and this includes more than 5000 mortgage IFAs.

We are aware there are other whole of market advisers out there who might like to be listed on Unbiased but are currently not eligible to join Ifap. Regrettably, as Ifap's remit remains the promotion of IFAs we cannot list these advisers on Unbiased.

Richard Morea, London and Country Mortgages, Bath

Dear Paul,

From a general point of view it is not so important whether the person is a specialist mortgage adviser or an IFA doing all sorts of other things, it just depends on whether they are whole of market, whether they charge a fee and the quality of the advice, these things are going to have more of an impact.

I am sure there are many good IFAs out there who give really good whole of market mortgage advice, equally many specialist mortgage advisers in the same category. I can see why you would want more recognition for pure mortgage advisers and perhaps feel you are missing out on some leads, which in today's tough climate might be more prevalent than in easier times.

However, from the client's point of view, I would not like to suggest they are not getting good advice from IFAs that do not only specialise in mortgages. If they are offering whole of market advice and the option of a fee that is good for the client.

Also the same thing is going to apply for someone who just deals in insurance, for example. The website is designed for IFAs, people or firms who advise on investments first and foremost and not intermediaries who advise on only one area, which is something other than investments.

Phil Perry, Ark Financial Planning Limited, Cheshire

Dear Paul,

My first understanding is it is an IFA's website and you are an independent mortgage broker not an independent financial adviser.

You are limited in the advice you give in so much as you are limited to just mortgages and mortgage-related products in the whole of the market. I was not aware mortgage advisers were not being treated the same on the Unbiased website but if you are only a mortgage adviser then in order to be on Unbiased you have to have an investment IFA based at your firm.

Therefore tie yourself into a company that can provide that sort of advice or get somebody in who is prepared to run this alongside of you.

I do not know of any set website that you can go on that is strictly for mortgage advisers. We are part of Unbiased but then we are IFAs who do mortgages. We are not mortgage brokers first, we are IFAs first and there is a difference.

Maybe that is an area that needs addressing, maybe you should consider setting something up that gives an Unbiased opinion, or approach, to local mortgage brokers. That is always a possibility.

Mark Osland, Formula Limited, South Croydon

Dear Paul,

If the Unbiased website is just for IFAs, then it is just for IFAs. I am not sure that is unfair because if you have an IFA in your firm, it does mean there is an opportunity for Unbiased to offer a listing for mortgage advisers.

Perhaps it is also an opportunity for another organisation to do a similar website for independent mortgage advisers but the fact is Unbiased is a website for IFAs, not for only mortgage people because they are not IFAs. I am sympathetic, but Ifap is only doing what it says on the tin.

Click here for the online-only edition of Mortgage Adviser. Mortgage Adviser will be back in print on 27 August.