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The shopper has recently received an inheritance and is thinking about investing in a home in Newquay, renting it out and eventually moving there in the future. He has a deposit of £20,000, earns a salary of £25,000. Other than a student loan he has no debts and wants to know whether he can get a buy-to-let mortgage and what options are available to him. The shopper currently rents a place in Eastleigh.

Kelsall Steele

Truro, TR4 9NH

www.kelsallsteele.co.uk

Speed of response: Time of call: 12.03pm. The call was answered after six rings by a receptionist who then placed the shopper on hold. The shopper was put through to a mortgage administrator who asked him some basic questions. Finally the shopper was put through to an adviser.

Rating: 1/5 stars

Telephone manner: The adviser was extremely friendly and put the shopper instantly at ease. She was also polite and professional.

Rating: 5/5 stars

Qualifications: The adviser told the shopper she had all the proper qualifications but did not elaborate. She said she was independent, covered the whole of the market and was FSA regulated.

Rating: 3/5 stars

Payment method: The adviser explained the initial consultation would be free. If the shopper decided to move forwards however there would be an upfront fee of £399.

Rating: 4/5 stars

Guidance: The adviser said buy-to-let mortgages were in fact not regulated. The adviser was keen to have a preliminary chat with the shopper. She told the shopper to be aware lenders were not keen to give buy-to-let to first-time buyers and were working on tight criteria at the moment. The adviser told the shopper with most lenders the monthly rental income would have to cover 120 per cent of the mortgage. If anything, she advised, the shopper should give it a few months and possibly even consider buying a place of his own first and foremost.

Rating: 3/5 stars

Knowledge: The adviser was knowledgeable and came up with a lot of things to consider that had not even crossed the shopper's mind. She clearly had experience of advising within the buy-to-let market.

Rating: 5/5 stars

Verdict: The adviser was friendly and polite. She had a calm and sincere tone of voice and made the shopper feel at ease. She seemed genuinely eager to help the shopper and give him some decent guidance.

Rating: 21/30

Walmsley Baker Financial Services

Newquay, TR7 3DH

www.wbfsltd.co.uk

Speed of response: Time of call: 12.21pm. The call was answered after two rings by a friendly and professional receptionist. The shopper was put on hold for a while before being transferred to an adviser.

Rating: 2/5 stars

Telephone manner: The adviser was friendly although initially came across as being a bit lethargic and not particularly animated. It soon transpired he was relaxed but nevertheless switched on.

Rating: 3/5 stars

Qualifications: No qualifications were discussed.

Rating: 0/5 stars

Payment method: Payment was not brought up in conversation.

Rating: 0/5 stars

Guidance: The adviser asked the shopper whether he was a first-time buyer and explained the difference between a buy-to-let and a holiday let. The shopper was not sure the adviser was completely clear on what advice he was after. But in the current climate and as a first-time buyer the adviser recommended that the shopper maybe bought a place closer to home. He also told the shopper to consider other things with buy-to-let such as agent costs, potential void periods and tax issues. He advised in the current unsettled market it would be best to wait and see and weigh up all the pros and cons.

Rating: 2/5 stars

Knowledge: The adviser probably knew a lot about the buy-to-let market however there was a sense there may have been a little confusion over what the shopper was enquiring about.

Rating: 2/5 stars

Verdict: The adviser was very friendly and polite however initially he did seem disinterested. He failed to mention he was independent, he did not mention any qualifications or payment method. The adviser was perfectly pleasant and seemed knowledgeable but gave very vague advice.

Rating: 9/30 stars

Paul Fenton Financial Services

St. Ives, TR26 2SW

www.mortgagescornwall.co.uk

Speed of response: Time of call: 14.34pm. The call was picked up after nine rings by an adviser.

Rating: 2/5 stars

Telephone manner: The adviser was very friendly and personable. He was polite and professional.

Rating: 5/5 stars

Qualifications: The adviser did not mention any specific qualifications, however he did say he was independent and regulated by the FSA.

Rating: 2/5 stars

Payment method: When asked the adviser explained he usually worked on a procuration fee basis however depending on the circumstances he occasionally would ask for a processing fee.

Rating: 2/5 stars

Guidance: The adviser started off by explaining how buy-to-let mortgages were not regulated like other mortgages. He explained lenders were being stringent under the current market circumstances. The adviser told the shopper lenders were wary of giving out buy-to-let loans to first-time buyers, the minimum deposit on a buy-to-let was 15 per cent. The adviser recommended forgetting buy-to-let for the moment and leave it a year. He also suggested it would be wise to invest the money in something like premium bonds instead.

Rating: 4/5 stars

Knowledge: The adviser was clearly very knowledgeable. He knew a vast amount of information concerning the market. His love of sums, figures and terminology proved his ability in this area.

Rating: 3/5 stars

Verdict: The adviser was friendly, knowledgeable and polite. He made the shopper feel at ease although confused with certain terminology and advanced mathematics. The adviser was patient and explained his thinking until the shopper was clear as to what he was talking about.

Rating: 18/30 stars

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