New 'Find a Mortgage IFA' online service launched by IFA Promotion

 

      Consumers urged to seek gold standard independent financial advice when taking out a mortgage

      Over 5,000 Mortgage IFAs, available UK wide, giving unbiased advice across all financial products

      This free service is available by calling 0800 085 3250 or visiting  www.impartial.co.uk

 

IFA Promotion, the organisation promoting the benefits of independent financial advice, today launched a specific Find a Mortgage IFA search facility at www.impartial.co.uk.  The main aim of this service is to ensure that people can easily find truly independent financial advice when seeking to make one of their biggest financial decisions, especially as IFAPs research* shows that 78% of borrowers take out one or more insurance or investment products when they take out a mortgage (1.4 products on average).  In particular:

 

         Over half (52%) of borrowers take out life insurance with their mortgage, and 31% take another form of financial protection. 

         28% of borrowers started an investment plan alongside their mortgage in the last five years, down from 69% of those who got their mortgage a decade or more ago.

 

IFAP has been working with its members to collate details of gold standard IFAs who are independent for mortgages and all other financial products. The new online search facility lists details of over 5,000 mortgage IFAs. IFAP has carefully checked and verified their authorisation with the FSA, the regulatory body.    

 

The new site, www.impartial.co.uk allows consumers to select the most appropriate mortgage IFA local to them, including those who specialise in the following areas:


General mortgage advice

Buy to let

First time buyers

Overseas

Re-mortgage

Right to buy

Self employed

100% mortgages

Commercial for individuals

Flexible

Refused credit

Residential

Self build

Equity release


In the same way that IFAPs general Find an IFA search on www.unbiased.co.uk operates people can also search using additional selection criteria including postcode, gender plus IFA and mortgage specific qualifications. Currently 5,318 incremental qualifications are listed on the www.impartial.co.uk Mortgage IFA database.

 

Karen Barrett, Marketing Director of IFA Promotion comments: Arranging a mortgage is one of the biggest single financial commitments any of us make, and therefore one of the biggest triggers to consider other financial products.  We have therefore been working behind the scenes to build a confidential service that focuses specifically on Mortgage IFAs, who can offer whole market advice to people, not only on all aspects of the mortgage remit, but also on additional investment and insurance products which may be purchased at the same time. 

 

She continued: We have been liaising with our members to collate this information, and we have built a service that offers the same unique features found on www.unbiased.co.uk.  In much the same way that people can select an IFA by location, gender, expertise and qualification, they can now do this on the new website for Mortgage IFAs.

 

Both www.unbiased.co.uk and www.impartial.co.uk will run in tandem and both search facilities are available on IFAPs freephone hotline, 0800 085 3250. 

-ends-

 

For further information, please contact:

Karen Barrett                                                  Liz Willder

Marketing Director                                           Lansons Communications

IFA Promotion                                                 020 7294 3677

020 7833 3131                                                lizw@lansons.com

   

For expert comment or case studies from over 100 media-friendly mortgage IFAs, journalists should call IFA Promotions Media Services hotline on 020 7294 3682 or search online in Media Services at www.impartial.co.uk

 

1.  Independent Financial Adviser Promotion

 

IFA Promotion was established in 1989 to promote the value and accessibility of independent financial advice to the public.  It represents around 9,000 firms of independent financial advisers across the UK and is sponsored by 30 leading financial institutions. In 2004, over 440,000 consumers and businesses used IFA Promotion to find local independent financial advice.

 

IFA Promotion believes Independent financial advice should be:

 

        Affordable.  The option to take independent financial advice should be available, by right, to all - not just the wealthiest in society.

 

        Convenient.  IFAs should be available in the location of the consumers choice, wherever they live in the UK.

 

        Transparent.  It must be clearly transparent to consumers who is able to offer independent financial advice and who is not.

 

2.      Independent Financial Adviser Promotions sponsors

Abbey

Mortgage Express

AXA Life

National Savings & Investments

Bright Grey

New Star Investment Funds 

BUPA Health Services

Norwich Union Life

Canada Life Ltd

Old Mutual Asset Managers (UK)

The Childrens Mutual

Prudential

Clerical Medical Investment

Scottish Equitable Plc

DWS Investments Ltd

Scottish Life

Friends Provident

Scottish Life International

GE Life

Scottish Widows Plc

GMAC Residential Funding

Skandia UK Group

INVESCO Fund Managers Ltd

Southern Pacific Mortgage Limited

Legal & General

Standard Life Assurance Company

London Mortgage Company

Webline Limited

Lincoln Financial Group 

Zurich Intermediary Group

 

 

 

 

 



* YouGov survey of 2,120 GB adults in October 2004 commissioned by IFA Promotion

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