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Homeloans website claims to cut out advice

A new company claims borrowers can skip the advice process and use its price comparison website to source a mortgage.

Go Direct, which was established last year and is an appointed representative of Personal Touch Financial Services, has been set up to “fulfil the needs of customers wanting to access the entire marketplace, without having to consult an advisor unless they choose to”.

Users fill in details on a mortgage calculator before choosing a product. It includes a search for credit cards, insurance, loans and energy providers.

It features the option of seeking advice if required through a no-fee service although consumers can pay an optional 500 fee. The site criticises online financial firms for selling customer information.

Go Direct says: “We are here to cater for financially aware people who want to make their own financial decisions without consultation from a third party.”

Alexander Hall chief operating officer Andy Pratt says: “These types of websites will only ever be a niche as most people need advice.”


Hay divides IFA operations

James Hay has restructured its IFA broker operations, with Shaun Sandiford and Damien Conway taking over the South and North respectively in a move that sees the former role of Stefano del Federico, who resigned this month, split into two.

The jewel of the nil

Nil-rate band planning for inheritance tax can be a very effective strategy.

Abbey’s steep step shocks advisers

Abbey has been accused of creating a huge payment shock for borrowers after launching a stepped-rate deal that starts at 2.99 per cent for the first year.After one year, the five-year mortgage offer shoots up to 6.2 per cent for two years and climbs again in years four and five to 6.35 per cent. It […]

Mortgage debt rises for pensioners

UK pensioners are carrying £98bn of mortgage debt into retirement which could be storing up a future timebomb, according to research from Key Retirement Solutions.The equity-release specialist says one in four people in or nearing retirement could have an average of £31,000 per head of debt.The analysis, based on more than 4,600 over-60s who released […]


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