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Urgently need to find a good Financial Adviser

  • 15-03-2016 11:26am
    #1
    Registered Users, Registered Users 2 Posts: 10


    Can anyone help me please,
    I am looking to find a very good Independent Financial Adviser to help me with mortgage difficulties and with appealing a restructure offer. Well, we asked for one under Marp but they haven't really helped us at all. I'd rather not say which bank it is, but I was wondering if there is anybody out there who has dealt with a Financial Adviser and who's had success when asking the banks for a better restructure? I am under a lot of stress and to be honest the whole ordeal is making me ill.

    We had already supplied our SFS to the bank and we had a small amount of arrears too to recapitalize but they want the full mortgage repayment each month. Honestly, it's just not workable as we are to yet decide on other finances. It's a long story, there are two households as my ex and I are separated a while now, there is currently only one of us in employment and we can only afford two thirds of the mortgage re payments. The bank are looking for the full amount each month, which isn't feasible at all for us, so I am looking for an expert who will look over our finances and who will help us submit an offer of a split mortgage / warehousing a small portion of the mortgage until the end of the term. We are on a time limit to appeal, so I need someone urgent..

    We are not in negativity equity, but there is very little equity in the property either. This is the family home and we have small children, plus one of the is actually quite ill, the bank are aware of this too. We are under a lot of stress as you can imagine.. So, for stability reasons we what to keep the family home, we have lived here a long time. I think if we could find a private Financial Adviser rather than an organisation fighting for families it more helpful and we only have weeks to appeal.

    Would so appreciate any help or advise from people who have been through this themselves, or others out the other side of similar situations. Thanks.


Comments

  • Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    Have you tried getting in touch with your local MABS office? If they can't help you I'd imagine they'd be able to recommend someone.


  • Registered Users, Registered Users 2 Posts: 7,134 ✭✭✭Lux23


    I would recommend going to your local FLAC centre because I think legal advice would be a better option than a financial advisor. In my experience, financial advisors are not great when it comes to things going wrong.


  • Registered Users, Registered Users 2 Posts: 3,395 ✭✭✭phormium


    But it's a sustainable financial proposal that is needed so not really a solicito/legal issue. I would also try MABS, they may or may not be able to help but should be able to point you in the right direction if they can't.

    Is it one of the banks that IMHO deal with? Is so contact them https://www.mortgageholders.ie/


  • Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    + 1 for MABS.


  • Moderators, Business & Finance Moderators Posts: 17,858 Mod ✭✭✭✭Henry Ford III


    Maybe you'd be better off talking with a P.I.P?


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  • Registered Users, Registered Users 2 Posts: 10 eve38


    Thanks a million for replies..

    Just to clarify,
    we have legal advice, going through separation etc. Very very limited time again without going into anymore details here..
    Sorry, long story, but time is a major factor here and not looking to go to mabs or new beginnings or Irish Mortgage holders Association. Just seeking a 'private' independent Financial Adviser who helps people draw up proposals for a split mortgage for the bank on appeal of their offer. It needs to be submitted asap. I am looking for someone 'good' and on the east coast please only.

    There has got to be someone reading that has used a private financial adviser for this? Please, please if you know of someone and can recommend a person you have used for similar, please can you either pm me or post. Thanks a million in advance.


  • Registered Users, Registered Users 2 Posts: 3,395 ✭✭✭phormium


    Have you tried somewhere like Grant Thornton?


  • Registered Users, Registered Users 2 Posts: 10 eve38


    No, never heard of them .. will look them up. Thank you..

    I should probably say that I'm based in leinster.


  • Registered Users, Registered Users 2 Posts: 11,907 ✭✭✭✭Kristopherus


    eve38 wrote: »
    No, never heard of them .. will look them up. Thank you..

    I should probably say that I'm based in leinster.

    A private financial advisor will cost you big-time. MABS is free and better advice imho.


  • Registered Users, Registered Users 2 Posts: 82 ✭✭StanleyOllie


    You say you completed SFS. The repayments offered would be based on the information you provided. The level of repayments is based on the surplus income left after expenses come out. You may need to do a new one if things have changed. Put in all expenses.... all reasonable living expenses they expect you to have some sort of modest social life. Presents cost... christmas. Bills, car, maintenance other repayments. Food and clothes. The surplus remaining is what you can afford to pay. Also remember if too little remains the mortgage is deemed unsustainable. Just be realistic. And maybe do get help filling it out. Hope that helped a bit.


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  • Registered Users, Registered Users 2 Posts: 3,395 ✭✭✭phormium


    I would also advise asking this question on askaboutmoney.com, you might get a recommendation from there too.


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