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The Free Money Advice Service has been setup by the government to provide impartial advice on most financial matters but is particularly good on Equity Release.
Equity Release is a minefield but a necessary minefield! Get it right and older people can raise money on their property - potentially allowing them to afford to stay in their homes for the rest of their lives. Get it wrong and they can accumulate an enormous debt and effectively disinherit their children as the finance company claims their home in order to repay the accumulated loan when they die. The link below may help you decide whether this might be a useful route to go down. However just as importantly consider using a financial adviser.
Equity Release is a minefield but a necessary minefield! Get it right and older people can raise money on their property - potentially allowing them to afford to stay in their homes for the rest of their lives. Get it wrong and they can accumulate an enormous debt and effectively disinherit their children as the finance company claims their home in order to repay the accumulated loan when they die. The link below may help you decide whether this might be a useful route to go down. However just as importantly consider using a financial adviser.
This is a simple AgeUK Equity Release calculator which will help you find out how much an equity release loan would allow you to raise on your house.
Independent Financial Advisers - IFAs Torquay
Howard Financial
345A Torquay Rd, Paignton TQ3 2EP, UK – 01803 554455
Howard financial were fantastic at helping us find the right mortgage and life insurance. They worked very hard and kept us well informed at all times. FANTASTIC!
Very professional team. Best brooker I ever met.Strongly recommended.. Thank you
Ripley Wales Financial Planning
185 Queensway, Torquay TQ2 6DE, UK – 0800 093 4115
Great service from people who know what they are talking about. Steve could not have been more helpful and is not afraid to think outside the box, coming up with a tailor-made plan to suit my own particular situation.
The Pension Drawdown Company
Rockwood House, Parkhill Rd, Torquay TQ1 2DU, UK – 01803 211214
We received excellent, unbiased advice which has saved us thousands! At no time did we feel under pressure to proceed with our investment option, and now we have, we just wish we had done it sooner! Fantastic work by the team at the Pension Drawdown company. I will happily recommend you to all of our friends and family.
Very helpful and informative. When I first got in contact I didn't know about or even understand pension drawdown. However, the advisors on the phone are very easy to talk to and explained everything to me in great detail and in such a way that I understood. I have recommended this company to two friends already.
Click for excellent Money Saving Expert advice on choosing an Independent Financial Adviser (or IFA) around Torquay.
This is a revolution! We are used to going to a bank with a business plan and been lent money on very high rates of interest - but only under increasingly demanding conditions. Crowd funding is the public investing directly to the businesses - at all stages of their development. Crucially there is a huge range of projects and Crowd Funders. You could do worse than just read and then click some of the WiKi link below.
Crowd Funding and Business Loans
We could not find any Crowd Funding or Business Loans around your location. Please click below to see full results from Google.
TSB Bank
221 St Marychurch Rd, Torquay TQ1 4NB, UK – 01803 599998
After after having my account hacked over a weekend amd spending 4 hours on the phone (getting nowhere) i arrived at the Torquay branch. They where very helpful and blocked my account from future fraud however this also meant I could not use it either. However a week later and still locked out of my own account but the pending fraudulent payment where paid? Yet another visit to the branch and again they could mot be more helpful however still.not got access to my funds and now 10 days later. Thank you team in Torquay for your part in trying to resolve this for me.
Very friendly staff, open til 5 on most days, and spacious.
Banks
Barclays Bank
Fore St, Torquay TQ1 4PP, UK – 0345 734 5345
A regular Barclay's located in the center of Babbacombe.
Lloyds Bank
51-52 Fleet St, Torquay TQ2 5DW, UK – 0345 300 0000
Medium sized branch with fast deposit machine and medium sized staff. Queues are OK by try to avoid peak times so around 9 and 12.
Barclays Bank
Fleet Street, Torquay TQ2 5EB, UK – 0345 734 5345
Amazing service always greeted with a friendly smile and efficient service
Located conveniently in town, just a shame it closes at 16:30, tricky to make it in on time during week days.
Building Societies
Nationwide
59 Union St, Torquay TQ1 3DN, UK – 0800 554 0496
Efficient friendly staff and service
Great friendly service with a smile
Theosophical Society
Parkhill Rd, Torquay TQ1 2AL, UK – 01803 203195
Lovely people and a very nice building.
The Religious Society of Friends
48A Tor Hill Rd, Torquay TQ2 5RT, UK – 01803 297184
Mortgage Brokers
Philip H Meek Ltd
17 Walnut Rd, Torquay TQ2 6HP, UK – 01803 606914
Riviera Mortgages
26 Walnut Rd, Torquay TQ2 6HS, UK – 01803 500190
Seaway Mortgages
55 Havelock Rd, Torquay TQ1 4RQ, UK – 01803 898113
Mortgage Brokers - Key Questions
How much do mortgage brokers charge?
Typically, a broker will actually be paid around 0.35% of the mortgage loan as commission from your the lender. So, for every £100,000 borrowed, they would receive £700 in commission - if they are on commission. Many will therefore not charge for their advise if they are. However they maybe tied to specific companies and so may not be able to offer the best deal. Start with your bank. They will know you personally and financially - hopefully! They will tell you about their mortgages and you can use them as a base line to compare products found by mortgage brokers around Torquay.
Is it better to get mortgage from bank or broker?
This question will be answered by this initial mortgage research. You may hit it lucky and find that your bank can give you the best deal - but do check with a mortgage broker first.
How do I find a good mortgage broker?
Don't write off the financial comparison websites. Moneysupermarket is full of good advise on how to find mortgage brokers and may even be able to point you around Torquay Warren Road that they particularly recommend - although will be on commission themselves! Click the link below to go the the right part of Moneysupermarket.
Are mortgage brokers worth it?
Probably yes and we are not on commission! You are free to the these ones a ring - it could really worth it.
Typically, a broker will actually be paid around 0.35% of the mortgage loan as commission from your the lender. So, for every £100,000 borrowed, they would receive £700 in commission - if they are on commission. Many will therefore not charge for their advise if they are. However they maybe tied to specific companies and so may not be able to offer the best deal. Start with your bank. They will know you personally and financially - hopefully! They will tell you about their mortgages and you can use them as a base line to compare products found by mortgage brokers around Torquay.
Is it better to get mortgage from bank or broker?
This question will be answered by this initial mortgage research. You may hit it lucky and find that your bank can give you the best deal - but do check with a mortgage broker first.
How do I find a good mortgage broker?
Don't write off the financial comparison websites. Moneysupermarket is full of good advise on how to find mortgage brokers and may even be able to point you around Torquay Warren Road that they particularly recommend - although will be on commission themselves! Click the link below to go the the right part of Moneysupermarket.
Are mortgage brokers worth it?
Probably yes and we are not on commission! You are free to the these ones a ring - it could really worth it.
Mortgages
Affiliated Independent Mortgages
Barclays Chambers, Fore Street,, St.Marychurch,, Torquay TQ1 4PR, UK – 01803 322826
Landlord Funding
32 Mead Rd, Torquay TQ2 6TF, UK – 01803 607239
IERAA Equity Release Torquay Devon
55-57 Havelock Rd, Torquay TQ1 4RQ, UK – 01803 328008