Is the robo-adviser redundant already?

Thursday, 28th June, 2018

At a time when there is continual debate around whether or not the human workforce will eventually be replaced by robots, I have to admit that I experienced a degree of pleasure this week upon reading an article that called into question the efficacy of robo-advisers.

The Financial Conduct Authority has issued a warning that robo-advisers could be misleading customers over fees and the nature of the advice offered – something that those applying for a mortgage should now be taking note of.

In a world where apps are standard fare, automation has become de rigueur and the perception that automation equates to better, this warning shot from the city’s watchdog pulls into focus the delicate – and often complex – nature of mortgage guidance.

It also raises the question of whether or not a service so nuanced and personal, such as that offered by experienced mortgage brokers, can simply be replaced by apps or web-based platforms.

As a Guildford mortgage broker we are all too aware that getting a mortgage is a big decision – and one that is underpinned by many variables, most of which cannot be expressed or picked up on through an automated process. A personal approach, such as that available via face-to-face meetings or even via a telephone call, enables the mortgage adviser to pick up on the small aspects that make up the bigger picture.

It also enables the adviser to ascertain the mortgage applicant’s own understanding of their obligations and commitments with respect to the nature and size of the mortgage they require. An automated platform is a standardised approach and one that doesn’t take into account swathes of people who, for example, may be more vulnerable when it comes to making big financial decisions and who, therefore, would benefit from a conversation with an expert.

I’m not anti-automation. In fact, I wholeheartedly believe that there are many services and aspects of modern life that have improved since becoming automated. However, in my opinion, mortgage advice and mortgage brokerage services do not – and should not – fall within this category.

If you want to speak with actual people when it comes to getting a mortgage in the UK, contact Complete Mortgages on 01483 238280 or email We specialise mortgages for the self-employed, mortgages for teachers, adverse credit mortgages, buy to let mortgages and limited company buy to let mortgages.

Guildford property clinic to ‘treat’ Surrey house hunters

Thursday, 5th September, 2013

Getting the right professional advice for every stage of buying a property can be time-consuming, which is why Guildford Mortgage broker, Complete Mortgages, has brought together a selection of Surrey’s finest to launch a free drop-in Property Clinic – a one-stop-shop for those looking to move, invest or remortgage.

Complete Mortgages has formed an alliance with Seymours estate agents, solicitors Lyons and Company and Wilkins Kennedy, chartered accounts, who will all be on hand to discuss individual requirements from mortgages and finance through to estate agency and legal advice.

The property panel will be in the main hall at the QE Park Centre on Railton Road between 5.30pm and 8pm on Tuesday 17 September.

Mark Finnegan, Founder of Complete Mortgages, comments: “There’s a general consensus that the property market is picking up however the prospect of multiple visits to multiple professionals can often be overwhelming. Our Property Clinic is an ideal one-stop-shop service that will enable people to leave with a clear understanding of what they need to do and how they need to go about doing it.”

Potential movers, investors and those looking to remortgage are welcome to attend the free event, where they can grab a bite to eat and discuss their individual requirements over a glass of wine.

Simon Kelso, Director at Seymours in Worplesdon and one of the expert panellists, adds: “We’re currently witnessing a turnaround in the property market yet the economy remains fragile. Not only is this a great way for the Surrey community to get face-to-face advice with professionals but also it’s great that local businesses are working together to provide a comprehensive service for property hunters throughout the county.”