Boulger: Too many brokers still "order takers"

Mortgage expert Ray Boulger has criticised advisers who simply execute their clients' wishes without challenging or examining their ideas.

Boulger, senior technical manager at John Charcol, told Mortgage Solutions editor Victoria Hartley in today's One to One interview that the market still suffers from "order takers" who don't challenge clients' urge to go for the cheapest deal.

"There will sometimes be occasions where a two-year fix will be the right solution for the client. But if interest rates move, then going into a two-year fixed rate makes no sense because you'll come out of it when rates are higher and have to fix into a higher rate.

"If fixed rates stay low for longer than the City expects, which is my view, then a two-year fix will be dearer than a tracker so in both scenarios a two-year doesn't make much sense," said Boulger.

He added it is very important advisers ask their clients why they want a particular product and check they have considered other products like offsets, for example.

"If the client insists, that is fine, but advisers must have that conversation," he said.