/24-7PressRelease/ - LONDON, UK, December 30, 2007 - Birmingham Midshires, a specialist mortgage provider, polled more than 2,000 Brits as part of its 'Not So Average Joe' campaign studying the consequences of taking advice from friends and family. The study revealed that one-sixth of those interviewed were given bad advice by their nearest and dearest.
Around eighty of those who received bad financial advice had to suffer financially. The negative impact of bad advice was not restricted to the monetary terms. Almost 17 per cent people wasted a lot of time; 12 per cent felt that their relations have soured with the person who gave the advice and 4 per cent eventually lost an asset like a house, car or other valuable belongings.
There are a number of loan products like secured loans, personal loans and mortgages available in the market and very often, it becomes difficult to make the right choice. An advice taken from a qualified financial expert like an independent financial adviser can help you in clearing all the doubts that you might have when borrowing money. Independent financial advisers are required to hold a Certificate in Financial Planning as a basic qualification and are regulated by the Financial Services Authority.
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