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Hi Guys.Hopefully I've put this in the right place.Has anyone had any dealings with Nova Financial? I had an initial meeting and have a conference call Wednesday and a meeting in London the Wed after with their recommendations.The idea of it sounds good but just wondered if anyone had experience with them and should I be extra careful. Obviously I will look into any recommendations they give me.
Hi Andrew,The main director and front person is Paul Mahoney, who has three directorships to his name on Companies House that I can find.NF was established in May 2015 and the two other companies in mid 2016.The track record is therefore pretty slim other than DueDil showing net assets of circa minus £65K.What are Nova Financial offering you?
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Never heard of them.
They they seem to be a Property Club & Mortgage Advisers?
From the context of your post I presume they are offering you investment properties. If that is the case, you should obtain independent financial advice (not via the same firm). There seems to be a inherent conflict of interest in the model.
_________________________________________________________________________The above post is not financial advice, its often me rambling - passing time on a coffee break.If you are looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance._________________________________________________________________________
Ok thanks guys.
They say they work with developers and can get off plan discount . They have teams of people for certain things eg researching up and coming areas, financial forecasts etc.
They say they make money from clients (offering free consultation at landlord shows) and from the developers, like an estate agent fee. Also from arranging mortgages, setting up companies etc they charge for.
Yes that's where the conflict comes in - they make money from developers (vendor) and clients (you).
Who are they working for? is it the developers who pay them to act as estate agent where they need to get the best price. Or is it you the borrower who they want to get the lowest price.
Always obtain independent financial advice especially when there is possibility of a conflict of interest.
Paul Mahoney here, MD at Nova Financial Group.
Thanks for asking around about us, I'll be more than happy to answer all of your questions on our call on Wednesday.
Just to be clear for everyone on this forum though, there is no conflict in our advice. Our mortgage advice permissions are provided through our directly authorised network as an authorised representative for both residential and buy to let mortgages.
We do not charge for property investment advice. Anyone who is selling property in the UK will pay a fee for a sale, we are able to collect that fee for delivering a buyer and facilitating a sale. We have a very strong network throughout the UK and have access to a very broad range of property. Any fees are fully disclosed and transparent to you as the client and we use our buying power to get you the best possible deals as our clients invest in 30+ properties a month, so you benefit from that. That's not a conflict but rather a very mutually beneficial relationship.
If you'd like to see what previous clients think of our service then please check out the significant number of glowing reviews at the following links (the forum wouldn't allow them to be clickable so just copy and paste them into your browser);
Google reviews; bit.ly/2PWeVx8
Trustpilot reviews; uk.trustpilot.com/review/nova.financial
Facebook reviews; bit.ly/2QCGNUn
We are very proud to be an advisory business that has been operating for 4+ years (we originally operated as an arm of London Belgravia Ltd) with only positive reviews. This really speaks for itself. Our management team has over 100 years of experience in both property and financial services and each of us has very strong and positive reputations in the industry.
If you'd like to know more about me as the Founder and MD then feel free to take a look at my personal website; paul-mahoney.com where you'll learn more about my experience and philosophy toward financial advice and property investment. Of course, there is lots more about us on our website too including 30+ hours of educational videos; nova.financial
Thanks again and talk soon,
Paul A Mahoney
Founder & Managing Director
Nova Financial Group
Like most sourcing companies out there, they got mostly off plan "deals" from developers at a "discount". Offer it to you to buy and will get a commission on each sale. Plenty of companies like that around. They do not do pre-owned BTL.
I have one ongoing deal with Nova Financial
I’m very close to doing a deal with these guys.
Can you tell me a bit more about the property and what happened?
The property is in Liverpool, completion due in 2019.
Thank you for the detailed explanation.