Whether you’re buying a property for the first time, remortgaging for the fifth or you’re a landlord with a portfolio, mortgage advice can be a great help. With so much to think about and recent changes to mortgage rates, an initial chat with a mortgage consultant could help set your mind at ease...
What is a mortgage advisor or mortgage broker?
In short, a mortgage advisor is a qualified mortgage professional who specialises in finding the very best deal for your specific circumstances. Often they will be called mortgage brokers, but there isn’t really a difference.
When do I need mortgage advice?
If you’re a first-time buyer, then you should probably get some advice from a qualified mortgage professional. When you haven’t bought a property before, your application tends to be a little more challenging but an advisor will be your guide through the whole process – and they can really remove some of the stress!
Benefits of using a mortgage advisor
Using a mortgage advisor will not only save you time but also give you the confidence that you’re getting the right mortgage for your specific circumstances. A mortgage adviser should also:
- Explain the various mortgages available
- Explain the different types of deals
- Offer advice on how much you can afford to borrow
- Have access to unique mortgage deals that might not be available on the open market
- Help you prepare for your application
What does it cost to use a mortgage broker?
Mortgage brokers charge in a variety of different ways. Some will charge a flat fee e.g. £400, while others will take commission from the bank or lender providing the loan. Remember, using a mortgage broker should mean that you spend less money over the long term. It’s definitely worth getting a mortgage adviser for an initial meeting to go through things like fees and explain how the process works.
How do I get a first meeting with a mortgage advisor?
The mortgage options available to you will depend on your circumstances so it’s a good idea to book in a first meeting with a mortgage advisor. They will really care about finding you the right mortgage. As a first step, why not use our handy mortgage calculator and see what your monthly payments would be?...