Do you really need to consult a mortgage adviser?

December 16, 2015 by Brendan O'Neill

Mortgage Advisors

Once you have decided to buy your own home, you need to calculate how much you can afford to pay each month for a mortgage. You also need to work out how much you will need to save for the deposit, the legal fees, property survey and all the other expenses involved with buying a property. A qualified mortgage adviser has all the information required to help you make the best choices, including finding the most affordable product.

A mortgage adviser is professionally obliged to give you the best advice available. When they recommend a product, they must provide reasons for doing so. If it later becomes apparent that they didn’t give you the best advice, you can claim compensation. However, mortgage advisers undertake a strict regime of training before they are permitted to give advice to borrowers.

The start of the training is the CeMAP courses in Leeds and other cities around the UK. There’s a lot more to finding the most suitable product for a borrower than looking for the cheapest mortgage. You may be better off taking a fixed rate over a longer period of time at a slightly higher interest rate than a product with a lower rate over a shorter period of time. A qualified adviser will work all that out for you.

Mortgage advisers are familiar with the industry and changes within it, like the introduction of the Mortgage https://www.beaconfinancialtraining.co.uk/wp-content/uploads/2020/06/cemap-online-and-classroom-training-uk.jpget Review. If you have unusual circumstances, like being self employed or maybe having a poor credit history, a qualified adviser will be able to help.