Why do you need mortgage advice?

November 14, 2015 by Brendan

Advice & Tips

A mortgage is one of the largest financial commitments you will ever make, which is why you don’t want to get it wrong. Signing up to the wrong deal could leave you financially worse off by thousands of pounds over the term of the mortgage. As there are so many mortgage deals available, it can be daunting when you are trying to find the best deal for your circumstances.

Seeking advice from an independent mortgage adviser means that you will have the choice of the whole range of deals available, whereas approaching individual lenders will restrict you to their deals.

All lenders have their own mortgage criteria and they differ vastly between lenders. If you try to apply for mortgages on your own, you risk being turned down by several lenders before you find one which will accept you. A CeMAP trained mortgage adviser knows what the criteria are for each lender and can easily match your circumstances to a suitable lender. Some people may have a situation that requires a lender who specialises in a specific type of product, like mortgages for self-employed, which can be difficult to secure.

An adviser offers more than just finding the right mortgage for you. They also assist with completion and submission of the documentation, and may even act on your behalf if there are any problems between you and the lender. Just like buying a car, you need an expert’s help and experience to make sure you buy something reliable.