On the look out for a mortgage? A quick Google will reveal that there’s quite a lot of information out there (65,000 000 search results to be precise!). Pretty overwhelming if mortgages aren’t really your area of expertise. But that’s where a mortgage adviser can come in.
Mortgage advisers specialise in finding lenders who will meet all your needs (and more) when it comes to getting a mortgage. They do this by looking at your personal circumstances and recommending suitable mortgages for you.
Not only do they manage your mortgage application, they’re also there to provide support throughout the process.
Plus, mortgage advisers are regulated by the Financial Conduct Authority (FCA) which means you can rest assured you’re getting an honest and fair deal.
Whether you are a first time buyer, looking for your second home or worried about your credit score, here’s why you should think about using a mortgage adviser…
1. Up to date information at your fingertips
The property market can be daunting at the best of times. And just when you think you’ve got it all figured out by understanding the difference between a fixed rate and a tracker mortgage, along comes a global pandemic. Putting an 8-week halt on the property market.
The market has since reopened, but the world is in a different state to when it closed.
Firstly, base rate currently stand at 0.1% which is the lowest the UK has ever seen. Plus, according to the latest reports* as of June 8th there were approximately 8.9 million people on furlough.
Anyone reading this might be thinking: can those on furlough still get a mortgage? Or, are fixed-term mortgages still available whilst base rate is so low?
And while you might not the know the answers to these questions, that’s where mortgage advisers can help. They are up to date with the all the knowledge to make sure you get the best deals in real time.
2. Insider knowledge
Mortgage advisers have intimate knowledge of which lenders are happy to provide mortgages for specific types of circumstances and situations.
For example, some lenders are less likely to lend to the self-employed, whilst others pride themselves on providing mortgages for those who work for themselves.
And, as a consumer, you possibly wouldn’t know that one lender offering a 90% loan to value mortgage opens its lending pot at 8am every day but come 9am it has closed.
3. Hassle free
The two words everybody wants to hear! Mortgage advisers do all the hard when it comes to the application process.
They scan the market, liaise with the lender on your behalf and make sure the mortgage is secured from start to end.
Plus, advisers work with solicitors to make the process beyond the mortgage offer as seamless and hassle free as possible.
The only thing you’ll have to do is fill in some paperwork at the beginning, so your adviser can better understand your circumstances and find the best mortgage for you.
4. Ongoing support
When it comes to getting a mortgage, no two clients are the same. Whether you are employed, self-employed or worried about your credit score. Or perhaps you’re unsure how much deposit you will need, or how much you could potentially borrow based on your current furlough earnings. Mortgage advisers are there to guide you through this process (and beyond).
Many advisers also provide a range of other services. Like life insurance, income protection or critical illness cover. All things you might think about getting once you have a mortgage. So, once you find an adviser you like, you’ll never have to leave.
5. Access lenders you wouldn’t find on the high street
With a mortgage adviser, you’ll have access to mortgages that aren’t available directly as a consumer. This is because advisers work closely with lenders to provide a seamless service and have access to the whole UK mortgage market.
In fact, some mortgage lenders only lend through mortgage advisers and many lenders create exclusive mortgages purely available through advisers. So why not get the best of both worlds?
Buying your first home or moving house can be one of life’s biggest expenses. So it’s important to get it right. At Mortgage Confidence we treat all our clients with the utmost care and attention and will always go the extra mile to secure you the best deal. Jo Jingree, our mortgage adviser, was listed in The Times 2019 Guide to the top rated Financial Advisers. She brings many years of experience to help you secure the right mortgage deal for you.
We offer a free 30-minute consultation. Thereafter, we’d ask you to complete a fact find so we can identify a mortgage suitable for you and your current circumstances. Once we have submitted the mortgage application, there is a one-off fee of £299. Get in touch to find out more.