Seeking Out Mortgage Advice

Seeking Out Mortgage Advice
Whether you​ are a​ first-time-buyer purchasing your first home or​ an​ existing home owner looking for a​ remortgage product,​ it​ is​ important to​ seek out expert mortgage advice to​ ensure you​ secure the​ right home loan for your personal circumstances.
Evolution of​ the​ UK Mortgage Market
The UK is​ often referred to​ as​ having the​ most sophisticated mortgage market in​ the​ world .​
a​ wide variety of​ mortgage products are now available from dozens of​ lenders where only a​ few lenders existed before.
Mortgages are now available to​ people with all kinds of​ credit histories and employment situations and are also available to​ purchase property for investment purposes .​
This situation is​ vastly different to​ several years ago when only a​ few lenders offered prime mortgage products to​ people with stable employment.
The UK home loan market has therefore evolved considerably in​ only a​ few short years and the​ need for expert mortgage advice has never been greater .​
Advice on​ mortgages is​ no longer the​ sole domain of​ overbearing bank managers and because of​ this the​ financial intermediary industry has flourished.
Mortgage Advice Providers
Because of​ the​ increased sophistication of​ the​ mortgage market it​ is​ wise to​ seek advice from either an​ independent mortgage broker or​ financial adviser when searching for your next home loan.
Independent mortgage brokers have specialist software that can scan the​ entire mortgage market in​ minutes,​ helping them to​ provide quality mortgage advice that will help you​ choose the​ right product for your individual circumstances .​
The right mortgage advice can help you​ save money over the​ term of​ the​ loan,​ whether it​ is​ for a​ buy-to-let property or​ your own home.
Likewise,​ independent financial advisers (IFAs) can sometimes provide advice on​ mortgages as​ well as​ ancillary finance products such as​ insurance and pensions .​
Often these products go hand in​ hand with mortgages so it​ can be a​ good idea to​ receive mortgage advice from an​ IFA if​ you​ have one already.
If,​ for example,​ you​ are looking to​ purchase or​ remortgage a​ buy-to-let property your IFA may be able to​ provide you​ with advice on​ which mortgage products to​ apply for in​ addition to​ any investment advice they may provide to​ you.
If you​ are seeking a​ mortgage for your own home your IFA may be suitable for providing you​ advice on​ both your home loan and your home and contents insurance .​
You may also use the​ opportunity to​ receive advice on​ life assurance product or​ mortgage and income protection insurance.
Where to​ Seek Mortgage Advice
Finding a​ mortgage broker or​ IFA who can offer you​ mortgage advice has never been easier .​
There are thousands of​ registered mortgage brokers and IFAs in​ the​ UK,​ many of​ whom advertise on​ the​ internet and in​ the​ local press .​
There is​ also a​ wide range of​ online and offline directories which contain listings of​ mortgage brokers in​ most local areas .​
However,​ with the​ ease of​ communicating over long distances these days,​ it​ is​ not always necessary to​ receive mortgage advice from a​ local mortgage broker.
You may also seek out referrals from friends of​ relatives .​
Mortgage advisers and IFAs sometimes specialise in​ different fields of​ financial advice which means that not all advisers will be suited to​ providing you​ with information on​ the​ specific issues you​ are seeking advice on​ .​
a​ positive referral from a​ friend or​ relative may therefore save you​ the​ time and hassle of​ finding an​ adviser yourself and reduce the​ risk of​ inappropriate advice.

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