Speak to an Adviser
When borrowing hundreds of thousands of pounds, the majority of people want the reassurance that they are signing up to the right deal. And, in a market where there are now literally thousands of products to choose from, a professional adviser can often be the quickest route to the best deal.
To speak to a mortgage broker, fill in the form below and we will arrange for a broker in your area to contact you to discuss your specific mortgage needs.
What is a mortgage adviser?
A mortgage adviser (sometimes known as an intermediary or broker) is a qualified practitioner whose responsibility is to identify your needs and objectives, research the market and recommend the product that best suits your needs. There are a number of different types of mortgage broker in the UK, and it is important that you understand the difference between them.
Who pays the adviser?
An adviser may charge you a fee, or they may receive commission from the lender they place your mortgage with, or both. Be aware that an adviser is only allowed to call themselves independent if they offer you the option of paying a fee, NOT commission. They are obliged to give you an Initial Disclosure Document (IDD) upfront, which will include how the advice will be paid for and how the payment structure works.
Can I trust an adviser?
Prior to October 2004, the UK mortgage industry was self-regulating. In effect, anyone could have set up as a mortgage broker, regardless of their experience. However, since October 2004, selling and advising on mortgages has been regulated - first by the Financial Services Authority (FSA) and currently the Financial Conduct Authority (FCA). So if you discover afterwards you have been given bad advice, you can complain to the Financial Ombudsman Service and potentially receive compensation. Mortgage advisers must pass a number of exams and become authorised before they are allowed to advise the public.
Basic reasons for using a mortgage adviser
- The best advisers have access to a wide range of available mortgage deals and can quickly sift through thousands of products to find the most suitable mortgage for you.
- They are fully qualified and experienced in their field, so they can explain all of the terms and conditions of each mortgage you are interested in and answer any questions you may have.
- They save you time. Advisers subscribe to computer systems that allow them to rapidly pinpoint the best deals available to you.
- They save you money. By finding you the most competitive interest rate and fee package, a broker can potentially save you thousands of pounds.
- They can get you exclusives. Many lenders will offer exclusive deals via brokers, with lower interest rates and/or lower fees than the high street can offer you directly.