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Guide to using an adviser for remortgaging

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Most people arrange their mortgage through an adviser, and even if you are an experienced remortgagor you could benefit from professional help
Guide to using an adviser for remortgaging

The advantage of using an independent adviser in any mortgage scenario is that they are professionally qualified, they have access to all of the mortgage deals on the market and they are duty-bound to find the most suitable deal for your needs. Which presumably explains why more than 80% of all mortgage deals have been arranged via advisers in recent years.


Mortgage advisers and remortgaging

If you are simply transferring from your current deal onto your existing lender’s standard variable rate, or going for a new rate with your lender, in most instances you will not need an adviser’s help, as the process should be straightforward.

However, if you are looking for a chepaer deal, intending to extend your borrowing, going for a further advance or consolidating debt, an adviser can be worth their weight in gold.

Despite the fact that you are not a novice when it comes to mortgages, lenders’ criteria change all of the time, and mortgage advisers keep abreast of these changes. So they are best placed to sort out your new arrangements with a new provider as painlessly as possible.

Even those with a comprehensive knowledge of the mortgage market will often use an adviser, if only to do the legwork.

As you may know, advisers are working professionals and will always need to be paid, although they have different means of charging. Some will ask for an upfront fee, some are paid commission by the lender, and some receive a combination of the two. They are obliged to tell you upfront how they will be rewarded and how much commission, if any, they will earn.


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