General

What Does a Mortgage Adviser Do?

0 5

Were you aware that about 66% of the people applying for a mortgage in the UK never set foot into a Bank or Building Society? That is because two thirds of the applications put forward are processed by Mortgage Brokers or Adviser.A Mortgage Adviser is a person who is qualified to give you advice on the best mortgage scheme available to your needs.A good mortgage adviser will look at your situation and then give their advice on these areas:-Length of mortgage term.

-Best rate available given your credit history.

-Interest rate type.

-Lender service levels.

-Repayment type.

Plus many, many more factors.As well as sorting out your mortgage, the very best advisers will also make sure that you leave the property, when you want to leave it not when some burly bailiff tells you to. They do this by making sure that you have adequate insurance cover in place. The very best will also help you with the other matters involved in making a house purchase such as negotiating with Estate Agents, and completing legal paperwork.Not all Mortgage Advisers are the same though. Some are “whole of market” meaning that they deal with enough lenders to be classed as Independent by the FSA (the Government’s Financial watchdog), whilst others are “tied” meaning that they only deal with a select few Banks and Building Societies.Also, some Brokers will charge a fee to give you advice, whilst others are paid a “procuration fee” by the lender involved.

I believe that it is very important to discuss your situation with a good Mortgage Adviser before putting pen to paper on a home loan application. You wouldn’t try to take out your own wisdom teeth. You would never consider carrying out a large Civil Engineering project from scratch. So, when it comes to making the biggest purchases of your life, consult with the professionals and make sure you get it right.

About the author / 

Admin

Leave a reply

Your email address will not be published. Required fields are marked *

three + four =

POPULAR The most recent

  • What is Merchant Cash Advance for Businesses?

    With the advance cash to the merchant, a financial company makes a loan advance of his working capital in exchange for a percentage of his daily sales through credit cards. This can be a quick and easy way to get investment capital without the need for a guarantee – even if you do not have an…

  • Top 10 Mutual Funds To Fund Your Child’s Education

    In an era plagued by grave economic challenges, finding a safe and secure financial instrument to invest in is indeed a tough job, especially when the financial objective of the investors is to fund their child’s education. This is why most people tend to either rely on their savings or prefer to approach a lending…

  • Get a Detailed Comparison of Personal Loan Interest Rates across Banks and NBFCs

    There are many banks and NBFCs that offer personal loans, each of them have different set of criteria for loan approval and interest rate. An interest rate makes a difference in the total loan cost. When it comes to a personal loan, you should always take into account the rate applied. Being an unsecured loan,…

POST TAGS

LATEST COMMENTS

    Find Us on Flickr

      GET IN TOUCH

      Mortgage Advisor Help is article directory operate by Peter a blogger and the content writer. Have a flair for writing Advertising, Blogs for Business, Mortgage, Loans, Fame, Marketing, articles and want to have it read by readers who share the same passion and interests. Feel Free to contact for any Question using our Contact Form.

      Stay up-to date with the latest news and other stuffs, Sign Up today!