Lets hypothetically consider if you could reduce your mortgage repayments by just £20 per month spread over 25 years. This would total £6000 that has remained in your pocket, which I am sure you will agree is a substantial amount. If you think it is worth 5 minutes of your time then read on!
The type of mortgage advisor you speak to can make a BIG difference. Some mortgage advisors can only place mortgage applications with a limited number of lenders, whilst others have access to the 'whole market'. So what does this actually mean? Well a 'whole of market' advisor has a much larger choice of lenders and products to look at for you, which means they are more likely to save you money!
Finding A Good Mortgage Advisor
Finding a good whole of market mortgage advisor will have massive benefits, because he/she will have your best interests as their priority. The chances are you will recommend them to friends & family and remortgage in a couple of years. So everybody is on the same side.
Good Advice Is 'Fee Free'
The majority of independent mortgage advisers are very happy to provide advice on a 'fee free' basis. So what does this actually mean? Well they still get paid as nobody works for free, but they get paid by the lender for placing the mortgage application!
Is Fixed Fee Advice better?
You may prefer paying your mortgage broker a fixed fee, and they give you what the lender pays them for placing the mortgage. This option should be offered for an adviser to be classed as providing 'independent advice' and there is no clear answer if this is better. You should talk through the options with your advisor..
Remortgage & Save a few quid on Interest - WHY Bother?
We all spend the majority of our time at work or with the family, with very rarely any time left over for anything else. So the last thing in the world that we want to do is spend an evening talking shop with a mortgage broker.
Who Needs a Mortgage Broker!
Who needs a mortgage broker, all they do is borrow your watch to tell you what the time is. The data base of mortgage lenders and products that they have access to is no different from what you or I could find out for ourselves. Anyway my bank is really help full and the adviser there will bend over backwards to help me.
The End of Interest Only Mortgages?
Interest only mortgages could soon be a thing of the past, according to a new report released by the Intermediary Mortgage Lenders Association (IMLA).
