The whole process of getting a mortgage or applying for a remortgage can be pretty stressful. There are so many factors to consider, there is lots of paperwork to sign, deals to find and it can all get a bit overwhelming.

Getting mortgage advice from an expert mortgage advisor rather than doing it all on your own can be a huge weight off your shoulders.

Avoid Unsuitable Mortgage Deals

Seeking mortgage advice not only means you can “sit back and relax” but it also means that you can avoid choosing a mortgage that isn’t right for you. If the mortgage turns out to be unsuitable later on, you’ll have support with your rights if you were to make a complaint or make a change.

Not taking any advice means you have to take full responsibility for your mortgage decision and having the wrong mortgage for your situation could be a costly mistake in the long run. There can be many long and complicated situations when not having a mortgage advisor to help you. One of the biggest and most long-winded issues is being rejected by your chosen lender because you didn’t understand the restrictions clearly or the circumstances that the mortgage was designed for.

House Model On Mortgage Advice Desk

Mortgage Advisors Know the Best Mortgage Deals

With their extensive knowledge of the industry, independent mortgage advisors can find the best deals and mortgage solutions that you may not have otherwise had access to. This helps you to save money long term and rest assured in the knowledge that you have found a good mortgage deal.

Take the Stress Out of Getting a Mortgage

By choosing an independent mortgage advisor, you not only form a great connection through open communication with the broker, but you also avoid being passed around to different people at mortgage solicitors

Lenders (usually banks) and brokers must offer advice when they recommend a mortgage for you. They’ll assess the level of mortgage repayments you can afford, by looking at your income as well as your debt repayments and day-to-day spending. This means you have the best possible chances of getting a mortgage that is tailored to your needs.

Stressed Couple Seeking Mortgage

Although lenders and brokers must offer advice in almost all cases, you are able to choose to reject the advice and find your own mortgage deal based on your own research or external mortgage advice. Choosing a mortgage without advice is referred to as an “execution-only” application.

Risks of Not Getting Mortgage Advice

When you get regulated mortgage advice rather than doing research on your own, your independent mortgage advisor will recommend the most appropriate mortgage for your needs and circumstances. Not getting advice means you have to take full responsibility for your mortgage decision.

If you don’t get advice, you could end up:

  • With the wrong mortgage for your circumstances (a potentially long term costly mistake)
  • Applying for a mortgage that doesn’t fit the lender’s criteria and being rejected

House Keychain in Door

More Reasons to Find a Mortgage Advisor

  • They’ll check your finances thoroughly to make sure you are likely to meet the individual lender’s lending and affordability criteria
  • They have access to exclusive deals with lenders, not otherwise available
  • They can help you complete the necessary paperwork, so your application will be dealt with faster
  • They’ll help you take all the costs and features of the mortgage into account, beyond the interest rate
  • They will only recommend an appropriate mortgage for you and will tell you which ones you’re likely to get
  • They will offer ongoing support and advice even beyond when you have found the right mortgage for you
  • They can help with a variety of areas including remortgages and insurance advice
  • They can help first time buyers do mortgages right, first time

Contact The Mortgage Mom

As an independent mortgage advisor in Birmingham, The Mortgage Mom offers advice in a way that simply makes things easy. Easy for you and your situation. We make sure that you can look forward to your new house and be comfortable in the knowledge that you’ve got things covered when it comes to mortgages. Get in touch with us today to find out more about how we can help you.