Do you need a mortgage broker?
Do you need to use an independent mortgage broker?
You might be tempted to go it alone when looking for a mortgage thinking that you will save money, but an independent mortgage broker will usually save you more money than their fees cost.
There are also a number of other reasons why you should seek the advice of an independent mortgage adviser.
An independent mortgage broker will give you a bigger choice of products
A single mortgage lender will not have a huge range of products to offer you and will usually not give you their best possible deal.
An independent mortgage broker, on the other hand, is not tied down to a single lender, and can find the best deal for you from across the entire mortgage market.
The best independent mortgage advisers will also be able to find deals not available on the open market.
Using an independent mortgage broker gives you greater protection
All mortgage advisers need to be qualified in order to advise you. In the rare cases in which you receive bad advice, you can complain and receive compensation.
However, if you go straight to a mortgage lender, it is up to you to make sure the deal is right for you. If you later find out the deal is not suitable for you, you are much less likely to receive compensation.
An independent mortgage broker can advise you about related financial products
While a mortgage lender just wants to sell you a product, the best independent mortgage brokers care about all of your circumstances.
They will look at related financial products you may need, such as contents and buildings insurance, and life cover to ensure you can afford your mortgage repayments even in the event of an illness or if you lose your job.
All independent mortgage brokers are qualified to give you advice
Independent mortgage advisers are trained in all the complicated regulations surrounding mortgage lending. They also know all the terms and conditions to look out for when finding you the best mortgage deal.
There are lots of different mortgages from different providers, all with different terms and conditions, so finding the right mortgage for you can be very difficult. Seeking the advice of an independent mortgage adviser will make the process a lot simpler and less stressful.
Get in touch with Oracle Consultants
Oracle has many years of experience in helping people find the best mortgage deals. If you want to hear more about how we can help, please get in touch to speak to a specialist consultant.