5 Key Benefits of Using an Independent Mortgage Advisor

A mortgage is the largest financial commitment most of us will make. Accessing accurate information and advice is essential to making an informed decision on any financial commitment. That’s even more important when it’s a decision you could be living with for the next 25 years!

An independent mortgage advisor can provide that information, but that’s not all they can do.

We’re going to highlight 5 key benefits of using an independent mortgage adviser to showcase just how useful professional advice can be.

1.   Make sense of a complicated market

You don’t need us to tell you the world of finance is complicated to understand. Unless you work within this world, it’s a mess of terms and conditions, legalese, incomprehensible phrases and more small print than the Bodleian library.

An independent financial advisor can translate everything you don’t understand into plain English. This forms the basis of a whole new understanding of just what mortgages are out there and what will work for you.

2.   Independence

The clue is in the title but it’s such an important aspect that it deserves more airtime. An independent financial advisor is exactly that. Independent. They will offer impartial advice across the entire market and will be able to recommend products based on fact and not just commission.

Where there are commissions, the independent financial advisor will make it clear when discussing them.

This independence is incredibly valuable in a world where you never know who owns what bank or lender or who has a vested interest. An independent financial advisor is like a breath of fresh air in a seemingly inhospitable financial world.

3.   They have your best interests at heart

As well as being independent, a financial advisor will work for you and not for mortgage companies, a bank or any other interested party. Having an expert on your side, with your needs and interests at the centre of all their advice, is invaluable.

They can help you navigate the mortgage market and make recommendations based on your personal needs. They can even help you with the paperwork, pre-qualification and the application too!

The financial market has come a long way to making itself more understandable to those outside the industry. Yet nobody will pretend all the work is done. Financial products like mortgages are incredibly complicated and require an expert’s eye to assess whether they are worth your money or not.

4.   Save time

In an ideal world, we would have the time and energy to learn everything there is to learn about mortgages before signing up for one. But this isn’t an ideal world and we don’t have that kind of time.

That’s when using the expertise of someone who has learned the market and does know everything there is to learn in an ever-changing financial marketplace.

There is a lot of time to be saved working with an expert. They will know in minutes whether a particular mortgage is a good idea or not. Something it would take many of us hours to even scratch the surface of.

5.   Get the best deal for your needs

Probably the best advantage of using an independent financial advisor is the knowledge that you’re getting the very best mortgage for your needs. Not a boilerplate mortgage where you tick the most boxes but the product ideally suited to your current, and future position.

Mortgages come in all shapes and sizes, with all kinds of costs and caveats. Your independent financial advisor will take the time to learn who you are, what you want now and what you’re planning for in your future. Few bank staff will ever have the time for that!