When shopping for a new mortgage, it might seem sensible to stick with the devil you know - namely, your bank. But is this really the right thing to do?
There are so many mortgage lenders offering so many loans that it is difficult to see how anyone outside the industry could ever be well informed enough to make the right decision when it comes to evaluating home loans. Even if a borrower has the time and the inclination, trying to evaluate all the different options and lending caveats can be very difficult. Which is why, in large part, specialist mortgage advisors exist. But that’s not the only reason.
You see, it’s all down to what sort of mortgage advisor you are speaking to. Some advisors are restricted in what they will consider. Others are employed by just one lender, such as your bank, which means that they are there to sell you their product, not evaluate what’s best for your individual circumstances. The obvious choice is to choose a Mortgage Adviser who is totally independent and can look at the whole market
Furthermore, with banking becoming less and less personal by the day, lending decisions are now almost entirely dependent on specific financial data and matrices held on potential borrowers. The days of the prudent bank manager in your local branch office ‘taking a flyer’ and lending to his long time customer are long gone.
There is a place for banks and a stable banking history will help support a borrower’s loan application, but when it comes to mortgages your best port of call is a whole market mortgage advisor. Contact Mortgage Required on 01628 507477 to speak to an adviser today.
Related article:
Download our Free First Time Buyers Guide
Recent posts
Decorating Tips for Selling Your Property
14 days ago
Selling up? It’s important to make your house as appealing as possible to potential buyers. Good decorating can help with first impressions, and increase the perceived value of your property.
20 Budget-Friendly Activities
25 Aug 2023
With the cost of living affecting so many of us, we have made a list of budget-friendly activities and ideas for you.
Moving and Packing Tips for a Stress-Free Move
21 Jul 2023
Moving soon? It's never too early to get organised! Be prepared and avoid unwanted stress by checking out our list of tips to get you ready for moving day.
What is the UK Inflation Rate?
27 Jun 2023
Inflation simply put, is the increase in the price of something over time. The Office for National Statistics (ONS) tracks the prices of hundreds of everyday items and these items are updated to reflect shopping trends.
Debt Consolidation into a Mortgage
20 Jun 2023
We are often asked if it's good advice to consolidate “unsecured” debt (credit cards and loans etc) into your mortgage, the answer is, sometimes.
Parking Rules Explained
16 Jun 2023
When you’re looking to buy a home, and you own a car, you ideally want to know the rules on parking in the area. Parking rules can be confusing, even for the most experienced of drivers! This is why we have written this blog to help you.
Sources of Deposit to Buy a Property
6 Jun 2023
There are several potential sources you can consider when it comes to getting together a deposit to buy a property. Providing proof of the source of your deposit is a key requirement in the application process and will need to be given to both the lender and the solicitor.
More information
Trusted by
