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

With the stamp duty relief ending in England and Northern Ireland, we have listed the top 10 cheapest areas for first-time buyers as published by Rightmove. 

Are you looking to purchase your first home but unsure where to begin? Here are some tips to get you started.

Choosing which fixed rate to go for has been a dilemma for many of our clients so far this year. There really isn’t a right or wrong answer, but below we will look into the pros and cons of a two-year and five-year to help you make the right decision for you.

Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.

Call us for more information: 01628 507477 or email: team@mortgagerequired.com.

According to Rightmove, a whopping 500,000 UK homebuyers are rushing to finalise their home purchase before the new Stamp Duty rules change in April.

The UK government is introducing new rules for Energy Performance Certificates (EPCs) that will impact landlords. Here's a summary of the key changes

Choosing to buy a house is one of the biggest decisions you are likely to make in your lifetime. There are many factors that influence a house purchase, these include: finances, housing market conditions, and mortgage rates.

Since being launched back in 1999 Individual Saving Accounts (ISAs) have been very popular for those wanting to put money into savings. There are four types of ISA, and the majority allow flexible saving and the ability to withdraw funds easily. There are financial penalties on certain products, these usually pay the most interest.