Your 3 Choices On Who To Help You With Your Mortgage

23 April 2019
help with your mortgage

When you are looking to get a mortgage it really helps to use a professional to guide you through your options. You want someone who has experienced it all before to let you know how to get the most from the process. In the UK you really have three options on who will guide you through the process of getting a mortgage. Here is my guide to your 3 choices on who to help you with your mortgage.

Independent Mortgage Adviser

An independent mortgage adviser can access deals from a wide range of mortgage providers to help you get a great deal. They are not tied to any lender (hence the term independent) so they can look for the deal that works best for you. They have access to enough lenders to be considered “whole of market.” You stand the best chance of getting the deal that is right for you.

Help With Your Mortgage: Mortgage adviser with an estate agent

Typically a mortgage adviser with an estate agent will have access to between 5 and 10 lenders. All estate agents will want you to see their mortgage adviser. All members of the team will be targeted on get a certain number of people to sit down with their mortgage adviser. Don’t feel pressured to do this but know that there can be some benefits.

The big estate agency chains in the UK will have a lot of influence with lenders. So they often end up with great deals that you can’t get anywhere else. Estate agency chains deliver a lot of business to the big lenders. You can benefit from this relationship by getting a great deal.

help with your mortgage

The mortgage adviser with your bank

We start to move down the scale with the number of lenders a mortgage adviser can access here:

An independent mortgage adviser will access anything up to a hundred lenders.

A mortgage adviser in an estate agency will access between 5 and 10 lenders.

The mortgage adviser in your bank will access only one.

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But they can be useful. If you struggle to find a lender via one of the other advisers then your bank may come up with the solution. They know you. And can often give you better terms and more leeway than a lender you have no existing relationship with. Think about your bank if other avenues fail.

If you are looking for a mortgage or to buy or sell your home then there can be a lot of new things to learn. My books are designed to help you understand the process and get the most from it.

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