Four Great Reasons to Use a Mortgage Advisor

Once you’ve raised your deposit, it may feel like you’re ready to go full steam ahead into getting a mortgage so you can buy a property in London. But we’d encourage you to hold your horses for just a little bit. Buying a property is a huge investment, so you need to be sure that you’re getting it right.

That extends further than buying the right property too. You also need to get the right mortgage product for your needs.

That’s harder than it sounds. With so many products on the market, you’ll have to spend an eternity sifting through them all.

A mortgage advisor can help. Here’s the lowdown on why using one may be a good idea.

Less Research

When you go it alone, you’re going to have to research every mortgage product that you find individually. Sure, comparison and aggregation websites can help you to whittle the list down. But you still have to spend hours of your time trying to figure out what different interest rates and features actually mean.

With a mortgage advisor, you place all of that work into the hands of somebody else. Advisors already understand all of the terminology and complexities of the market, which makes them well positioned to find a mortgage product that suits your needs.

Access to More Products

Another good thing about mortgage advisors is that they have connections in the industry. As a result, they can access mortgage products that you may never come across during your own search.

This may include products from the major lenders that they don’t necessarily advertise on their websites. But it also means you get access to products from smaller lenders that may not show up on aggregation sites. Simply put, you get access to a greater variety of products with an advisor.

Extra Protection

A mortgage advisor is legally obligated to find the best product for you. That’s an instant relief to anybody who’s worried about working with an advisor who’s just in it for the money.

You get protection when you’re working with an advisor. They have to recommend products that suit your budget and earnings. This benefits you in two ways. For one, you know that you won’t end up with a mortgage that could cause you serious problems down the line. Secondly, should the advisor break this duty of care to you, you’re able to chase them through legal channels to get compensation for their bad advice.

Access to Advice

As the name implies, an advisor offers advice. This means that they can tell you more about what the various aspects of a mortgage mean. Better yet, they can help you to relate that information to your current financial situation.

Simply put, you have somebody available who can answer any questions that you might have. This extends beyond the mortgage products too. A mortgage advisor can tell you more about the various processes that go into buying a property. That’s invaluable advice that you can only otherwise get through hours of research.

So, those are the reasons why you might want to use a mortgage advisor instead of going it alone. But you also need to find the perfect property in London. That’s where the Hills Estate team can help. Browse our selection of properties today and we’ll help you to find your forever home.