So what exactly is ‘Mortgage Advice?’

Wednesday, August 31st, 2016

It is not uncommon for people to misunderstand what mortgage advice is or misinterpret what benefits can be gained from using a broker or adviser to get mortgage advice, be it for the purpose of buying a new property, remortgaging for a better product or capital raising, or even facilitating an investment property purchase (Buy to Let).

Why get Mortgage Advice from a Broker rather than a Provider?

There is a distinct difference between getting ‘advice’ from a high street mortgage provider, who will only be able to offer you a product from their own range, compared to getting advise from a broker such as Sutton Coldfield’s Caboodle Finance, who are able to offer you expert advice regarding a much more comprehensive range of mortgage providers.

Many people like to use tools such as comparison tables to try and find the cheapest mortgage available for them, and although these tools can be useful, unfortunately what they do not provide is the detailed criteria that will govern which product would actually be available to each individual based on their circumstances.

It is generally only possible to get full mortgage advice and a recommendation regarding the best and most suitable mortgage available for a persons’ individual circumstances and requirements by using a professional mortgage broker or adviser as they will know and fully understand the criteria and requirements of each lender, thus avoiding unnecessary enquiries or consideration for lenders’ who are unlikely in the final analysis to be able to assist anyway.

Good Mortgage Advice helps you look beyond the monthly payment

Choosing and recommending the most suitable mortgage is not just down to the cheapest rate or monthly payment, it also involves an understanding of a number of other aspects such as the short, medium and long term plans of the applicants, what if any changes they expect in their personal circumstances and what they want the mortgage to do for them.

All the different factors should then culminate in an adviser providing mortgage advice which recommends the type of mortgage (I.e. Fixed, Tracker, Variable, Off-Set etc.), the term of the mortgage based on affordability and budget, the features and benefits available that meet specific requirements and of course the mortgage provider that best fits those criteria.

So, if you feel in need of some impartial mortgage advice, click HERE to contact Caboodle Finance, of Sutton Coldfield, Birmingham or alternatively just call 0121 308 9114 today and our friendly team will be more than happy to help you.