Sunday, June 30th, 2019
A recent survey conducted by Legal & General (“L&G”) has revealed that around 30% of borrowers who went direct to a lender for their mortgage didn’t know or perhaps did not fully understand how a professional mortgage adviser could help them with their search for a mortgage.
In our view here at Caboodle Finance, by restricting their search to just a few lenders, thousands of borrowers will have potentially missed out on getting a better mortgage deal.
When asked why they did not use a mortgage broker, it seems that many respondents were under the impression that the role of a broker was simply to support the lender and were not aware that by using one would have had given them access to a much wider range of lenders and their offerings.
Many of the borrowers who participated in the survey also commented that they went direct to a lender because they believed it would be easier or alternatively, they were under the impressions that lenders would automatically give them their best deal anyway.
All of this seems to suggest that the mortgage industry needs to better explain the inherent value that great mortgage advice can provide to prospective borrowers.
The L&G survey also went on to say that over ninety-eight percent of borrowers who used a mortgage adviser commented that the support and professional advice they had received was ‘valuable’ and certainly worth any fee they had to pay. Furthermore, ninety-five percent would happily recommend using a mortgage adviser to their family and friends.
The team here at Caboodle Finance always do their utmost to ensure that our clients always receive the very best mortgage advice and consequently get access to the products that match their circumstances.
To understand more about how our friendly approach could help you, please call Caboodle Finance of Sutton Coldfield, Birmingham on 0121 308 9114 for a no obligation confidential discussion with one of our specialist mortgage advisers or, alternatively, just click HERE to contact us online via our website and one of our experts will be in touch.
Caboodle Financial Services Ltd
Mere Green House
46-48 Mere Green Road
West Midlands B75 5BT
Telephone: 0121 308 9114