Independent Mortgage Advice

Independent mortgage advice – what it is, what you can expect from it, and what do you need to consider?

There are various sources available to the borrower when seeking a mortgage. If you want your advice to be independent and impartial you need to ensure that you approach an independent, whole of market mortgage broker.

If you approach a lender direct they can only advise you on their range of products, also many mortgage brokers advise only on products from a limited panel of lenders, so check before you agree to proceed.

Your mortgage adviser should make the service they offer and costs involved clear to you at outset.

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Independent Mortgage Advice – the process

When you engage the services of an independent mortgage broker they will initially gain a clear understanding of your situation.  They will consider your income and outgoings, your key objectives, and any particular complication that make affect your application.

The next stage is to discount those lenders that do not offer a suitable product or are unlikely to accept your application.

This leaves a short list of products that meet your main objectives, from lending sources that will perceive you as a good risk.

Your independent mortgage broker will then make a recommendation of a suitable product and lender. Details of the product will be provided to you in writing.

Once you have had a chance to consider the product and have any queries answered, your broker will help you through the application process, dealing with the lender on your behalf. In this way you can benefit from access to the whole of the market, expert advice on which lenders will consider you, and a firm recommendation on a competitive and suitable product.

How your independent mortgage broker is paid

Your independent mortgage broker is normally paid a fee by the lender for introducing you as a client. In addition your broker may charge you a fee for their services.

Details of any fees charged will be explained to you before you incur any cost.

At A Mortgage Now we do not charge fees in the majority of cases.

You can access details of our full terms, including fees, on our contact page.