Get a Free Mortgage Check to Choose the Right Financial Adviser

mortgage check by financial advisor

Mortgages are financial loans taken to buy property or land for a long or short period. However, the loan is secured off until when the payments are fully made.

Independent financial advisers research on the different mortgages in the market and are able to compare them. They also look into the mortgages that are not offered directly to customers. They, therefore, advise their clients on the best deals they’ve found.

The financial experts don’t advise on execution only mortgages. This is undertaken by clients who are not willing to seek financial advice, although they are offered under limited circumstances. Such clients are expected to know what type of mortgage they want, the kind of interest they want to borrow at, as well as the duration it will take them to make the payment. However, the client is allowed to confirm if he or she is aware of the consequences that come with taking a mortgage without seeking advice. This is because the lender at some point indicates in the case of any misunderstanding.

mortgage check by financial advisor

Image Courtesy –

Financial experts always aim at helping the client to have acute information about the mortgages they are part of. This is because they have also paid for the full financial advice they require. They, therefore, ensure that their client’s satisfaction is at stake. The financial experts ask their clients a series of questions to understand their financial position and how much money the client is willing to part with. At this point, they aim at getting the client’s information. They take the client through a fact find which is a detailed affordability assessment, where the client is expected to provide evidence of their income and specific expenditure.

Professional financial advisers encourage their clients to make huge deposits as they take the mortgages. These deposits always go towards the sale of the property that the client is buying. This is because, the higher the deposit, the lower the interest, and vice versa.

A good mortgage adviser is always up front with his or her client. They always ensure that they are honest and always inform the client in case of any extra charges. Some mortgage advisers do not charge their clients directly, but they later include their commission in the mortgage which they split later with the lender. It’s always important for them to be transparent enough.

Financial advisers also ensure that they’ve provided important information that the lender could miss out on. They tell their clients how often their interest is charged whether monthly or weekly but on daily basis, it’s always cheaper. They also give advice on the standard rates to which the mortgages switches to once the fixed rate deals are over.

The adviser gives some advantages on the mortgage such as flexibility, whereby the client may make an overpayment without being charged. They could also take a break from making payments in case of a financial constraint.

Finally, all mortgage advisers must give advice to their clients while recommending the most suitable mortgages for them. This is a strategy to protect the clients since they have a right to complain if anything goes wrong.

When thinking of getting a mortgage, it’s advisable to seek the services of a financial adviser who has vast experience in matters of mortgage.

Share This: