Benefit of independent mortgage advice
When to ask for help.
When you’re not well, however tempting it is to ask Dr Google, we all know we should speak to a doctor.
For anyone contemplating building a new home or an extension, it’s best to ask a qualified architect and structural engineer for advice before digging foundations.
These days, given the complexities of the modern engine, most of us would prefer to ask a mechanic for advice rather than fix a broken vehicle.
In all cases, if we’re not sure the person has solved our problem, we’ll always take a second opinion before acting on the advice.
So why is it, when we take out probably the largest loan of our lives, many of us are happy to rely on a Google search or take the word of our existing lender?
Doesn’t it make more sense when it comes to your biggest asset – your home – that you talk to a qualified mortgage adviser? Whether you’re on the hunt for a new mortgage deal, want to remortgage, or sell up – or even if there’s a change in circumstances that could have a direct impact on the property you own, the best advice will always come from a fully trained financial expert.
Sadly, all too often we don’t though. Particularly when we get to the end of a fixed rate when we should consider whether the mortgage can be used to improve our financial situation.
Why remortgage at the end of a fixed rate mortgage term?
The consequences of not being on top of your mortgage and not seeking advice means you could automatically be moved by your lender to their Standard Variable Rate (SVR), and this can be costly. Staying on the SVR could cost you several thousand pounds.
What about online mortgage comparison sites?
It may seem the easiest solution is to use a comparison site to source your next mortgage. But beware!
Although a comparison site might find a cheaper mortgage deal, it may not suit your individual situation. If you have been furloughed during the pandemic, or sadly lost income through redundancy or reduced hours, you might be led to believe remortgaging will be difficult.
While this may be true, talking to an expert in mortgages will give you personalised advice, based on your unique situation.
Ask an Independent Mortgage Adviser
Just like talking to a doctor can ease your health worries, so to talking to a mortgage expert can help ease your financial worries.
At The Mortgage Expert, we listen to your circumstances first and offer advice second. We’ll work with you to find the right solution for your needs. Our advisers check all the deals on the market, just like a comparison site, and will help you through every step of the remortgaging process to make sure the process goes smoothly.
Talk to an adviser today to check whether you’re on the right mortgage deal for you.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE