Our mortgage renewal is due at the end of July and we’re looking to get the ball rolling, so any recommendations for mortgage advisors please?
some advisors have access to special deals. You are of course free to search yourself but be aware some of the comparison sites are on kickbacks too and don’t always show you the best deals your current lender will offer you there best rate but it might not be the best on the market or the most appropriate for you.
Many have said it but would definitely recommend @Journo Tyke helped us massively last year and after our experience with him wouldn't even bother looking elsewhere for help again.
I could write a list that would take half an hour of all the potential reasons why someone might need to and all the benefits and help it can lead to. I save the majority of my clients money in various ways even taking into account the fee.
Because the system is set up against the consumer. Mortgage advisors have access to deals we don't which are funded by overall mortgage costs and payments between various agencies. It's incredibly unfair, which pretty much sums up the whole process of owning/buying a home.
In fairness, lenders more and more now want their customers to get regulated advice before borrowing huge sums of money, so they try and incentivise them to use a broker by giving brokers access to better deals sometimes. Before I became a broker, I used to wonder why people would use a broker, however I always had very simple circumstances and already worked in financial services. Now, I’d recommend almost everyone use a broker (not just because it’s my living!) for a variety of reasons. From a lender perspective also, we do a lot of legwork that saves them time and hassle, such as requesting documents, assessing them, submitting the right proofs for the underwriter. It’s much slicker than clients doing it themselves. I also include a free no obligation protection review as part of it, to make sure people are covered if anything goes wrong; stuff like life insurance, income protection etc. That’s another type of product where people should always get advice, and we don’t charge for that at all. So, I wouldn’t say it’s unfair that brokers can access marginally better deals sometimes as it helps more people to get proper advice when taking out a mortgage.
In fairness you would think that given your job. And I have no doubt you are fair and good at it given the glowing reviews on here. The whole system is however corrupt (like most things sadly) I too use a mortgage advisor because it does indeed work out cheaper. It really shouldn't though. Mind you even school syllabuses are set up not to teach children how to handle finances. It does make you wonder why sometimes.
Totally agree that financial education should be an integral part of school from a certain age. Crazy how we spend time learning stuff that’s of no life importance and not things like money, debt etc.
Apologies if it seemed like I was having a dig at you was not my intent at all. And yes it's something that really gets to me. The amount of people I've heard over the years at work who have credit cards and no idea how the interest is calculated and the consequence of paying the minimum payment. Its shocking really and makes me think its intentional not to educate people.
