Benefits Of Hiring A Mortgage Advisor


What should you do? Should you try to find out the best mortgage deal or give a buzz to some mortgage advisor in the town?

Every potential buyer has this question in mind. The decision is purely personal. If you find yourself confident in dealing with the mortgage agent, then there is no harm in trying personal efforts.

However, if you are not a good negotiator, then hiring a mortgage advisor is better.

And it is not just the question of personal capabilities. There are several other benefits as well that will make your opinion in favor of calling a mortgage advisor.

Here are the top seven benefits:


#1 Proper consultation and advice

It is in the interest of the mortgage advisor to make the client happy. Hence, he doesn’t leave a stone unturned to give consultation over the phone or in person.

A mortgage advisor will draw upon the comprehensive knowledge of the market to recommend on the deposit amount, pay structure, income, and future plans.

You can ask the advisor questions about the mortgage process and get satisfactory answers.

#2 Access the wide range of product options

An advisor will have access to many mortgage dealers. Hence, you get a better deal. Instead of relying on a bank, which offers a limited set of products, you should call a mortgage advisor.

He finds the perfect fit for you.

#3 You get exclusive rates

There are exclusive rates and mortgage criteria options to advisors, but they are not visible to the direct customers, sometimes.

When you hire the right advisor, you needn’t worry about that. You now have excess to all exclusive offers that otherwise are not available to the public.

If you apply directly to a lender, you may get some loan amount at some terms and conditions. When you apply through a mortgage advisor, you may get a higher loan amount at similar terms and conditions.

An advisor can also ensure that some unusual income types are also considered as valid incomes, e.g., contract or bonus-based earnings.

#4 You get unbiased recommendations

When a mortgage advisor works for you, he ensures that the best offers are shown to you without any bias.

Getting an expert mortgage advisor is a key to get a good deal. It is a big financial decision to hire an advisor.

#5 You get help in the application process

Once you hire an advisor, he understands your needs and requirement; you get complete assistance in applying for it. He ensures that all the necessary forms are filled without any mistake.

He also ensures that you submit all required documents in one go, and the application goes through smoothly in the first attempt only.

#6 Mortgage advisor liaises with all parties to take the application to completion

The advisor doesn’t sit idle from the moment he signs off the contract. His objective is to get through the case as early as possible.

For that, he liaises with all parties involved in the mortgage case. He doesn’t rest unless the contracts get exchanged, and the purchase gets over.

How to pick the best mortgage advisor?

You have to be cautious while choosing the advisor. There are several companies around, and you need the best one.

One way is to shortlist three-four advisors after initial level scrutiny. The market is competitive, and everyone will try hard to get the deal.

When to see a mortgage advisor?

A mortgage advisor is also called a mortgage broker is the specialist with a complete understanding of the mortgage process.

He looks at the list of mortgage products and suggests what the best for you is.