Why use a mortgage adviser?

With so many mortgage lenders offering their products on the high street and online, it can be tempting to cut out the middleman and ‘go direct’.

But when you’re making such a huge financial commitment, the guidance you can get from a qualified mortgage adviser can be invaluable.

Here are five ways an Openwork mortgage adviser can make a difference to your mortgage search:

1. They know what a good deal looks like

It’s easy to underestimate the costs involved when buying a property or a taking on a mortgage. An attractive rate may appear good value, but this could change once you factor in things like fees, loan conditions and the mortgage term.

An Openwork mortgage adviser will compare a wide range of lenders and thousands of mortgages on your behalf – but, importantly, they will look beyond the rate. They will help you understand how the length and type of loan will affect how much you pay over the longer term, and highlight any additional costs you should be aware of (like administration fees, booking fees and valuation costs).

By considering all these elements together, they will be able to recommend a solution that’s right for your individual circumstances.

2. They know the market

If your mortgage needs or circumstances are ‘out of the ordinary’, you may find it a little more difficult to find a mortgage.

An Openwork mortgage adviser can save you the time and hassle of trawling the market, and help you find a lender willing to provide your loan.

3. They can do the hard work for you

Selecting the right mortgage is just the start. An Openwork mortgage adviser will work with you to complete all of the necessary application forms, liaise on your behalf with solicitors, valuers and surveyors, and help make the process as smooth as possible.

4. They’re professionally qualified

Unlike many branch and telephone-based mortgage sellers in banks and building societies, Openwork mortgage advisers are fully qualified to advise you on a broad range of lenders and products. This means you benefit from genuine choice coupled with quality advice.

5. They look beyond the mortgage

An Openwork mortgage adviser is trained to consider the bigger picture when it comes to advising you on your mortgage. For example, they can help you safeguard your home by recommending products that can financially protect you and your family, should the unexpected happen. They can also recommend providers that can help with other elements of the home buying process, including solicitors and surveyors.

Finally, if you want them to, your adviser can stay in touch with you into the future, to ensure your mortgage and protection arrangements remain appropriate for your needs.

Your home may be repossessed if you do not keep up repayments on your mortgage.

There may be a fee for mortgage advice.  Your Openwork adviser will confirm the details of any fee to be payable.

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