A recent survey by Which Magazine criticised the mortgage industry in relation to mortgage advice. They checked 50 mortgage advisers and then rated the quality of the advice and information provided.
Sadly, their findings showed a poor level of satisfaction with mortgage advisers not providing the mortgage advice service that was expected. This is disappointing news to read and our industry should be professional enough to do the basics right.
Getting good mortgage advice should not be difficult. Ask family and friends to recommend a mortgage broker they have been happy with. Most mortgage brokers receive the majority of their new clients via recommendations. Check that the mortgage broker is either independent or whole of market so you have the widest choice of mortgages. Ask up front about fees and charges. And don’t forget you do not have to buy insurance from your mortgage broker. Take your time to consider what is best, although it is prudent to protect your mortgage with life insurance and mortgage payment protection insurance (MPPI) in case the worst happens.
If you would like to discuss your mortgage requirements please call us on 0800 316 5756.