Why use a mortgage adviser?

If you are thinking about buying a new house, or your current mortgage deal is due to expire, you may be asking whether you should use a mortgage broker or just go directly to the bank. Buying a house can often put pressure on finances, with the cost of stamp duty, solicitors, moving fees and so on. We would encourage you to avoid the temptation of skimping by not using a broker with access to a wide range of lenders, or indeed using a fee-free broker or adviser who may only provide basic advice and not be familiar with the property market in the Bournemouth, Christchurch and Poole area.

Save money over the term of your mortgage

As of June 2024, Moneyfacts reported that there were over 6,000 mortgage products available in the UK, from a large number of providers. Each lender has its own target customers and criteria for mortgage offers, and their in-house advisers can only offer you these products. A lender could have highly competitive offers for self-employed borrowers but be less competitive for first-time buyers.

A mortgage adviser with access to a wide range of these lenders will have the expertise to recommend which will suit your individual circumstances and will know which lenders you are eligible to receive an offer from. This will save you the time and effort of dealing with multiple lenders, and by securing a rate even marginally better than you would have otherwise received, you will save money over the term of your mortgage.

Don’t get stuck with an out-of-date offer

With interest and mortgage rates fluctuating, you risk having an offer which is competitive today, but is out-of-date by the time you actually come to complete your mortgage. The process can take between three and six months, and whilst seeking advice early is always recommended, you don’t want to end up overpaying. Your mortgage adviser should actively review a huge range of lenders for you, and will take care of the process of reapplying for a better rate at any stage of the process. You won’t risk losing the offer you already have, but may be able to improve upon it should a better deal become available. Even a small change in rates could save you hundreds of pounds over the course of your mortgage.

Helping you to present the best version of yourself

When it comes to applying for a mortgage, you want to present the best version of your financial position. Most people are aware that things like income and level of debt are factors that lenders will consider and review before offering you a mortgage. However, there are many other factors such as your credit score, being on the electoral roll, and how you spend your disposable income which also come into the equation. A mortgage adviser will be able to provide the guidance to help you present the best version of yourself to lenders.

Working for you at all stages of the process, with local expertise

Property transactions involve numerous parties including estate agents, solicitors, sellers, surveyors and lenders. Ultimately, an estate agent is paid by the seller of the property, and their primary interest is in completing the transaction as quickly as possible. Your solicitor and surveyor will complete certain work for you, but are unlikely to go much beyond that fixed scope of work. Using a reputable, local mortgage adviser means you will have someone working for you at all stages of the process, helping to coordinate the moving parts in what can be a very stressful time.

DLi Mortgages covers the Bournemouth, Christchurch and Poole area, although we are also happy to work with clients further afield. We are familiar with the intricacies of the local area and have a strong network of contacts gained over a decade living and working here. We are based in Poole, but happy to meet remotely or travel to you at a time and place of your choosing.

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

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