Circumstances That Call for an Engagement with a Mortgage Adviser

October 14, 2021

Securing a mortgage is undoubtedly one of the biggest financial commitments that you'll ever make, therefore it's necessary to get it right from the outset. When about to commit to such a far-reaching financial decision, it's not unusual to ask yourself whether you should engage a mortgage advisor. Mortgage seekers are often faced with dilemmas on whether to troop to a high street bank and seek advice from one of the bank advisers or incur an out-of-pocket fee to get advice from a private mortgage advisor. Sometimes, you may even wonder whether the advice is necessary in the first place, considering that you can walk into the bank and secure the mortgage on your own.

If you're seeking to find out when it's the most appropriate to talk to a mortgage broker, then you're in the right place as this article aims to discuss the circumstances that call for an engagement with a mortgage adviser.

  • Need for Professional Advice

A mortgage broker is a highly skilled professional. Although you can choose a mortgage without necessarily seeking advice from a mortgage adviser, it can turn out to be a risky financial undertaking. If not careful, you can find yourself settling for the wrong mortgage for your needs, which can be incredibly costly in the long run. Failure to consult a mortgage adviser may see your application rejected by the selected lender because you didn't grasp the mortgage product and qualification requirements. Seeking mortgage advice Essex means that you'll be better placed to find a mortgage that conforms to your circumstances and has better repayment terms.

  • Access to Multiple Lenders

Not all mortgage brokers have access to multiple lenders as some are restricted to one specific lender. Such advisers usually work for high street banks and can only cut mortgage deals from that one specific bank. A mortgage broker with an extensive network can offer deals from a variety of mortgage products.

Working with a broker relieves you of the workload of finding a mortgage as they find and contrast suitable mortgage deals from a wide range of lenders before issuing a recommendation to you.

  • Need to Understand Credit Policies

Every bank has its lending terms, and in that case, it can be a hassle to find a bank whose lending policies suit your individual needs. Based on their knowledge and vast experience in the mortgage industry, mortgage advisers can advise you accordingly on which banks offer mortgages at the most affordable rates. On top of that, mortgage brokers can quickly interpret the jargon to help you learn of your options. For instance, if you are looking at the prospects of making timely payments, a great mortgage adviser can help you find the policies that facilitate you to do that.

  • Need to Know How Much You Can Borrow

Knowing how much you can borrow in advance can help you to set up realistic goals. Whether you can qualify for more than you thought or little than you envisioned, it's of the essence to have this information before making any financial plans.

With a mortgage adviser, you can get to find the amount you can borrow from different lenders. The broker can even help you to secure mortgages at convenient rates even if you have an existing mortgage from a different lender. Therefore, it is necessary to engage a broker to get to understand the amount you can qualify for from various lenders.

  • Access to exclusive products

Sometimes, mortgage advisers can have access to mortgages that may be out of reach for individual seekers. Some lenders have strict policies that allow them to offer their products only through intermediaries. No matter how good these products are, you cannot access them on your own, unless you go through a broker.


As you can see, there are several convincing reasons to engage a mortgage adviser when looking for a mortgage to finance your project. Although mortgage brokers charge a small fee for their services, it's worth considering the decision you are about to make has drastic implications.

Carlos Diaz
I believe in making the impossible possible because there’s no fun in giving up. Travel, design, fashion and current trends in the field of industrial construction are topics that I enjoy writing about.

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