Can A Mortgage Adviser Get You A Better Deal?

The hidden benefits of using a mortgage adviser if you are a first-time buyer or home mover.

Entering the property market as a first-time buyer or transitioning to a new home as a home mover can be a very exciting time but can often be overwhelming regarding the financials. Securing a mortgage is a crucial step in the process, and it is only natural to wonder whether you can get a better deal by going directly to a lender or seeking advice from an independent mortgage adviser.

In this article, we explore the benefits of using a mortgage adviser’s services and how they can help you find the most suitable mortgage deal tailored to your needs and requirements.

  1. Expertise and market knowledge

    Mortgage advisers are qualified professionals who specialise in understanding the intricacies of the lending market and the product available. They keep themselves up to date with the latest trends, interest rates and lending criteria from various lenders. By leveraging their expertise, you gain a wealth of knowledge that can help you make informed decisions.
  2. Personal & professional advice

    A significant advantage of working with a mortgage adviser is the offered personal advice. Instead of a one size fits all approach, they take the time to understand your unique financial situation, future plans, and aspirations. This allows them to recommend mortgage options that align with your needs and requirements, ensuring you don’t end up with a deal that is ill-suited or does not match your requirements.
  3. Access to the whole of market i.e. many lenders

    When you approach a lender directly, you’re limited to their products. Whereas by approaching a mortgage adviser, you have access to a wide range of lenders, including those with exclusive deals not available to the general public. This extensive network allows the adviser to compare multiple offers and find the most competitive rates and terms on your behalf.
  4. Simplified application process

    It can be complex and time-consuming if you are trying to navigate through the mortgage application process on your own or directly with a lender. Mortgage advisers are well-versed in this process and can guide you through step-by-step, ensuring that all necessary paperwork is completed accurately and promptly. The adviser firm will generally complete the applications on your behalf and manage the process with the relevant lender. This streamlines the application process, saving you time, reducing the chances of errors, and making the process more efficient. This generally will mean fewer delays and less jeopardy in the approval of your loan.
  5. Relationship with lenders / ability to negotiate.

    Mortgage advisers will have built up extensive relationships with lenders, which can assist in the event of any complications with an application. They can work on your behalf to build a case and give your application support to gain a better outcome than could be achieved on your own.
  6. Cost-effective

    Contrary to popular belief, seeking the services of a mortgage adviser doesn’t necessarily mean additional expense. Mortgage brokers will generally charge a mortgage broker fee for their services and experience, however with access to a range of lenders, rates and criteria, the potential savings that can be achieved in finding a better mortgage deal may far outweigh any broker fee.
  7. Conclusion

    Choosing between going directly to a lender and using the services of a mortgage adviser is an important decision. Direct approaches seem more straightforward, but the positive benefits of using a mortgage adviser are significant. An adviser’s expertise, personalised advice, extensive lender network, and streamlined application process, combined with the potential cost savings they can achieve in finding a better deal. All work together to ensure that you achieve the most suitable mortgage deal tailored to your circumstances.

    At MMPE, our friendly, professional mortgage advice team are committed to helping you navigate the intricacies of your mortgage search. Let us be your trusted partners on the journey to homeownership or your new dream home.

    Get in touch with us today and let’s find the perfect mortgage deal for you.

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My Mortgage Experts & Protection Experts Ltd (FCA 937076), is an Appointed Representative of King Mortgages Ltd.

King Mortgages is authorised & regulated by the Financial Conduct Authority (FCA). King Mortgages Ltd is entered on the financial services register under reference number 803561.

The information contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.


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      Automatic Property Value Updates

      Changes in property value, coupled with a potential reduction in your loan amount (with a repayment mortgage), mean a change in the equity available in your property (Loan to Value); hence there could be improved opportunities for a better mortgage for you.

      Product Expiry Date

      Sussed will track when your mortgage is due to expire (usually when your mortgage payments rise substantially as you will automatically transfer to your lender’s standard rate).

      The app will alert you when it’s the right time to discuss your options with your mortgage broker.

      Sussed can help you plan.

      Rate Riser

      This feature is ideal for today’s economy and increasing prices. Sussed will continually scan the market, looking for the best-fixed rates available, especially when interest rates are rising.

      Using a series of algorithms, our clever technology can identify longer-term fixed rates available today that could save money against predicted rates at the end of your current product term (including the cost of transfer) – sussed is doing all the hard work.

      Equity Available

      With automatic property value updates and your Mortgage information loaded, this feature calculates the amount of equity and the maximum potential loan that may be available within a landlord’s portfolio. This will assist with seeing if there is the opportunity for to perhaps buy another property from leveraging your portfolio.

      Within sussed, you will also be able to see each of your properties with a roadside picture, a confirmed property value, monthly rental, current mortgage balance, payments, interest rate and the Loan to value/Gross rental yield.

      Sussed can help you manage your portfolio.

      Early Review

      This feature is there waiting for interest rates when they reduce. Using the same technology as Rate Riser, sussed will identify if your current deal is now able to be improved.

      Should the interest rates decrease, sussed will compare deals available on the day with your existing deal and flag if there is an opportunity for you to save money by switching.

      Regional Price Limits

      There are price limits on homes you can buy with an equity loan. The limit is different for each region in England.

      • East - £407,400
      • East Midlands - £261,900
      • London - £600,000
      • North East - £186,100
      • North West - £224,400
      • South East - £437,000
      • South West - £349,000
      • West Midlands - £255,600
      • Yorkshire and the Humber - £228,100

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