There are different kinds of mortgage advisors. There are those who are tied with certain banks or lending firms. They are qualified advisors and they also have the right credentials to give you the best information possible. However, since they are tied with a bank, their goal is to not just give you an advice, but to also convince you to choose the bank in which they are employed with.
Some of them can be subtle, while others will aggressively push you for the said bank. Most of them have a specific amount received from the bank regardless of the deals that they close. Others are also given commission once they have closed the deal. This is the reason why there are times when they become really aggressive in asking you to choose a specific bank.
If you want to make the best possible deal, look for independent mortgage advisors. They are not linked with a specific bank. Perhaps, they are tied with a real estate firm, but they are free to provide advice. They are not aggressively pushing you to stick with one bank or lending firm only.
The main reason why it would be nice to go for these advisors is that they can give you honest advice. Since they are not partnered with any bank or firm, they can give you exactly what you need to know. They can present the pros and cons of each option, without any bias. They will even help you trim the options down until you can find the best partner considering your personal standards.
Another advantage is that you can take your time in choosing the best partner. They won’t rush you up since they are not tied with any bank anyway. Those who are employed with just one bank will most likely be pressured to close a deal as soon as possible. These independent advisors are paid on a commission basis. The amount varies depending on the bank or firm where they have matched their clients with. Their ultimate goal is to find the best deal for you and not make you suffer later because of your wrong decisions.
There are a lot of independent advisors online. Compare and contrast the options available. If possible, have a checklist containing your personal standards. By then, it will be easier for you to trim the options down. There are a lot of great advisors out there. Read independent reviews too. If you have friends or relatives who have tried asking for an advisor’s help before, consult that person.
For the best pool of mortgage advisors who can give the best help possible, check out Flagstone.co.uk.
Image via freedigitalphotos.net (Stuart Miles)