Mortgages are the biggest financial commitment most people will ever make, so it’s vital to get the right product for your needs. That’s why it makes sense to work with an independent mortgage adviser to use their experience and knowledge of the mortgage market.

An independent mortgage adviser will help property buyers get the most suitable and competitive mortgage for their circumstances and smooth the path to an offer, making the process hassle-free.

Some buyers may choose to go directly to a lender to arrange their mortgage. However, by doing so, they could be missing out on many benefits and end up paying more for their mortgage.

Here are ten reasons to use an independent mortgage adviser:

1. Whole of market advice

Independent mortgage advisers can search for the right mortgage for your circumstances from across the whole market. Whole of market advisers work with every single lender on the market, which enables them to analyse every option to find the deal that is best for your situation. You’ll be offered personal advice tailored to your individual needs.

2. Money saving in the long run

Independent mortgage advisers are impartial and are not tied to a particular provider. This means they have no incentive to recommend one lender or another, which helps ensure that your mortgage is not costing you excessive interest charges that could be avoided. Going directly to lenders for a mortgage will mean that you’ll be limited to their deals. Independent mortgage advisers can find the most cost-effective mortgage deals that will save you money over the long term, which could be up to 30 years. Also, they usually have access to exclusive products that are not available from mainstream lenders.

3. Advice on every aspect of the mortgage process

The details and terms of mortgage deals can get complicated. Independent mortgage advisers can make the process much smoother and explain what everything means, breaking down the jargon for you. They can also offer reassurance throughout the property purchasing process.

4. Saving you time with a hassle-free process

Securing a mortgage and buying a home can be a complicated process with many forms to fill out and different parties to chase. There’s no need to spend time understanding how to complete forms as an independent mortgage adviser will do this on your behalf, so it’s just a question of reading the completed documentation and adding your signature to it. The adviser does the legwork for you and prepares your case as well as liaising between you and the lender, the lender and the estate agent and the solicitor and the estate agent. Mortgage advisers can help push the process along and make everything much smoother.

5. An independent mortgage adviser understands lender criteria

Good mortgage advisers deal with different lenders on a day-to-day basis. They understand which lenders are more likely to accept applicants and what information they need to see to improve the chances of your application being accepted.

6. Fully qualified and regulated

Independent mortgage advisers must have professional qualifications and they are regulated by the Financial Conduct Authority – either directly or as an appointed representative of a network. This means that the adviser has a regulatory responsibility to search for the most suitable product for you. If there is an element of your adviser’s service that you are not happy with, you have the option of complaining to the Financial Ombudsman Service.

7. Specialist needs

If you’re self-employed, have seasonal income or a history of bad credit, you may find it difficult to get a mortgage on the high street. Independent mortgage advisers have access to a wider range of specialist lenders and experience in helping those excluded from the mainstream market. They can find specialist lenders who provide mortgages to people with adverse credit history at the best interest rates available.

8. Wider Financial Advice

Independent mortgage advisers can help you arrange buildings insurance cover, which will be required by your mortgage lender. They can also talk about life insurance, mortgage payment protection insurance and other types of cover that might be suitable for you.

9. Loyalty

Independent mortgage advisers are there to help you review your options if your circumstances change. They normally contact you well in advance of your current mortgage deal ending, to see if they can find you a better one. They are interested in referrals and want you to recommend them to friends and family, so they’ll always act in your best interests.

10. Value for money

Independent mortgage advisers earn money on the commission paid by all lenders. This means that even ‘free mortgage advice’ is still paid for in one form or another, but not necessarily from you. Many mortgage advisers may also charge a fee, but this allows them to spend more time advising and supporting you throughout your application and be wholly focused on your needs.

At Beaufort Mortgages, we find the best mortgage rates for First Time Buyers, Home Movers, those looking to Remortgage and landlords requiring Buy To Let mortgages. Get in touch with Dan Godfrey, our independent mortgage adviser.