Getting a mortgage is one of the biggest financial commitments you’ll make. Getting advice from a qualified professional could save you thousands of pounds in the long term. The best advice can also help you find deals you might not have access to and make it easier to navigate the mortgage application process.
How do mortgage advisors get paid UK?
When searching for Mortgage Advisors in Belfast, choose an independent adviser who’s regulated by the Financial Conduct Authority. They will be able to offer you a personalised recommendation and will help you complete your mortgage application. They’ll consider your finances and check you’re likely to meet the lender’s affordability and lending criteria. They’ll also research the market and offer exclusive deals on a range of mortgages to suit your circumstances.
You can ask friends, family and business contacts for recommendations or look on search engines. However, remember some advisers will charge you for their services and others will receive commission from lenders. If they charge, you should be told at the outset how much it will cost.
Mortgage advisers will usually ask about your income, debts and expenses to provide a personalised recommendation. They’ll also check your credit report and help you improve your financial situation, if necessary, to ensure you qualify for a mortgage. They’ll then guide you through the mortgage application process and help with paperwork. Independent advisers may charge a fee from PS395 to 1% of the loan amount, while restricted advisers and bank advisers typically don’t charge a fee.