A new study has revealed that nearly a third of borrowers that go direct to a lender didn’t know a mortgage adviser could help with their mortgage search and many thought they just existed to help the lender.
The Legal & General Mortgage Club has discovered that 74% of people don’t seek independent advice, and just stick with their current lender.
These people could be missing out as there are many deals that are not available to the general public and can only be sourced through a mortgage adviser. In addition, mortgage advisers can help with specialist requirements such as later life lending solutions and mortgages for the self-employed.
‘… the value that mortgage advisers can bring to borrowers can make a huge difference when it comes to moving onto and up the property ladder,’ said Kevin Roberts, director of the Legal & General Mortgage Club. He added ‘… borrowers can have access to nearly six times the number of products available than if they went direct.’
Borrowers who used a mortgage adviser were overwhelmingly in favour of doing so again. Nearly all of them said the support was ‘valuable’ while 95% said they would recommend using a mortgage adviser to family or friends.
To help our customers secure the best deal, our in-house mortgage advisor – Louise Lewis – is always on hand to advise those buying, selling or re-financing property. Louise works closely with our local partner company - Premier Independent Investments - to offer exclusive mortgage solutions to all of our smarthomes customers.
Find out how smarthomes can help you with mortgage advice and solutions: