What is a mortgage advisor and how can they help you?

While the modern day mortgage has only been around since the 1930s, the concept of a mortgage goes back much, much further. In fact, its origins can be traced back thousands of years! Here The Conversation reveals more about the very earliest mortgages:

“Historians trace the origins of mortgage contracts to the reign of King Artaxerxes of Persia, who ruled modern-day Iran in the fifth century B.C. The Roman Empire formalized and documented the legal process of pledging collateral for a loan. Often using the forum and temples as their base of operations, mensarii, which is derived from the word mensa or ‘bank’ in Latin, would set up loans and charge borrowers interest.”

While things have moved on since these ancient times, mortgages remain a vital part of many homeowners’ stories. Recent figures confirm that 48% of homeowners in the UK have a mortgage, loan, or own their property through schemes like shared ownership.

If you’re in the market for a mortgage, seeking mortgage advice is something many (including us) recommend. But, what is a mortgage advisor and how can they help?

So, what exactly is a mortgage advisor?

A mortgage advisor is just that – it’s a professional who provides the mortgage advice you need to not only find the right mortgage deal for you and your circumstances, but help you navigate the often complex home financing process. The mortgage application, and associated affordability checks, can after all be daunting for anyone, including first time buyers and repeat purchasers.

An independent mortgage advisor will effectively act as an intermediary between you (the borrower) and the bank to secure a mortgage loan and hopefully a property you love!

What services do mortgage advisors provide?

A mortgage advisor offers essential support and guidance for those at various stages of their property journey. This includes buyers looking to purchase their very first home, individuals moving home or purchasing second properties, landlords starting or expanding their buy-to-let portfolios, and current homeowners remortgaging.

Mortgage advisors provide vital insights into the mortgage market so you can find the most suitable mortgage product for your finances and current circumstances.

Why is it beneficial to get mortgage advice?

There are many reasons why it pays to get mortgage advice. With a little help from a mortgage advisor, you can get access to a wider range of lenders and mortgage deals, some of which may not be directly available to the public.

Tailored recommendations are also a part of the service, with products matched to your financial situation, long term goals and credit profile. This means that you can increase your chances of approval and avoid any potentially costly mistakes! A mortgage advisor’s expertise really could save you time and money. You’ll also gain valuable support throughout the process to avoid any further pitfalls and make your journey from search to purchase even smoother.

Looking for a mortgage advisor who can help?

Then look no further than The Mortgage Bureau! As independent mortgage advisors, we can assist you with your property purchase or remortgage. Simply, click here to find your local advisor today.