It is very important to seek independent first time buyer mortgage advice if you want to make the right decision about which loan is right for you. This is the case whatever your mortgage requirements, as the industry is becoming ever more complicated.
Whether you are thinking of remortgaging, taking out a first time buyer mortgage or releasing equity in an existing property the right independent mortgage advice is important and readily available.
Since 2004 the giving of personal financial and UK mortgage advice has been governed by the Financial Services Authority, now the Financial Conduct Authority. Companies or individuals offering advice on mortgage products must comply with the Financial Services Act or they are breaking the law.
Mortgage advice can be sought from a number of sources:
A tied mortgage advisor: These work – and will therefore recommend products – on behalf of just one lender.
A multi-tied mortgage adviser: These will recommend products from a limited range of lenders.
An independent mortgage advisor : These will recommend products from the whole market.
However, if you consult an independent mortgage advisor , they will be independent on mortgages but perhaps not insurance – and nearly all home buyers take insurance alongside their mortgage.
FirstRungNow.com does not offer personal mortgage advice so we work very closely with a reputed mortgage advice network which offers an excellent mortgage advice service. They are trained and qualified to offer some of the best mortgage advice in the UK.
By researching and reading it is relatively easy to glean a certain amount of useful information but we believe seeking personal mortgage advice from a mortgage advisor will secure you the best mortgage advice service.
Mortgage advice can be given over the phone, by email or in person. Different mortgage advisors work in different ways, many now choosing to offer online mortgage advice. These days they are pretty flexible. In order to give you proper financial mortgage advice, mortgage advisors will need to have a great deal of information about your personal finances. The most important aspect is that they will want to determine that you can and will be able to make the mortgage payments. The last thing they want is to repossess your property if you default on payments . They will ask your permission before they give financial or mortgage advice.
The advice and information offered will cover both repayment mortgage advice and interest only mortgage advice.
Some advisors charge for giving mortgage advice and others make their income from commission they earn from selling insurance policies and mortgages. You are quite entitled to ask about what charges will be applicable.
www.cml.org.uk – council of mortgage lenders.
Request no-commitment, independent, first time buyer mortgage advice in UK
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Other mortgage guides, advice and useful pages:
Mortgage Comparison - First Time Buyer Mortgages - First Time Buyer Mortgage Brokers - Buy to Let Mortgages for First Time Buyers - Remortgages for First Time Buyers - Shared Ownership Mortgages - Help with Mortgages for First Time Buyers - Mortgages for Parents of First Time Buyers - Shared Appreciation Mortgages - Shared Equity Mortgages - Joint Mortgages - Financial Advice for First Time Buyers - Overseas Mortgages for First Time Buyers - Request First Time Buyer Mortgage Advice - Find your First Property - New-Build Gifted Deposit Deals - Best First Mortgages Comparison Table - Learn More About the First Time Buyer Mortgage
Features, advantages and disadvantages of specific first time buyer mortgages:
100% Mortgages l Cashback Mortgages l High LTV Mortgages l Graduate Mortgages l Professional Mortgages l Mortgages with Parents l Guarantor Mortgages l Family Offset Mortgages l Mortgages with Friends or Family l Mortgages at University l Rent a Room Mortgages l Affordable Mortgages l Interest only Mortgages l Part Repayment Part Interest Mortgages l Interest-free Start Mortgages l Shared Ownership Mortgages l Poor, Adverse or Poor Credit Mortgages l Key Worker Mortgages l Shared Equity Mortgages