The true value of independence
A recent report from consumer champion Which? warns that bank and building society mortgage advisers are often placing the interests of their employers ahead of the long-term benefits of clients; while research by GE Money suggests that over three million people have been turned down for a mortgage or other loan at least once in the last 18 months.
Around half million of these were turned down up to four times before being accepted, while 400,000 have still failed to find a mortgage. In the current economic climate, it is difficult to predict when this situation may change.
Both sets of research emphasise the importance of gaining independent advice from a professional who places your long-term financial wellbeing first and who understands which lenders are most likely to respond positively.
Without this approach, you could suffer the consequences of being saddled with the wrong mortgage for years after the initial purchase, while multiple failed applications could damage your credit record.
Fortunately, finding the right independent adviser for your needs can be straightforward. Often professional firms you already use, such as your solicitor or accountant, will already work with one. If you are planning to buy a house or to change an existing mortgage, an initial meeting would be a sound first step towards finding the best mortgage deal for your needs and circumstances.
Call Julia Smart on 0117 9290451 or email jsmart@metcalfes.co.uk for further information.
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