This week we decided to answer some of the questions you’ve undoubtedly thought of asking your mortgage adviser.

Should you get a mortgage adviser?

If you want to buy a house and you need a mortgage to fund the purchase the answer to this question is YES! 

Our mortgage advisers can offer you impartial advice on the products and services available to you from a range of lenders (unlike an adviser in a bank or building society who can only give advice about the products and services that they offer).

Not only that, making a decision on your own about your mortgage without taking any advice could prove to be very costly. You may not know where to turn if you are refused by a lender, or in a worst-case scenario you would be fully responsible for your mortgage decision if you chose an inappropriate product.

What should you ask your mortgage adviser?

Applying for a mortgage isn’t just a one-way conversation. You need to have a connection with the person that you’re engaging as your adviser, and you need to understand how they do business and what they’re going to do for you.

Here are our top question suggestions for you to put to your adviser:

  • How much can I borrow?
  • How much deposit will I need?
  • What type of mortgage would be best for me?
  • What fees do you charge?
  • What documents do I need to provide?
  • How many lenders can you approach?
  • What’s included in the service you offer?

We are open and transparent in every way we do business – we’ll answer as many of these questions as we can here but feel free to ask anything which helps with your understanding.

What can a mortgage adviser do for you?

Our mortgage advisers will:

  • Explain the process of buying or remortgaging a home so you fully understand each step.
  • Translate the different types of deals that are available
  • Advise you on how much you can afford to borrow
  • Have access to thousands of different products from over 90 UK lenders
  • Recommend and source the most cost-effective mortgage for you based on your individual circumstances and needs 

We always give our clients a gold standard service, going the extra mile, which means we also:

  • Deal with all the mortgage paperwork for you
  • Provide a full range of lifestyle and income protection cover to protect you from the unexpected
  • Liaise with all the stakeholders (lenders, conveyancing solicitors, protection providers) for you
  • Assign a dedicated and proactive case manager to your case from day one
  • Keep you updated throughout the whole process
  • Provide ongoing support and advice, not only until you are in your new home, but as long as you need us – we’re only ever a phone call away

What do mortgage advisers need to know?

One of the prime responsibilities of a mortgage adviser is to make sure that the mortgage we recommend is both affordable and appropriate – ensuring you’ll be able to repay the amount of money that you want to borrow.

To do this they will need to talk with you about your income, your outgoings, your credit commitments, any savings you have, the work that you do and anything else that is pertinent to your individual circumstances.

Basic information that you will be asked to provide and why 

To gain a thorough understanding of your position your mortgage adviser will ask for copies of certain documents to help them form a complete picture of your finances and to obtain proof of your identity:

Because everyone needs to be sure that you are who you say you are…
A Passport and/or Driving Licence – if you don’t have either don’t worry, there are some alternatives.

To confirm what regular income you have coming in…
If you are employed, your latest 3 months wage slips showing details of any overtime, bonuses, commission or deductions.
If you are self-employed, your last 2 years SA302s & Tax Year Overviews.
If you don’t work or are retired, evidence of the benefits or pension income you receive.

To confirm any regular expenditure…
Your last 3 months bank statements and details of any other financial commitments, loans, HP, credit cards etc.

To confirm your credit status…
If you have any history of poor credit, we may need a copy of an up-to-date credit report (preferably CheckMyFile) to understand what happened and when. If you’ve had issues in the past, we work with a number of lenders who understand that life events can sometimes cause us to have financial difficulties.

Everyone’s personal circumstances are unique to them and your mortgage adviser will only ever ask for information that is relevant to their understanding of yours. The holistic advice we offer is tailored specifically to your situation and we’ll do all we can to find the most cost-effective deals available.

NOTE: Our mortgage advisers take GDPR seriously and any information that you share is dealt with in accordance with our privacy policy.

What will you be asked by a mortgage adviser?

Our mortgage advisers are a friendly bunch who are easy to talk to. During your initial conversation you’ll usually be asked some basic questions to confirm your name, contact information and a broad overview of your current circumstances with a view to setting up a face-to-face meeting with you online.

Face-to-Face meetings online

Zoom meetings are our preferred way of conducting face-to-face meetings. Happily, we’re now a well-oiled Zoom machine and every client meeting is conducted in a relaxed and professional manner. During this meeting we’ll discuss your goals, explain our terms of business (including fees), go through the house buying/remortgage process and discuss your mortgage affordability with the products/interest rates available.

You do not need to have Zoom already, or an account, as you can sign in as a guest via a web browser (Chrome, Firefox or Chromium Edge).

Zoom etiquette

If you’re new to Zoom, here are some pointers to help make your meeting with your mortgage adviser seamless and stress free.

  • Turn on the camera and test the microphone on your device before you join the Zoom meeting
  • Make sure there’s enough light in the room you’re in so that you can be seen
  • If you can, make sure your camera is level with your eyes. This makes it feel just like you were sitting opposite your adviser in a room in real life
  • Please be on time – if you know you’re going to be late, let the adviser know so that you can reschedule
  • Don’t walk about with your device during the meeting – it can make your adviser seasick!
  • If you have to leave the meeting, to go to the loo for example, please tell the adviser before you leave. Just walking out of the room with no explanation is very confusing for them!
  • As much as is possible, close the door and try to avoid pets and children taking your attention.
  • Relax! By the time the meeting is over you’ll be wondering what all the fuss was about.

How do you contact our mortgage advisers?

For first contact we’d recommend picking up the telephone to speak to our friendly team and book your free, no obligation mortgage consultation with one of our mortgage advisers. Alternatively, you complete our contact form and we’ll give you a call. You can rely on our expert support every step of the way to make the whole process as simple, hassle-free, and straightforward as possible.