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Choosing Your Mortgage in Uncertain Times

In an article published this month, the Telegraph reports that 1 in 5 Brits regret their house buying or feel that there was a crucial element of the sale that they overlooked.

Whilst of course to err is human, when there are potentially hundreds of thousands of pounds at stake, mistakes can prove exceptionally costly when they are tied into the housing market. The things that people regretted ranged from overlooking local planning permission for things like a football ground or airfield to not getting a proper structural survey completed. Endowment mortgages are no longer particularly popular and it’s no wonder as many buyers regretting their interest-only endowment mortgages when they discovered that they would often be left with a surplus to pay if their endowment plans did not pay out as much as the mortgage required.

This shows just how important it is to receive independent mortgage advice. Buying a house is one of the most stressful decisions that a person can make and the difficulty lies not just in finding the dream home, but in navigating the complexities of the financial market and all the inherent specialist terms. If you are looking to buy a new home, your bank or building society will offer you a mortgage advisor, however it is worth noting that as well as helping you, their job is to sell mortgages for their specific company. An independent mortgage advisor, like Nicky Reynolds, can do a lot to help you:

compare all the features of different mortgages, not just interest rates
complete some of the paperwork and speed up the process
give you guidance about the mortgages you’re likely to be accepted for
may have access to exclusive deals
compare how different mortgages will work for you depending on your lifestyle
liaise with lenders and estate agents on your behalf.

With such benefits to enlisting the help of a mortgage advisor, it is wise to choose someone who is easy to talk to and who is committed to using their expertise to your benefit. At Reynolds Property Services, the team are committed to offering an honest and reliable service, based on their decades of experience of lending.

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