Mortgage Brokers Gateshead

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Unbiased Independent Mortgage Advice

Whether you're a first time buyer, or looking for a better deal for your existing Mortgage, contact us for No obligation Professional advice.

We have access to the whole of the Market, with some exclusive deals not available on the High Street.

Paul Barron is our senior mortgage adviser who covers the Gateshead area. His qualifications include FPC 1,2,3 and CF6 along with over 10 years experience in the Financial Services industry. The following article was written by Paul to answer some of the many questions you may have about mortgages. We hope you enjoy the read along with the rest of our website and please don't hesitate to contact us for a free consultation.

Good Mortgage Advice - by Paul Barron

Mortgages are a complicated financial product and for most people choosing a mortgage is probably one of the biggest financial decisions that they will make within their life time. It is important that all the various product options available are explored in depth and that the associated advantages / disadvantages of each are understood. All good decisions are based on research, information & understanding set against the amount of time that you have available.

Professional Advice Could Save Time
Professional mortgage advisers are required to sit exams and prove their competency to the Financial Services Authority (FSA), so they have already spent many hundreds of hours studying and understanding the different mortgage types. The majority of advisers have been qualified and providing advice for many years, so although you still need to do your homework a mortgage adviser will definitely help speed up your learning time.

Making The Right Choice
The right choice can mean any number of things and is highly individual to each person, for example: the choice made by someone who expects to repay their mortgage early will probably be different to someone who does need a 25 year term. The cost can also vary considerably depending on your choice of mortgage lender and product. For example if you could reduce your mortgage repayments by just £10 per month spread over 25 years, this would hypothetically save a total of £3000.

A Helping Hand
There is much more to buying a property than simply finding the right mortgage. The process can be stressful at times to say the least, but the help and guidance of a professional adviser will soften the whole process and should make things run a lot more smoothly. Even if you are not a first time buyer and have already gone through the process many times, it still helps to have friendly council from someone that works within the industry.

Not All Mortgage Advisers Are Equal
The type of mortgage advisor you speak to can make a BIG difference with the options that are presented to you. Some mortgage advisers can only place mortgage applications with a limited number of lenders, whilst your bank can only offer there own products. The best advice is impartial, independent & 'whole of market'. Meaning that the options explored include the 'whole market' and that the advice is independent, impartial and given with your best interests.

Everyone Is A Winner
By finding a good whole of market, independent mortgage advisor you will increase your chances of saving money, finding the best mortgage that suits you and also soften the whole property buying process. But your mortgage broker will also stand to gain from taking good care of you, because the majority of their business is word of mouth. The chances are you will recommend them to friends & family if you are happy and re-mortgage with them in a couple of years.

Good Advice Does Not Cost The Earth
The majority of independent, whole of market mortgage advisers will provide two options for their remuneration, which are to be paid by the lender for placing the application or as a fixed fee with any money paid by the lender returned to you. Some mortgage brokers are very happy to provide advice on a 'fee free' basis and get paid by the lender, so you don't actually pay them directly for their service.

Is 'Fixed Fee' Advice better?
Truly independent advice requires a broker to offer a 'fixed fee' payment option. Meaning that any fee the broker receives from the lender for placing the mortgage is then passed straight on to you, which in most cases is very similar to the fee you paid them from the outset. The pros and cons of a 'fixed fee' or 'fee free' do vary slightly with each broker and it is best to discuss the choice with your adviser.

This article is not intended and does not in any way provide advice. If you require professional Independent, whole of market mortgage advice you must speak to a qualified mortgage broker.