So where do you start, your local bank who you have been with since you were a kid, wrong. This mortgage refinancing probably the worst place mortgage refinancing start. They may know all your details, which you think would benefit you. But it does not, they will still credit score you anyway.
The main reason not to go to your local branch is that the adviser working there will be restricted on selling you their own products, which may or may not be the right mortgage for you. To help you with mortgage advice contact a local whole of market mortgage brokers, these guys have access to the whole UK mortgage market. Not only will they be able to find you a great deal. But they also provide a number of other useful services.
Firstly brokers will advice you on the difference between a fixed rate and a variable or tracker rate mortgage. They will discuss with you how long you want to take the mortgage term for and how long you want to have your mortgage tied in for. You may think a 2 year fixed rate will benefit you, but an adviser with their knowledge may recommend a longer term tracker rate.
Mortgage adviser do not normally charge for their services upfront but take commission from a lender on completion of the mortgage. Knowing this, you can get as much free mortgage advice as you like. Do not feel rushed into taking the first mortgage offered, but ask your adviser to print off the quotes so you can review them in your own time.
If you find a deal you like, phone them and they will make the application for you on your behalf, so not only did you get free mortgage advice but you have had covered all the lenders and the adviser will do all the paperwork for you. Which is great, any problems let the mortgage broker deal with it as until the mortgage completes they do nott get paid. This is more incentive for them to get the job done quickly.
The adviser will want to give you not only the best mortgage advice that he can for you but so that you recommend him on to your friends an family in the future. So all in all whether you are a first time buyer or property investor getting good mortgage advice will save you time and money.
For all the latest mortgage advice and information, speak to an advisor at J P Financial. The website has information on mortgage finance and much more.
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