Is it worth getting a mortgage adviser?

Getting a mortgage is one of the biggest decisions you will make in your life, so it is important to get the right one. A mortgage adviser can assist you in finding the right mortgage for you and your circumstances.

Independent mortgage advisers, like ourselves, have a wide knowledge of the mortgages available on the market. They can search on your behalf and then recommend you the best mortgage for you. This saves you time because finding these deals on your own can take a lot of research.

A mortgage adviser can not only find the best deal on the market for you but can also improve your chances of your mortgage being accepted. They know which lenders are best suited to particular circumstances e.g. mortgages for professionals or mortgages for the self-employed.

When to contact a mortgage adviser

The best time to contact a mortgage adviser is at the beginning of your mortgage journey which could be buying your first home or re-mortgaging.

Mortgage advisers can either be connected directly to the lenders and will only recommend mortgages from that lender. Alternatively, they mortgage brokers can be independent financial advisers who look at a range of mortgages from different lenders.

We would always advise to use a mortgage broker that provides a ‘whole of the market’ service. This will result in them looking at all the relevant lenders that fit your circumstances so there will be a wider range of products to choose from and ultimately a better deal for you.

Companies that offer mortgage advice must be regulated and authorised by the Financial Conduct Authority (FCA).

A mortgage adviser will also:

  • Check your finances to make sure you meet the lender’s lending and affordability criteria.
  • Help you complete the paperwork so your application is processed faster.
  • Explain the costs and features of the mortgage beyond just the interest rate.
  • Recommend an appropriate mortgage for you and tell you which one you are likely to get.


A mortgage adviser may charge you for their service depending on the product or the value of the mortgage. This can be a flat rate, hourly rate or a percentage of the amount you borrow. Others will be free to you but receive commission from the lender.

Mortgage illustration

Once a mortgage adviser has recommended a mortgage, they will issue you with a mortgage illustration document. This document helps you understand what you are agreeing to and outlines a lot of details about the mortgage you are being offered including:

  • the frequency and number of your repayments
  • any fees or charges you need to pay upfront
  • the overall cost of the mortgage including interest over the full term
  • the rate of interest and the type of interest (fixed or variable)
  • what happens if the interest rate rises and how this will affect your repayments
  • any special features to the mortgage
  • if you can make overpayments to the mortgage and any penalties for doing so
  • the length of the reflection period (usually seven days)

For more information about how we, as mortgage advisers, can help you find the best mortgage for your circumstances, please get in touch.

*Please note: Your home maybe repossessed if you do not keep up repayments on your mortgage.

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