Mortgage advice services have become increasingly popular over the last few years, with many lenders and brokers offering them as an additional service to their existing customers.
One of the main benefits of using mortgage advice services is that they can help you avoid making mistakes when buying a home and making the wrong decision. However, there are also some things you should be aware of before signing up for this service.
If you’re considering using mortgage advice services, or if you’re already using them, here are some things you should know about how they work and how they can help your finances:
Mortgage advice services are provided by independent third parties who aren’t directly connected with your lender or broker. They provide unbiased information on mortgages, loans and investments so that you can make an informed decision about what product is right for your needs.
Third party providers must be regulated by either Ofgem or FCA and provide client money protection insurance of at least £50,000 per client per firm – this means if one company goes bust then clients will get their money back from another provider in full.
Mortgage advice services are available to help you understand the mortgage market and make informed decisions about your mortgage. They can also give you tips on how to save money when buying or remortgaging your home, or help you if you’re struggling with a mortgage.
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But before we get into the details of what they offer and how they can help, here are some things to know:
They’ll only help if you’ve already decided which product suits your needs best. The advice service won’t be able to tell you what to choose – it’s up to you to decide what type of mortgage best suits your individual circumstances and goals.
These services aren’t regulated by Ofgem so there’s no guarantee that they’ll provide the same level of service as a regulated adviser would. But they do have their own standards which should be met by all advisers working with them. You can find out more about those here .
Mortgage advice is a service offered by lenders and brokers to help customers with their home finance needs. It’s commonly offered as an add-on to other services such as mortgages, but it can also be provided independently by firms such as Money Advice Service or National Debtline.
You can request mortgage advice online, over the phone or in person at a branch of your chosen lender or broker. If you want to speak directly to an advisor, they’ll probably set up an appointment with you over the phone or ask you to make an appointment at their office. You can contact https://www.themortgagehive.co.uk/ for more information.
