Why should I use an Independent Mortgage Advisor?
Businesses who offer mortgage advice must be regulated and authorised by the Financial Conduct Authority (FCA).
What will the mortgage advisor do?
A Mortgage Advisor utilises their expertise and finds the most suitable mortgage for you based on your circumstances. They can:
Proof of identify - This could be a current UK/EU passport or current driving licence
Proof of residency - This could be a utility bill/credit card or bank statement which is less than 3 months old
Bank statements/credit card statements from the past 3 months
Payslips/P60 from the past 3 months, if you are employed
Audited accounts/SA302 form from the last 3 years if you are self-employed
Current mortgage statement if applicable
Existing mortgage details - Amount, rate, lender, early repayment charges etc.
Proof of deposit
It depends on the firm, but most Mortgage Advisors will charge you for their service. They might charge a flat rate, an hourly rate or a percentage of the amount you borrow. Some Mortgage Advisors will charge a ‘lifetime rate’, meaning that if you were to sell your property in the future and need to seek their advice again, you would not need to pay another rate.
Other firms may offer you a free service but they would receive commission from the lender for suggesting their mortgage.