Why should you use a mortgage adviser when buying a home?

Shirley Mushet, an ESPC Mortgages independent mortgage adviser, gives insight into the benefits of using a mortgage adviser on your property search.

In the current climate, we are seeing lenders changing their criteria and products very quickly. Engaging with an ESPC mortgage adviser can help you keep on top of the dynamic world of mortgages and help you get the most competitive product for your circumstances, which can potentially save you thousands of pounds. We have access to exclusive lenders and products, so it’s likely you might get more choice than you would get if you decided to go it alone.  

Engaging with us early, even before you have started your search for a property, means that we can explain what the different mortgage products are and explore if they might be appropriate for you. We are seeing that discounted and tracker rate products are prominent with lenders, but how do these work? What are the risks and are these the right products for you?  

We are seeing cases where one lender’s product might source well initially, but the next day they could drop out from being competitive. ESPC Mortgages can change lender quickly, so you can be assured you are getting the most competitive product available at the time.  

We can work through affordability, especially how lenders view different income types. Following on from this, we can consider what your monthly mortgage payments might look like. This helps you understand the price range of the properties that you want to consider.  

As mortgage lending is secured on the property, the lender wants to be comfortable with the type of property. As such, during your search we can help guide you on how a lender will view your property. For example, a lot of lenders limit the percentage you can borrow on a flat.  

Once you have found your successful property, we apply for the mortgage on your behalf which takes the worry and stress out of this part of the process. ESPC Mortgages are used to dealing with lenders’ underwriter queries and can tackle this for you, making your application process as efficient as possible.  

ESPC Mortgages are here to help  

ESPC Mortgages offer expert independent mortgage advice in Edinburgh. Whether you are looking for first-time buyer mortgage advice, are interested in finding out more about buy-to-let mortgages or would like to re-mortgage, get in touch with the team on 0131 253 2920 or fsenquiries@espc.com  

The initial consultation with an ESPC Mortgages adviser is free and without obligation. Thereafter, ESPC Mortgages charges for mortgage advice are usually £395 (£345 for first-time buyers). YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED AGAINST IT.

The information contained within this website is subject to the UK regulatory regime and therefore restricted to consumers based in the UK.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren’t able to resolve themselves. To contact the Financial Ombudsman Service, please visit www.financial-ombudsman.org.uk.

ESPC (UK) Ltd is an Appointed Representative of Lyncombe Consultants Ltd which is authorised and regulated by the Financial Conduct Authority.