- 05
- Aug
With the current economic climate where lenders are withdrawing loan and mortgage products from the market daily, you would think there couldn’t be a better time for choosing an independent financial advisor over a more direct approach.
However, many would-be loan clients are reporting a lack of trust in brokers and other loan agents, as stories emerge of American mis-handling of mortgage affairs.
Whilst the American story has rocked the world’s financial markets, the case for using an IFA is stronger than ever. Simply approaching your bank or usual lender is unlikely to net you the best deal.
“Since the credit crunch took hold the major lenders have made endless tweaks to their range of mortgage products,” says My Mortgage Direct director Cath Hearnden. “Rates have gone up and down, whole ranges have been withdrawn and new ones launched.
“It’s not surprising that borrowers are bewildered by this barrage of information and are worried that they might go for the wrong deal.”
By approaching a loan broker, a client can have the entire loans market searched on their behalf to find the loan tailored to their needs. This can save hours of searching the net for deals which often involve small print which affect the deal.
Whether you are seeking a home loan on a new purchase or looking to refinance your currently unmanageable credit situation, asking for professional advice is always a better answer than striking out alone.
