Negotiating the Mortgage Maze

Following the worldwide recession at the end of the last decade, banks around the world slashed interest rates in an attempt to stimulate growth. Other methods followed, such as financial stimuli – effectively printing money –  and the commissioning of large infrastructure projects, but still, the problems persist.

However,  one legacy of these attempts to stimulate the economy into recovery is that interest rates remain at an all-time low, which is fantastic news for borrowers who find themselves being able to access mortgage funding at the most competitive rates. As a result, many people are choosing to lock into these low rates by agreeing to fix their mortgage for two, three or even five years.

When it comes to picking the best mortgage out there, the choice of deals on offer has never been greater and to make sure you are getting the best possible deal it really does pay to seek out the advice of a specialist financial adviser. That is part of their business after all – to keep up to date with what’s happening in the mortgage market, so that they can steer their clients in the right direction. By all means you could contact a bank or building society direct, but bear in mind they will only recommend their own products. Using an intermediary allows you to pick and choose from the whole mortgage market.

One other  advantage of using an experienced financial adviser to source your mortgage is that they are likely to have developed good working relationships with a number of lenders locally, which may mean that they are able to secure funds for you even if you fall short of some of the lenders strict criteria. Given that high street lenders have been imposing ever more strict conditions on the grant of mortgages, this may often be reason enough to use a financial adviser’s service, rather than trying to go it alone.