News
May 21
Mortgages: Independent Advice is Crucial
With the catastrophic events of the past two years in the banking industry, mortgage borrowers unsurprisingly lack confidence in finding the best mortgage option to best suit their needs. A recent survey has concluded that seeking advice from an independent financial adviser is the best policy to follow before choosing a mortgage.
Banking crisis causing confusion
Research carried out by YouGov revealed that 44% of the 2000 people questioned had less confidence in their ability to get the right mortgage product, compared to just 2% who felt they had more confidence as a result of the banking crisis. This suggests that changing regulations and interest rates have left many confused and uncertain as to how to get the best deal.
Financial Advisers: Most Trusted
Unsurprisingly, consumers are finding comfort in independent mortgage advisers. Of those questioned, 45% said they felt an independent adviser was best placed to find them the best mortgage option, which dwarfed the 25% that believed advice from a building society was the best course of action.
The Changing Landscape
With so much turmoil in the financial world, it seems that only independent financial advisers are in a position to advise the public in achieving their financial goals. Geoff Charles, Managing Director of Bower Mortgage Company, had this to say:
“Only whole of market independent mortgage advisers have the ability to search the entire market and source the deals that will offer the best savings. Some of these deals don’t forget are exclusively offered to brokers which means the public will never see them otherwise. Borrowers must seriously consider taking professional advice in order to enjoy the cheapest deals and get the most out of their financial futures.”
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.
Bower Mortgage Company: FSA regulated UK-wide mortgage advice from friendly, qualified, experienced mortgage planning specialists. Quality, face to face advice and a strong focus on building long term customer relationships. For money saving mortgage and mortgage protection advice, contact Bower on 0800 411 8668 or e-mail info@bowermortgagecompany.co.uk.
