“Estate Agent’s mortgage adviser or Mortgage Broker?”
Well of course I am going to be slightly biased on this article and it has to be the services of a Mortgage Broker all the time over the services of an estate agent’s mortgage adviser.
My reasons for this decision are easy:
- There is no conflict of interest when dealing with an independent mortgage adviser compared to an in house estate agent mortgage adviser. As a mortgage broker we have your interest at heart 100% and we don’t care if you buy property A or property B from another estate agent – All we want is to secure the right mortgage for you regardless of the property. An ‘in house’ mortgage broker might try a little too hard to look after you and the estate agent at the same time as their interests are more aligned with the estate agent as it is their main source of income and leads. If I were a client all I would want is someone working for me at all times with my, and only my, interests at heart
- With an independent mortgage broker there is a strong possibility that they will have a larger panel of mortgage lenders to access which will give you a greater choice of mortgage deals.
Using the services of a Mortgage Broker in advance of searching for a property would be something that I strongly recommend. Doing this and by obtaining a ‘decision in principle’ will allow you to avoid the grasp of an in house mortgage adviser and more importantly will put you in a favourable negotiating position when putting an offer in on a new property.