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Knowing who to turn to for advice when the chips are down is almost as
daunting a prospect than choosing the mortgage itself. That is why we
have provided a quick run down list below of who makes up the numbers
in the property market.
Lenders
These people can provide the borrower with vital information regarding
repayment methods, the different interest rates available, the process
concerned with monthly repayments and the consequences of missing repayments
or paying off the mortgage early. They also have the ability to analyse
all the borrowers’ needs and preferences in order to find a product
or products that we serve them well.
Estate agent advisors
They can also offer all the information a prospect borrower could possibly
need to know to send them in the right direction but when it comes to
advice there are limitations. There are three types of advisors, those
that are tied to lending institutions, those that are independent brokers
or those that simply refer business to another party.
Mortgage brokers
They are specialists in the property game and will be able offer all the
information that a lender can. The only difference is that they will be
able to provide a larger choice of mortgage products to choose from as
they would be familiar with a number of services that the vast majority
of lenders offer. They tend to seek a commission fee but it is not always
the case.
Independent financial advisors
Though these advisors would be familiar with mortgage products and their
benefits they are by no means mortgage specialists. They deal with a wide
range of financial matters but can not offer a thorough service that the
aforementioned sources could.
flexible-mortgages:
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