Taking out a mortgage is probably the biggest financial commitment you will ever choose to make. The term of the loan will probably last until you are near to retirement age and in many cases the loan amount will become larger as you move up the property ladder.

So, as a mortgage seeker, what is the most important factor to consider when researching all of the different mortgage options?
For most people it is to simply find the best interest rate on the market but if it really was that simple then everyone would always get the best mortgage products available!

Many borrowers unaware of role of mortgage advisers

Many home buyers first stop is their current bank. In some cases they find that their own personal circumstances do not match the lending criteria of their bank and may leave feeling disillusioned with the whole process. They need to hire Mortgage adviser nz for better understanding.

It is also true that many people who do fit their banks criteria accept the first rate the bank offers them, without researching the whole of the mortgage market and never realising that there may be far better products on the market that would suit their own personal needs.

There are often many different obstacles in the way to make it very difficult and confusing for you to choose the correct mortgage option, and this is where a mortgage adviser can come in very handy.

A mortgage adviser is a qualified professional who either offers mortgages from the whole of the market, is tied to one particular lender or offers advice from a panel of lenders.

What are the different types of Mortgage Advisor?

There are mainly three different types of mortgage adviser. These being: –


  • 1. An adviser who has access to the whole of the mortgage market.
  • 2. An adviser who is tied to a panel of lenders.
  • 3. An adviser who is tied to a single lender.


It may be beneficial to use a mortgage adviser who has access to the whole of the mortgage market as they can match your needs to the best mortgage product from the whole mortgage market that fits your own personal circumstances.

Many of the products available to the adviser will not be accessible to the average person on the high street, again allowing them to give you the choice of a better mortgage product. This gives a mortgage adviser offering whole of market advice a distinct advantage over many individual lenders’ as they are not tied to any one product or lender. Always check with your adviser to confirm if they source mortgages from the whole of the market!

Another big advantage of using an adviser is the amount of time they can save you! Firstly they will take your initial details by way of a fact find i.e. salary, credit history, property value, deposits etc.

An adviser will research the products available to find a mortgage, which is suitable for your circumstances. A key part of the adviser’s job is to match your details with the lenders criteria. For example, if you had a poor credit history and were self employed with only two years accounts the adviser would research the products available to them to find you a company that can provide a suitable mortgage based on these circumstances.

By Admin

Leave a Reply

Your email address will not be published.