Buying a house is possibly one of the most stressful things you’ll ever do. And somewhere in the middle of all that chaos, you’re supposed to figure out which mortgage is best for you.
Good luck with that, right? That’s where a mortgage adviser comes in. But are they actually worth it, or just another middleman trying to take a cut? Well, I think there are some pretty solid reasons to consider using one. Not always, mind you. But often enough that it’s worth your attention.
Access to a Wider Range of Lenders
Here’s something most people don’t realise. When you walk into your local bank branch, you’re only seeing ONE lender’s products. That’s it. They’re not going to tell you about the competitor down the road offering a better rate or more flexible terms. Why would they?
A mortgage adviser, though, works differently. They’ve got access to dozens, sometimes hundreds of different lenders & mortgage products. Some of these lenders don’t even deal directly with the public. They’re called ‘intermediary only’ lenders, which is a fancy way of saying you literally cannot apply to them without going through an adviser first. These lenders often have competitive rates or specialist products that just aren’t available on the high street.
Think about it like this. You wouldn’t buy a car after only visiting one dealership, would you? Yet people do exactly that with mortgages all the time. An adviser opens up the whole market to you. Not every adviser has access to EVERY lender, so it’s worth checking. But even a decent adviser will have far more options than you could access alone.
And here’s the kicker. Sometimes the best deal isn’t the one with the lowest interest rate. There might be fees involved, or redemption penalties, or conditions about overpayments. An adviser can compare all of that properly.
They Actually Save You Time
Time is money. Cliché? Sure. True? Absolutely.
Imagine spending your evenings trawling through comparison websites, ringing up different banks, filling out enquiry forms & getting nowhere fast. That’s the reality for most people trying to sort a mortgage themselves. It’s exhausting. And frankly, most of us have better things to do. Perhaps not. But we’d like to think so.
A mortgage adviser does all that legwork for you. They know the market inside out, they understand which lenders are offering what, and they can narrow down your options in a fraction of the time it would take you. Instead of spending weeks researching, you have a conversation, explain your situation, and they come back with suitable options. Simple as that. Well, mostly simple.
I’ve seen people spend MONTHS trying to sort their mortgage out alone, only to end up frustrated & confused. An adviser can usually have things moving within days. That’s not magic. That’s just expertise & efficiency.
Tailored Advice for Your Circumstances
Everyone’s situation is different. You might be self employed. You might have a dodgy credit history. Maybe you’re buying a non standard property, like a flat above a shop or a house with a thatched roof. Banks can be… let’s say ‘picky’ about these things.
An adviser knows which lenders are more flexible & which ones will just reject your application outright. They can steer you towards products that actually suit YOUR circumstances, rather than you wasting time applying for mortgages you’ll never get approved for. That matters more than people realise. Every mortgage application leaves a footprint on your credit file. Too many rejections can make you look risky to other lenders.
I remember hearing about someone who’d been rejected three times before they finally spoke to an adviser. Turns out they were applying to all the wrong lenders for their situation. The adviser found them a suitable mortgage in under a week. Sometimes it really is about knowing where to look.
Handling the Paperwork Nightmare
Oh, the paperwork. THE PAPERWORK.
Mortgage applications require an absurd amount of documentation. Bank statements, payslips, tax returns, proof of address, proof of deposit, employment references… the list goes on. And heaven help you if you’re missing something or if a document is slightly out of date. Back to square one.
An adviser tells you exactly what you need upfront. They check everything before submitting it to the lender, which drastically reduces the chance of delays or rejections due to incomplete paperwork. They also deal with the lender directly, chasing things up when needed & making sure the whole process keeps moving. Because lenders can be frustratingly slow sometimes. You’d think they’d want to lend you hundreds of thousands of pounds quickly, but apparently not.
There’s also the application forms themselves. These can be confusing & if you fill them in wrong, it causes problems. An adviser completes these forms for you, making sure everything is accurate & presented in the best possible light. It sounds minor, but it genuinely makes a difference. Especially when you’re already stressed about the whole house buying process.
Protection Plans & the Bigger Picture
Here’s where things get interesting. A good mortgage adviser doesn’t just sort out your mortgage & disappear. They look at the bigger picture. What happens if you lose your job? What if you get ill and can’t work? What if, God forbid, something worse happens?
Most advisers will discuss protection plans with you. Things like life insurance, critical illness cover, income protection. Now, I know what you’re thinking. “They’re just trying to sell me more stuff.” And yeah, sometimes that’s true. But sometimes it’s genuinely important.
If you’ve got a massive mortgage & something happens to you, your family could be in serious financial trouble. These protections aren’t sexy or exciting, but they’re part of a holistic approach to sorting your finances properly. A mortgage adviser can recommend appropriate cover that fits your budget & circumstances. Not everyone needs every type of insurance, but it’s worth having the conversation. Even if you decide against it, at least you’ve made an informed choice.
That said, you should always shop around for insurance separately too. An adviser might not always offer the cheapest option. But they’ll at least make sure you’ve thought about it, which is more than most people do when they’re caught up in the excitement of buying a house.
They Can Save You Money
Right, let’s talk money. Because that’s what this is really about, isn’t it?
Some advisers charge a fee, some get paid commission from lenders, and some do both. It varies. But even if you’re paying a fee of, say, £500, a good adviser can easily save you thousands over the life of your mortgage. Finding you a rate that’s just 0.2% lower on a £200,000 mortgage could save you over £5,000 across a typical mortgage term. That’s not pocket change.
There’s also the matter of avoiding expensive mistakes. Choosing the wrong mortgage product, missing out on cashback offers, or not understanding penalty clauses can cost you dearly. An adviser helps you avoid those pitfalls. They’ve seen it all before & know what to watch out for.
Plus, many advisers offer ongoing support. When your fixed rate ends in a few years, they’ll be in touch to help you remortgage. That continuity is valuable. Most people just roll onto their lender’s standard variable rate without realising they’re suddenly paying way more than they should. An adviser keeps you on track.
When You Might Not Need One
Look, I’m not going to pretend every single person needs a mortgage adviser. That would be dishonest.
If you’ve got a straightforward situation (employed, good credit, standard property, decent deposit), and you’re confident doing research yourself, you might be fine going direct to a lender. Some people enjoy that process. Strange, but true. And there are some decent online tools that can help you compare products.
But even then, you might miss something. Perhaps a product feature you didn’t understand, or a lender you didn’t know existed. It happens more often than you’d think. I’m just saying it’s worth at least having an initial conversation with an adviser. Many offer free consultations where they’ll outline your options without obligation. What have you got to lose? An hour of your time, maybe.
The people who REALLY benefit from advisers are those with slightly more complicated situations. Self employed workers, people with impaired credit, first time buyers who are utterly confused (which is most of them, to be fair), or anyone buying an unusual property. For these folks, an adviser isn’t just helpful. They’re pretty much essential.
The Bottom Line
So there you have it. Six reasons to consider using a mortgage adviser. Are they miracle workers? No. Will every adviser be brilliant? Definitely not. But a decent one can make the whole mortgage process significantly less painful & potentially save you a considerable amount of money.
The key is finding a good adviser. Check their qualifications, read reviews, and make sure you understand how they’re paid. Ask questions. Lots of them. A good adviser won’t mind explaining things until you’re comfortable. If someone makes you feel stupid for asking questions, walk away. Simple as that.
Mortgages are complicated beasts. There’s no shame in getting expert help to tame them. Whether you’re a first time buyer or remortgaging for the fifth time, having someone in your corner who knows what they’re doing is invaluable. Just my opinion, of course. But I’ve seen enough mortgage disasters to know that going it alone isn’t always the smart move it seems.
