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    • Offset mortgages: term and payment reduction options
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    • 2019 year-end house prices
    • Can we expect sub 1% mortgagee deals?
    • How is Brexit likely to affect 2020 mortgages and house prices?
    • Interest rates in the UK, Europe and beyond
    • How the Great British Pound is faring against Euro and US Dollar
    • Help to Debt (HTD) – the importance of good advice when it comes to making borrowing decisions
    • Bank of England January 2020 base rate meeting
    • Lender Dual pricing: what it means to the mortgage seeker
    • Direct rates offered through lender portals can be costly?
    • Bank of England cuts the base rate to almost zero
    • Buying, selling and moving home during the pandemic
    • Tightening credit conditions in the mortgage market
    • One in seven takes mortgage payment holiday
    • The property market reopens for business
    • Lenders reintroduce 90% mortgage deals
    • Turbulent times for lenders
    • Easing out of lockdown
    • First-time buyer demand surges but options are limited
    • Stamp duty scrapped on homes under 500k
    • Competition watchdog investigates developers over mis-selling claims
    • UK economy may need further stimulus says the Bank of England
    • Your guide to mortgage valuations
    • Your guide to mortgage surveys
    • A quick guide to interest rates
    • A quick guide to inflation
    • The state of the housing market at the end Of 2020
    • What to look for in the 2021 property market
    • Price caps revealed for Help To Buy Scheme
    • Are 95% mortgages coming back?
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  • Mortgages
    • Introduction
    • 1st Time Buyers Mortgage Guide
    • 1st Time Buyer & Help to Buy
    • What is a Buy to Let Mortgage?
    • Buy to Let Mortgage Advice
    • Flexible Mortgages
    • Interest Only
    • Remortgaging
    • Repayment
  • Protection
    • Introduction
    • Do I need Income Protection Insurance?
    • Income Protection Advice
    • Why do you need Life or Critical Illness Insurance?
    • Critical Illness & Serious Illness Cover
    • ASU / Redundancy
  • Life Insurance
    • Introduction
    • Term Insurance Policies
    • Endowment Policies
    • Family Income Benefit
    • Guaranteed 50 Plus Life Cover
    • Whole of Life
  • Conveyancing & Solicitors
  • Surveys and Valuations
  • General Insurance
    • Introduction
    • Buildings & Contents Insurance
    • Compare & Buy Online Now!
    • Landlord Cover
    • Rent Guarantee
    • Home Buyers' Protection
    • Home Emergency Cover
    • Commercial Insurance
    • Professional Indemnity
    • Public & Employers' Liability Insurance
  • Will Writing & Estate Planning
  • Other Loans & Services
  • Articles
    • Bank of England Rate Rise
    • Fee Free Mortgage Advice
    • Negotiating the best price for your new home
    • Freehold versus Leasehold
    • Why you need advice on mortgages
    • Ten terms first time buyers will want to know
    • Buying process and dealing with estate agents
    • Selling property and marketing options
    • Help to Buy or not Help to Buy: that is the question
    • New home or pre-loved?
    • Interested in interest only?
    • Are lifetime mortgages on the rise?
    • General Data Protection Regulation (GDPR)
    • Solicitors and conveyancers
    • Joint Borrower Sole Proprietor Mortgages
    • The 3% stamp duty
    • First-time buyer stamp duty relief
    • Offset mortgages: how they work and who they work for
    • Self-employed mortgages versus mortgages for those employed by others
    • Mortgages: debts versus deposits
    • House prices increase swiftest in North West compared to rest of UK
    • Transfer of Equity
    • 10 Pitfall Mortgages
    • Remortgages versus product transfers
    • Limited Company Buy-to-Let Mortgages
    • Retirement Interest Only (RIO) mortgages and the new residential option between normal Interest Only and Equity Release
    • 2019 and our rate of interest predictions
    • Brexit and the property market 2019
    • Potential benefits of using a broker
    • The mortgage market: lenders and their existing clients
    • Mortgages and Relationships
    • Robo Advice: is it right for you?
    • Cheaper rates versus cheaper fees
    • Why online mortgage comparisons can be so vastly different
    • Affordability Calculators
    • Cashback Mortgages
    • Government Rent a Room Scheme
    • Government Marriage Allowance
    • The property market continues to move; and the North West is looking good
    • England letting fees banned and how this may affect you
    • Top credit file definitions
    • Understanding your credit rating
    • BTL, LTB, HMO & holiday let terms explained
    • Offset mortgages: term and payment reduction options
    • November 2019 Bank of England base rate
    • The general election candidates for the Chorley Constituency
    • 2019 year-end mortgage lending market
    • 2019 year-end house prices
    • Can we expect sub 1% mortgagee deals?
    • How is Brexit likely to affect 2020 mortgages and house prices?
    • Interest rates in the UK, Europe and beyond
    • How the Great British Pound is faring against Euro and US Dollar
    • Help to Debt (HTD) – the importance of good advice when it comes to making borrowing decisions
    • Bank of England January 2020 base rate meeting
    • Lender Dual pricing: what it means to the mortgage seeker
    • Direct rates offered through lender portals can be costly?
    • Bank of England cuts the base rate to almost zero
    • Buying, selling and moving home during the pandemic
    • Tightening credit conditions in the mortgage market
    • One in seven takes mortgage payment holiday
    • The property market reopens for business
    • Lenders reintroduce 90% mortgage deals
    • Turbulent times for lenders
    • Easing out of lockdown
    • First-time buyer demand surges but options are limited
    • Stamp duty scrapped on homes under 500k
    • Competition watchdog investigates developers over mis-selling claims
    • UK economy may need further stimulus says the Bank of England
    • Your guide to mortgage valuations
    • Your guide to mortgage surveys
    • A quick guide to interest rates
    • A quick guide to inflation
    • The state of the housing market at the end Of 2020
    • What to look for in the 2021 property market
    • Price caps revealed for Help To Buy Scheme
    • Are 95% mortgages coming back?
  • Enquiry Forms
    • Mortgage Enquiries
    • Protection Enquiries
    • General Enquiries
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  • Home
  • Why you need advice on mortgages

Why you need advice on mortgages

The comparison between comparison sites and professional advice

In this day and age, we are all becoming more tech savvy and buying more of what we need online, sometimes just at the click of a button on our phones. But when it comes to your mortgage, should you make this kind of decision in the same way? After all, for most of us, there is no greater financial commitment. It is tempting with comparison sites seemingly doing all the hard work for us and making it so we don’t need to meet a total stranger or even leave our living room.

However, there are many compelling reasons why advice from a mortgage professional is even more valuable now than in the past. When the Mortgage Market Review was adopted in April 2014, it became tougher for many to match banks’ and building societies’ criteria; and every year since has seen a rise in people using mortgage brokers to arrange their finance rather than going directly to the lender – hardly surprising given the inflexibility of some organisations.

If you employ a professional, trust them to get the job done – by a professional we mean a qualified whole of market mortgage broker or Independent Financial Adviser (IFA) who works for you. Not a bank adviser who can only sell their own products. Also remember estate agents are rarely qualified and do not have the same set of regulations protecting you as the above will have; and the broker/IFA is working for you, nobody else. Trust them with the market, they have nothing to gain by recommending you the wrong product and are professionally bound to recommend the most suitable one for your needs. If you look online and find a 'cheaper' deal it is almost certainly one not suitable for you in terms of borrowing what you want.

Remember, if you buy online through a search engine, you are making an 'informed choice' and have no comeback if it goes wrong; using a broker gives you the peace of mind that they are taking responsibility and you are protected by their regulations.

Also, it's not uncommon for mortgage deals on comparison sites to be out of date. This could mean going through to a lender, sending them all your documents, only to find weeks later that the deal they offered through the site has gone – imagine your disappointment as you discover that the bank now charges more than several others. Brokers’ systems are updated daily and they usually get notified if products are going to be withdrawn, at least a few hours in advance, meaning they can reserve the old rate for you, if the new rate is higher.

Importantly, everyone’s situation is different and a broker gives you bespoke advice. Perhaps you have missed credit payments, have a lot of outgoings, are borrowing the maximum you can, are short term self-employed / contracted or have little or no deposit equity. Or if you are new to the UK, or even your job, or are using an elaborate tax plan recommended by your accountant to declare minimum income – there are other scenarios too – picking out the 'best rate' from a search engine is useless to you as that company will probably not lend to you. A broker will know who can lend to you, what they will need from you and how long it might take, as well as what it will cost. Your broker will also deal with all the calls, emails, document requirements and inevitable curveballs from the lender to save you the stress.

An experienced broker has picked up other information over the years too, like good solicitors to use, how to handle the agent or even haggle the price and they have good contacts at all major banks and building societies which can prove very helpful should the path not be a smooth one; sometimes they even get better rates than you can get going direct. What's not to like?

We have an experienced team of advisers who will be only too pleased to help you and we are free to use.

So remember Euxton Mortgage market and No Broker Fees when looking at mortgages.

 

Company address: Euxton Mortgage Market, Hearle House, 5 East Terrace Business Park, Euxton Lane, Chorley, Lancashire, PR7 6TB
T: 01257208946 F: 01257208947 Email: info@euxtonmortgagemarket.co.uk

Euxton Mortgage Market are independent mortgage advisers covering Euxton and the surrounding areas, including: Leyland, Bamber Bridge, Farrington, Lostock Hall, Longton, Adlington, Charnock Richard, Croston and Rivington.

Adrian John Wood, trading as Euxton Mortgage Market, is an appointed representative of HL Partnership Limited, which is authorised and regulated by the Financial Conduct Authority.

*Some of these products are not regulated by the Financial Conduct Authority.

Adrian John Wood is entered on the Financial Services Register (www.fca.org.uk/register) under reference 682490.

H L Partnership Limited is entered on the Financial Services Register (www.fca.org.uk/register) under reference 303397.

The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK.

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