Whether you’re buying your first home, moving or looking to remortgage, you need to work with a mortgage advisor that you feel confident with.

The Mortgage Advisor will preferably be part of a team of dedicated Mortgage Advisors that will search the whole market to find the best possible deals for you. A good, independent mortgage advisor will offer a wide range of help and advice.

For most people, a mortgage is the key to buying your own home. And it’s also probably the biggest financial commitment you’ll ever make. A good mortgage advisor is impartial and able to help you make an informed decision. When you take out a mortgage, you should consider items such as; what are the benefits of a mortgage, what commitment do you need to make and you should be given advice on other things to think about before you commit.

The main benefit of a mortgage is that it helps you to own your own home!  Also, unlike renting, owning your home can be a significant investment as house values have historically increased.

If the value of your home does increase you get ‘equity’ that can be used to climb the property ladder, to make home improvements or to contribute towards your pension. You will be advised that your biggest commitment is to make the agreed mortgage repayments. A good mortgage advisor will work with you to ensure you can afford them. You will need to give out personal details such as your monthly outgoings. You will also have your credit history checked with a credit reference agency.

As with any other loan, you pay interest on your mortgage. The amount you repay depends on your deal and how long you take to pay back your mortgage.

The longer you take the more interest you pay over the life of the loan. You will be provided with a Key Facts Illustration with a breakdown of your deal including any fees. Premier Plus may charge a fee of £250 for arranging your mortgage, payable on application, plus a commission from the lender in the region of 0.3% of the advance. Alternatively you can opt to pay a fee of 1.5% of the advance on completion of the mortgage. If you choose a deal with Early Repayment Charges you will pay a fee if you switch to another deal during a fixed period.

You can repay the mortgage one of two ways. As a repayment or interest-only mortgage. With a repayment mortgage you pay off part of your mortgage and part of your interest each month. Initially you pay off more interest than the mortgage. With interest only mortgages, you only pay the interest on your mortgage not the mortgage itself. Although your monthly payments are lower, you must have enough money to repay the full amount borrowed at the end of the term; for example, with an investment or savings plan.

You must consider how you will cope if your repayments were to increase, for example, if there were any change to the interest rate. Also, what will you do if your circumstances change, for example, if you lose your job? You can discuss ways to protect you and your mortgage.

A good mortgage advisor will work for you, not for a multinational conglomerate. They should be happy to see you when it is best for you, they should be able to call and see you at home, work, or at their offices. They should also be happy to visit you in the evening if you prefer. After all, you are the client and we aim to please! Our qualified Mortgage Advisers can help you through the entire process.

Always remember, your home may be repossessed if you do not keep up repayments on your mortgage.