Are you thinking of property shopping? The excitement is unreal huh?! In all excitement, it is crucial that you seek advice before looking at properties. For most of us, our mortgage will be the biggest financial loan or commitment that we will ever have. Instead of rushing to look for your home, it’s advisable that you seek advice before looking at properties from a professional adviser.
Often, you will get advice from family and friends, you may know something about finance, or you may also find some information online which would be helpful, but I would recommend that you speak to a professional adviser. Your mortgage will be the biggest loan you have, and due to the loan size, it’s also a very long-term financial commitment. For this reason alone, you should seek all the advice that you can.
Small changes can make huge differences to the total cost of your mortgage.
Looking for Advice?
It’s best to seek advice from someone in the business. Yes, you may receive advice from your close friends and family, and it can be very helpful; however your circumstances or situation may differ to theirs. You can either seek advice from a bank (this is the obvious place to seek advice on mortgages) or a mortgage adviser who will help you in many ways. Your bank will offer advice, but often the advice that your bank will offer, is limited to what they can offer.
The better option is to speak to a mortgage adviser.
I am a mortgage adviser and I will be happy to offer free advice with the benefit that I know details on a range of finance options from the banks and non-bank lenders.
Of course advisers would love to arrange the finance for you too as that is how they get paid – generally from the bank at no additional cost to you.
You should get advice from a few sources and from that information you will be able to make better decisions, but even once you have a mortgage it is recommended to review your situation on a regular basis as things do change and you want to be able to fine tune your mortgage or even refinance your mortgage if there are some benefits to you.
