When Should You Get A Mortgage Advisor?

Buying a property can be a stressful process – but having a quality mortgage advisor to guide you through the process can take some of the stress off your shoulders. However, not everybody knows when to first contact a mortgage advisor.


Do you call a mortgage advisor when you’re thinking about buying a property? When you’ve found your dream home? When you’re ready to put an offer in? At what stage of the process do you first call a mortgage broker? Read on to find out.

Why Use A Mortgage Advisor?

Regardless of whether you’re a first-time buyer or you’re looking to expand your property portfolio, you’re sure to benefit from getting a mortgage advisor to guide you through the process and find you the best mortgage deals.


Mortgage advisers tend to have a wide network of connections with lenders in your local area and can find you exclusive deals that can save you money in the long term.


They will take the time to assess your application and make it as likely as possible to be accepted for a mortgage at the best rate available to you.


A mortgage advisor can also help you to complete the relevant paperwork involved in purchasing a property – especially your mortgage application. This means that your application may be dealt with much quicker, meaning you’ll get your keys sooner.


One of the most important jobs of a mortgage advisor is to check your financial position. They’ll assess your income and deposit as well as outgoing costs. They’ll assess the mortgage rates that will be available to you and advise you on the best course of action to take for your circumstances.


Ultimately, a quality mortgage advisor can increase the chances of your being accepted for a mortgage. An unsuccessful application for a mortgage can affect your credit report, and reduce the chances of you being accepted a second or third time.

At What Point Should I Get A Mortgage Advisor?

Although you can contact a mortgage advisor at any point during the property purchase process, it’s best to contact one as soon as possible. As soon as you’re thinking about buying a home, book an appointment with a mortgage broker to discuss your options.


It’s generally better to discuss your options with a mortgage broker before you start looking for homes and attending viewings. This is because you may fall in love with a property and then discover that it’s out of your budget.


Talking with a mortgage advisor before attending viewing properties is more important than ever in 2022 as many agents request that you have an AIP (agreement in principle) in place beforehand.


If you’re a first-time buyer, you’re sure to benefit from mortgage advice – especially if you’re unsure of the process. A mortgage advisor can help you through each step of the process, essentially streamlining the property purchase – whether it’s regarding commercial mortgages or personal financial loans.


After your initial meeting with a mortgage broker, you’ll have a greater understanding of your budget and what type of mortgage you’ll be eligible for. For example, if you only have a small budget, your mortgage advisor may let you know that shared ownership mortgages might be your best option.

What To Expect From Your First Meeting

Your first meeting with a mortgage advisor will give you a great insight into what kind of properties are available to you and within your budget. During your first meeting, be sure to ask what kind of deals will be available to you and whether they can find special rates or discounts.


Your mortgage advisor may check your credit history, whether it be with a single agency such as Experian or a program that uses a combination of agencies.


During the first conversation with your mortgage advisor, you can ask them any questions about the home buying process – for example, the difference between freehold and leasehold, or whether it’s worth opting for a shared ownership property. Your mortgage advisor may also be able to help you source the best insurance deals too.


At LTC Mortgages, we can provide you with all the help and advice you need throughout the mortgage process – and find the best mortgage loan deals for you and your circumstances.


Whether you’re based in Liverpool or just outside the Liverpool area, we can streamline the property purchase process for you – saving you time, energy, and money.

Documents You’ll Need

Before meeting or after your initial meeting, your mortgage advisor will ask for some documents – a form of photographic identification, a payslip or proof of income, and a recent bank statement.


They’ll need to provide proof of photo ID such as a passport or driving licence to confirm your identity – they may ask to scan your ID for future reference, or take a photo of it.


You will also need to provide a recent bank statement. This is to give your mortgage broker insight into your finances and expenses. It is usually easy to acquire a bank statement – you can either download a statement by logging into your online banking account, or you can contact the bank and request a statement via the post.

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