Should I use an Independent Financial Adviser?

Guy Collier is an Independent Financial Adviser at PJ Collier Financial Services Ltd in Coalville.

"In my experience people’s first port of call when they are seeking a mortgage is the local bank or building society where they hold their current account. It is a perfectly logical step and for most borrower’s a successful, happy experience! However, could you have actually saved money by shopping around? And what next for those people who are not offered the finance they require?

An independent mortgage broker has the freedom to search the whole market for the most suitable product without any links or bias to any company or their products. They can use their experience of dealing with both high street and less well-known mortgage companies to suggest a suitable lender no matter what your personal circumstances. Many advisers will be part of ‘mortgage clubs’ which gives them access to lender’s exclusive deals that they can offer to their clients.

The downside to seeking independent advice is that it comes with a cost. This will be off putting for some people; however, many advisers follow the same model as us and will usually not charge you unless they get you an official mortgage offer. Hidden costs can be a worry to many people and my advice would be to ask your adviser about all potential costs in your first meeting, at this point a good adviser will have no problem disclosing these to you. A final tip – assess all costs incurred as part of the whole financial picture, if you are going to save money in the long run by paying an adviser an initial fee it may be a worthy investment!

If you wish to discuss your mortgage needs with one of our Independent Financial Advisers, please call PJ Collier Financial Services Limited on 01530 835704. PJ Collier Financial Services Limited are authorised and regulated by the Financial Conduct Authority."