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Below, you'll find
extensive information on leading fixed mortgage articles
and products to help you on your way to success.
Mortgage Broker Or Ifa?
By SeanH-9584
When you are looking
for a mortgage, everyone tells you that you
shouldn�t just take the first one you are offered. You
need to shop around for the right one.
This is true. But it�s not exactly easy. There are
thousands of products out there, all with different
features. How are you supposed to know where to start in
shopping around?
Obviously, the best thing is to consult a professional.
But first of all, you have to decide which professional to
choose! There are two main types � a mortgage broker and
an Independent Financial Adviser (IFA).
What does an IFA do?
The job of an IFA is to work with individuals or
businesses to help them meet their financial goals in the
best possible way. The adviser works with you on a
financial plan to make sure you can make the best
financial choices and ensure your own financial security
in the future.
First the IFA will use a fact-finding process to achieve
as accurate a picture as possible of your financial
situation, investment preferences, etc. On the basis of
this the adviser will work out a plan and recommend the
most suitable financial products. This includes not only
mortgages, but investments, pensions, and insurance
products.
What about a mortgage broker?
A mortgage broker, obviously, works specifically
with mortgages. Like the IFA, the broker will start
off with a questionnaire or a fact-finding exercise to
form a clear picture of your financial situation. Then
the broker will select a mortgage product that is
suitable for you, help you with your application, and
assist with the arrangements for obtaining the mortgage.
Which should I use?
Whether a mortgage broker or an IFA is better for
you depends on what you need.
If it is simply a mortgage that you need, then a
good mortgage broker is likely to have more
mortgage expertise than a good IFA who doesn�t do much
mortgage business. On the other hand, if you want
an endowment along with your mortgage, you do need
an IFA, as endowments can be tricky. And if you need your
mortgage decision to be part of a wider financial
review, or a complete financial plan, you should consult
an IFA.
The important thing is that you do consult a professional.
The world of finance is getting more complex all the time,
and you need to get the best possible advice in order to
make the right decisions.
Article Source:
http://www.articlemap.com
Sean Horton is a Director of
Enhanced Wealth Limited who are a specialist
mortgage broker
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