Free Mortgage Advice

admin — Thu, 24 Mar 2011 14:52:45 +0000

There have been better times to be looking for a mortgage, but they are still available, and by and large independent mortgage advisers are the best people to put you in touch with the right one for you. Fair enough, the huge multiples of income, ridiculously high valuations and loan to value, often equaled and sometimes exceeded a reasonable assessment of the property is thankfully behind us and a good thing too. Too many people were encouraged by readily available funds to pay too much for houses that they could not really afford and a even though minimum deposit requirements have increased (90% mortgages may still exist for people with good credit, but 80 to 85% now the normal) many interest rates at their lowest level on record and now that house prices have fallen back significantly in many areas of the property is far more affordable than it was a few years ago.

A post from: Mortgage Brokers

Mortgage Advisers

admin — Thu, 24 Mar 2011 14:52:07 +0000

A professional independent mortgage adviser essentially acts as a mediator between a perspective homebuyer and a lending institution. The mediator works with the buyer to find the best mortgage deal possible. For this service the broker receives a fee or commission, the buyer is able to buy the home of his or her dreams.
A mortgage broker differs from the mortgage banker (or loan officer) in that a mortgage banker loans money from his or her own institution, while the broker obtain lending institutions and finance companies to find money for his or her client. The banker working for the bank, the broker can either work for a brokerage firm or be self-employed. Broker works with many sources, sometimes as many as sixty at a time.

A post from: Mortgage Brokers