The housing market has become even more challenging lately. The challenge is no longer rapidly rising prices; house prices may or may not be on their way down, depending on which index you look at.
The Halifax is predicting UK house prices will fall by 8% in the year ahead however Nationwide expects they will go down by around 5%. Rightmove, on the other hand, suggests that asking prices went up in the early part of January.
But whether prices are heading down or up, the challenge has become that of getting a mortgage, and of making sure it is the most suitable one for your circumstances.
At Continuum we believe there are six very good reason for using a Mortgage Adviser.
1. You need a mortgage
Lenders are currently nervous about the economy and are setting the bar for approving a loan ever higher.
Getting expert help from a Mortgage Adviser can not only save you time and trouble but can make the difference between getting a mortgage offer and not.
2. You need to see the whole market
You could go direct to a lender. Most high street lenders will be glad to help you.
They may have an adviser who will work with you to give you their most appropriate deal – but they are limited to the deals they offer. It means you will never know what other lenders are offering, which could include lending products that are much better for you.
An independent adviser, such as Continuum can look at the entire lending market.
3. You don’t know what’s out there.
As a potential borrower you may not be aware that the high street names are just a fraction of the entire mortgage industry. There are more than 90 mortgage lenders in the UK, many of which you will not be able to access, and which do not advertise their rates or products.
These specialists work only through brokers. At Continuum, we know all the lenders in the UK market, and can ensure that we can talk to them on your behalf.
4. You could be spoilt for choice
Paradoxically, although mortgage lenders may be harder to persuade in the current climate, choosing what to apply for can be harder than ever. There are thousands of different products, and even knowing about them all may be impossible for you. Understanding the most suitable products for you, is not just a matter of going for what looks like the cheapest rate. There can be many other considerations to ensure you are getting the most appropriate deal for the long term.
At Continuum we can work with you to identify your real needs and find the loan product that works best for you now and in the future.
5. You need to get the most suitable deal
Mortgages have become expensive again, and if you are to be able to afford your home it is essential to get the most suitable deal. But although some mortgages and some providers are obviously better than others, every borrower has different financial circumstances. It can be impossible to know what really works hardest for you unless you have an expert who can work to understand what your needs and circumstances really are.
At Continuum, we are on your side. We are not out to sell you a product from a particular lender.
6. You need a mortgage strategy
Actually, getting the most appropriate deal now is only part of the story. Buying your home may take years, and in that time, you may need to change your mortgage and your lender more than once.
At Continuum we can work with you for the long term and develop a mortgage strategy which will help ensure you always have the most suitable deal for your changing needs whatever the future holds.
Ready to buy a first home, ready for a move up the housing ladder or looking for a remortgage to cut your outgoings, at Continuum we believe the case for a Mortgage Adviser is clear. To get our expertise working for you, call us.
The information contained in this article is based on the opinion of Continuum and does not constitute financial advice or a recommendation to suitable mortgage products, you should seek independent financial advice before embarking on any course of action.
Your home may be repossessed if you do not keep up repayments on your mortgage.
https://www.reuters.com/world/uk/uk-house-prices-slide-again-december-down-15-mm-halifax-2023-01-06/
https://www.reuters.com/world/uk/uks-nationwide-sees-5-house-price-fall-2023-2022-12-20/
Toughest time to get a mortgage in 15 years as banks brace for defaults (telegraph.co.uk)
Home buyers return to market as mortgage rates fall (telegraph.co.uk)
More than 750,000 households at risk of mortgage default (telegraph.co.uk)
