For a lot of people, when the time comes to try and get a mortgage, whether it be their first ever mortgage or a remortgage later in life, they tend to just give the bank they have their current accounts with a call and take whatever mortgage advice and deal they offer. If this is how you sought your own mortgage, you could be paying many thousands, even tens of thousands of pounds more over the lifetime of your mortgage than you have to.
Watch our quick video below to see how one of our Edinburgh mortgage advisors can help save you hundreds, or even thousands of pounds per year on your mortgage:
Alternatively, by using an experienced independent mortgage adviser or mortgage broker, you will be able to get whole of market access and full comparison between all the deals available.
This means you can see in simple terms what deal is going to be the best for you in terms of repayments and whatever other features you require to suit your needs.
The other massive advantage of using an Edinburgh independent mortgage broker is that the advice is completely impartial. By simply visiting a bank who only have in house mortgages available, you can almost guarantee that you are not getting the best possible deal available to you.
Independent mortgage advisors often have access to exclusive deals too, these are deals that no banking institutions can access, only independent mortgage brokers.
Our Edinburgh mortgage brokers and advisers can provide you with expert advice on the following types of mortgages:
Edinburgh first-time buyer mortgages
If you're a first-time buyer you are likely to be the person who will benefit most from independent mortgage advice.
The advisor will help you prepare your mortgage application to give you the maximum chance of landing that elusive first home of your own.
They will help save you money initially, and in the long run. You have already saved long and hard for your deposit, so you want a mortgage deal with the lowest possible interest rates and fees.
Buying your first home can seem a little daunting. You may not know much about the house buying process and you will hear a lot of baffling financial terms. You may wonder what all the different fees relate to, what fixed rate, variable rate and interest-only all mean - not only in general but for your specific needs. An independent mortgage advisor will explain all this to you and help you through the minefield.
Edinburgh remortgages
Remortgaging means switching your mortgage to another lender, or renegotiating a better deal with your current lender.
You may have come to the end of your fixed term deal or a special introductory offer. Is your mortgage still meeting your financial requirements?
Or is it time to seek advice over a better deal?
Basically, remortgaging is taking out a new mortgage contract in place of your the one you have at the moment.
Your lender may want you to stick with them and the standard variable rate you are currently paying.
Maybe, it is worth checking with an Edinburgh independent mortgage advisor to see if there is a better product that could save you money.
It is possible your circumstances have changed since you took out a mortgage - whether they have improved or you have hit hard times, the advisor will be honest with you and present the options for going forward in an unbiased manner.
Alternatively, you may wish to borrow money to improve your home, remortgaging might be a cost-effective way of going about this.
Your advisor can analyse your finances and help you decide if it's possible for you to pay more or less back a month with a new deal.
It's possible that your financial position has improved and you would now like to pay more and your current deal won't allow this.
Conversely, you may need to pay less as your income has fallen. Independent advice will spell out the options available to you.
Edinburgh home mover mortgages
Moving home has been said to be the second most stressful time in a person's life after the death of a loved one.
So why not let someone else do most of the legwork?
You may want to move your current mortgage to a new property or apply for a new mortgage completely.
What are the advantages and disadvantages of each option for you personally?
An independent mortgage review of your current financial product can help you decide. The advisor's expert knowledge of the current market conditions will help you decide which way to go.
A mortgage advisor will be in touch with the market, therefore they will be able to advise on whether or not it is a good time to buy or sell, how the market is likely to change in the near future and the advantages and risks of any decision you may make.
Edinburgh buy to let mortgages
If you are considering buying a property to rent it out to tenants in Edinburgh, or anywhere else in the UK, you will need a buy-to-let mortgage.
Mortgage products specifically for people who require a mortgage for this purpose are different from other mortgages available.
Buy-to-let mortgages generally have higher rates than other residential mortgages and are based on expected rental income rather than your salary.
This is because lenders view this type of mortgage as a higher risk option. Typically, the landlord depends on the rent in order to pay the mortgage, so is reliant on somebody else's finances. If the tenant defaults on their rental payment, the lender sees there is a risk the landlord will be unable to pay their mortgage.
Because of the higher rates, getting the right advice is even more important. The buy to let market is completely different from the residential market and independent advisors will have their fingers on the pulse of that market; they will be able to tell you what type of mortgage is best for which type of investment.
There are also local authority rules which apply to the rental market, especially when it comes to HMOs, your advisor will be able to tell you how these will affect your rental income and therefore the mortgages available to you.
Our advisors can also help you get the best deal on limited company buy-to-let mortgages.
The Financial Conduct Authority (FCA) does not regulate some buy to let mortgages.
Edinburgh commercial mortgages
You may not be able to call some lenders directly to get a commercial mortgage.
Some lenders work exclusively with advisors in this field. These advisors may have such contacts and might be able to get you special rates.
Commercial properties incur greater administrative and legal fees, so getting the right advice makes sound financial sense.
Again, market conditions vary from place to place and your advisor will be able to give you expert advice on this - you might even be buying outside the area in which you live, making such advice even more invaluable.
Other properties and assets might be used as security in some cases - your advisor will be able to explain this in more detail - including the advantages and disadvantages of going down this route.
Our advisors can also help you with the following mortgages and services:
- New build mortgages
- Debt consolidation
- Equity release
- Bridging finance
- Capital raising
- Adverse credit
Speak to our whole of market, independent Edinburgh mortgage experts today to ensure you are getting the best possible mortgage advice.
You have nothing to lose by arranging a free consultation with one of our experienced mortgage advisers, and it could end up saving you tens of thousands of pounds over the lifetime of your mortgage repayments.
Simply fill out the form at the top of this page, it only takes 10 seconds. One of our Edinburgh mortgage adviser experts will be in touch with you shortly after you submit the form. Alternatively, give us a call now on 0131 564 1940.
Here are the answers to some of the most frequently asked questions we receive about our Edinburgh mortgage advisors:
"I always knew I needed to seek financial advice and I always knew I needed to use an independent financial adviser so the advice I was receiving was completely impartial and unbiased.
I found Edinburgh IFA when searching Google and from start to finish the experience has exceeded my expectations.
The adviser they matched me with had 8 years of experience in the industry and a vast knowledge when it came to pensions and investments, he also got me so many additional benefits that I would never have known about without his advice. I couldn't be happier with the service provided."
