Results from research indicate that one in five UK homeowners about twenty per cent spend a week or less looking into mortgage products before they make a decision to buy.
Almost half of borrowers forty nine per cent spend a month or less on research. This is despite the fact that a mortgage is likely to be the largest financial commitment many people make in their lives.
AFVE wants to help borrowers better understand the options available to them when finding their next mortgage, and to ultimately save them time, money and hassle when making decisions on mortgage products.
Mortgage advisers work to remove the stress associated with researching and applying for a mortgage, and ensure that borrowers receive all the information and advice they need to help them make informed decisions. With the number of products currently available, the importance of getting independent mortgage advice cannot be underestimated. This is especially true given the current market conditions of reduced lending and more stringent criteria. Although strict lending criteria makes it more difficult for many borrowers to get a mortgage, it is important that buyers find a product which best suits their specific circumstance and don’t settle for second best.
The results of the survey highlight a bemusing approach to how people select their next mortgage. A mortgage is likely to be the largest financial commitment many will make and yet one in five buyers are happy to spend less than a week considering it. The mortgage market can be extremely complicated, and a ‘one size fits all’ approach won’t be suitable for everyone. Providing access to a national advice service will allow borrowers to experience a better way of finding their next mortgage, and ensure their individual needs are properly met.
To make sure your needs are met why not call our team now on 0300 11 11 239, let us do the hard work for you.