Did you know? When it comes to buying a home, 84% of all buyers want/need financial advice during the process. It always surprises us that not everyone gets this sorted prior to house hunting. It really is a must-have requirement, especially if you want an estate agent and seller to take your offer seriously.
Research shows that only 64% of buyers do this prior to offering on home. It’s like going shopping without any money to spend. You can see things that you like but nobody is going to accept your offer until you can prove you have the means to buy. How do you truly know how much you can afford to offer?
Each day we register new buyers. A question we always ask potential buyers is if they have their funding in place. If they haven’t we will recommend that they speak to an independent financial advisor. That way they get an agreement in principle arranged so sellers will then take them seriously plus if they talk to an independent advisor, they truly know they are getting the best mortgage deal for their needs. They also know how much they can borrow and what it will cost them each month.
When it comes to mortgages on average 24% of buyers stick with their current provider. The reasons cited are it’s easier or some buyers are tied in. 37% of buyers actually find their own provider. I often wonder if they really have the best deal! 39% of buyers a mortgage advisor recommended by their estate agent.
Our advice is this, all home movers should seek advice and shop around to find the best mortgage deals, particularly following recent headlines. You could save yourself money and if you don’t, at least you can be confident that you have found the best deal for your needs!
My name is Michelle Gallagher. If you would like us to recommend a great independent mortgage advisor, please just ask me. I’ll give you the name of the one I always use!
Thanks for reading
Michelle x