Following-on from yesterday’s post, hopefully you’re convinced that you should use a Mortgage Advisor. Now we’ll look at what makes a good one;

Expert Knowledge and Experience. It almost goes without saying, but a top-notch Mortgage Advisor must have an in-depth understanding of the mortgage market – including current products, interest rates, and lending criteria. This knowledge enables them to provide accurate and relevant advice tailored to their clients’ needs. Keeping up-to-date with changes in regulations and market conditions is crucial​​. It also almost goes without saying that your advisors should be “whole of market” – just ask them, and if they’re not, look elsewhere.

Strong Communication Skills. Effective communication is essential for Mortgage Advisors. They must be able to explain complex financial concepts in simple terms, ensuring that clients fully understand their options and the implications of their choices. Clear, concise, and empathetic communication builds trust and helps clients feel confident in their decisions​. It is important that they are proactive communicators – you should never be chasing them.

Attention to Detail. The mortgage application process involves a significant amount of paperwork and precise documentation. Advisors need to meticulously check every detail to ensure accuracy and compliance with regulations. This reduces the risk of application rejections and delays – which can quite easily cost you alot of money if for example a product has an expiry date​.

Problem-Solving Abilities. Mortgage Advisors often encounter clients with unique financial situations that require tailored solutions. Being able to think creatively and offer innovative solutions to overcome obstacles is a valuable trait. This includes negotiating with lenders to secure the best possible terms for clients​. A great Mortgage Advisor will be able to find a creative (legal) solution to a problem.

Integrity and Ethical Standards. Trustworthiness is fundamental in financial advising. Clients need to be confident that their advisor is acting in their best interests. Adhering to high ethical standards, being transparent about fees and providing unbiased advice are critical for maintaining client trust and building a strong reputation in the industry​​.

These traits help ensure that Mortgage Advisors provide high-quality service, fostering long-term client relationships and successful outcomes in the mortgage process. The best way to choose a Mortgage Advisor in our opinion is on recommendation. If you are interested in an introduction with our preferred Mortgage Advisor, then reach out.

Married2Property are a family-run property company that aims to create social good through property.

These articles are written by Darren de Wal based on his many years of experience as an active Property Investor since his first investment property in 2012 and 16 years getting to a senior leadership position as an Officer in the Royal Air Force. They are for the benefit of those with a general interest in Property, as well as those wishing to start out investing themselves.