Independant Financial Advisor - Advantages & Disadvantages
What are the benefits + disadvantages?
Most people are probably a little shy when it comes to financial advisors, We invest a lot of trust into them and at the end of they day it is your money that we are dealing with! Buying a home can be a very stressful time. It is important to stay relaxed! Please use this link for stress management http://hubpages.com/hub/Stress-Management-Tips-Advice
I have just started using a financial advisor to help see me through a mortgage and buying a house. I will share with you my experiences so far, and what i recommend.
Always go with someone who has been recommended to you. It is good to know that you can rely and trust this person from the word go. Much of a financial advisors business comes through recommendation. Some even offer a cash reward if you recommend them to somebody else, who then goes on to use them.
With a financial advisor they should be scouring the market for you, looking for the best deals. Therefore in turn saving you money, and making some comission themselves from the banks, insurance companies etc for putting you their way. That is how it works when it comes to a buying a property. You shouldn't have to use any of your own money, which is great.
The financial advisor will be there to chase up any issues you have with the mortgage going through. He should find you solicitors that he recommends and follow up constantly to make sure everything is going smooth. This is a huge weight from your shoulders. Our financial advisor has managed to save us over £900 on solicitors fees alone, compared to that of what the estate agents offer. The finiancial advisor will scour the country if needed to find you the best options and result, whereas the estate agent won't.
A Financial advisor should always be contactable and there to explain things in plain english when the situations start getting a bit tricky and complicated.
So, as a summary, from my personal experience - so far.... I can say that the benefits of using a financial advisor for a mortgage are as follows.
- Offer excellent professional advice - They will save you money - You are not alone - It is in their best interests that everything goes as quickly as possible, so they will push for that for you.
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