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When the best time to speak to a mortgage adviser?

The finest time to have your first chat with a mortgage adviser is before you begin the search for a property. As experienced professionals, they’ll review your personal occurrences and tell you what you can afford to purchase, which means you’ll be capable to look for the right properties from the very opening. They can also supply you with a Decision in Principle, which you’ll require when the time comes to putting in a proposal. The answer to the question “When the best time to speak to a mortgage adviser?” is given in this article.

What is Mortgage Advisor?

 A Mortgage Advisor is an independent individual between you, the borrower, and the bank or finance company that you’re examining to obtain a mortgage from

When should you speak to a mortgage broker? 

The following are the times to speak to a mortgage broker:

When the best time to speak to a mortgage adviser?
When’s the best time to speak to a mortgage adviser?

When you’re first thinking about buying a home or investment property 

“I’m not willing to speak to a broker” is something we hear a lot. But the truth is if you’ve got property plans, speaking to a broker will set you up for victory. They’ll feed guidance on where you are and where you require to be to enter the property market. 

When you’ve saved up a deposit 

So you’ve saved up a hefty deposit for your new home, nice one! Now? A good mortgage broker will take the time to explain how the process works, and what you can afford to pay and then put your best interests forward when devoting to a home loan. 

When you’re going for pre-approval

Pre-approval is like a silent thumbs up from your lender to borrow cash for your home. And it’s super handy because it suggests exactly what’s in your budget so you can limit your search. Acquiring a mortgage broker involved at this stage will assist move the process along, as they’ll take care of the paperwork and significant details. 

When you’re actively going to house inspections

So you’re paying your Saturdays at house inspections (or maybe you’ve even encountered“the one”). Well, it’s not too tardily(in fact, it’s a great time) to obtain in touch with a mortgage broker as they can track down an outstanding home loan for you before you initiate raising your hand at an auction.

When you’re refinancing your current home loan

If you’ve already bought a home, refinancing is when you substitute your existing home loan with a new one. And it offers you the opportunity to secure a better deal and achieve your goals sooner. If you’re ready — or even considering refinancing — it’s a fine idea to chat with a broker. They’ll be capable to calculate the potential savings for your situation or assist you to plan ahead (eg. if your set rate mortgage is ending soon), plus assist with the heavy lifting once you’ve chosen your desired option.  

When you’ve bought a property, but don’t have your finances sorted yet

Eeeek, so you’ve purchased a property without having your finances authorised by a lender. A bit of a riskier approach, but not uncommon either. There’s no time to dilly-dally now — speed is key in this scenario. It’s critical that you go to a lender who will act fast and give your scenario the most suitable chance of approval (which can ultimately avoid a sticky situation). Which lender is this you ask? Speak to an expert who deals with 30+ lenders daily, and you’ll be off and running!

What happens if I wait to see a mortgage adviser until after I’ve made an offer on a property?

In some instances, waiting until later on to see a mortgage adviser could slow down the process of buying a home or getting the property that you wish.

Most sellers will ask you to deliver a Decision in Principle when they receive an give on a property – this proves that you are in a position to obtain a mortgage and are in a good position to proceed with the purchase. If you don’t have a Decision in Principle to show when your proposal has been accepted, the seller will likely keep the property on the market and permit other viewings or deliveries until they receive this from you. This means you could be at risk of losing out to another buyer who already has things ready and is in a position to proceed faster.

Reasons to use an adviser

  • They’ll check your finances to make sure you are likely to compete with the individual lender’s lending and affordability criteria.
  • They might have premier deals with lenders, not otherwise available.
  • They often assist you to complete the paperwork, so your application should be dealt with faster.
  • They’ll help you take all the costs and features of the mortgage into account, beyond the interest rate.
  • They should only recommend a suitable mortgage for you and will tell you which ones you’re likely to gain.

Are mortgage advisors worth it?

It’s essential to see a mortgage adviser at the start of your mortgage journey whether it’s your first mortgage or you’re looking to re-mortgage. It will save you time and struggle in the long run. It’s a good idea to speak to a few various firms to see what’s on request and to compare fees.

What’s the difference between a mortgage advisor and a broker?

A mortgage adviser is a qualified professional who specialises in discovering the most appropriate mortgage deal for your circumstances. Often they will be called mortgage brokers, but there is no absolute difference between an adviser and a broker.

The Importance of Hiring a Home Mortgage Advisor:

The Importance of Hiring a Home Mortgage Advisor
The Importance of Hiring a Home Mortgage Advisor

Once you have decided that the only way forward to create that dream home purchase is through a mortgage, there is one crucial decision you require to make. Are you going through the whole process on your lonesome, or are you going to seek the assistance of a mortgage broker?

This choice is crucial because the right mortgage option creates all the difference which might save you from paying thousands more in interest and fees. After all, home loans do not arrive in free size, and therein lies the challenge: how to find a mortgage that will suit you according to your financial demands.


It’s a great idea to fulfil with a mortgage advisor when you’re in the process of saving. They can let you know if you’re saving sufficiently per month, and if you have enough left over at the end of per month too.

FAQS about When the best time to speak to a mortgage adviser?

Do mortgage advisors get better rates?

Better deals: Whole-of-market access often means mortgage advisors obtain better rates. There’s more possibility of securing a competitive mortgage deal if you have bad credit. Mortgage brokers can also obtain better deals for self-employed applicants or those with complex incomes.

What time of the month is best to apply for a mortgage?

For many lenders, the start of the month is when they are trying to reach the most applications, while the middle of the month is the time to collect all the supporting documents and prepare loans for final approval.

When should you approach a mortgage broker?

It’s important to see a mortgage adviser at the beginning of your mortgage journey whether it’s your first mortgage or you’re looking to re-mortgage. It will save you time and struggle in the long run. 

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