Should I Use an Independent Financial Adviser

In recent years, Independent Financial Advisors (IFAs) have already been used by many people instead of mortgage brokers. The main reason for this is that you will find a crossover between the services they offer.

IFAs and home loans usually receive their qualifications from the same few training institutions. Whenever a person receives their qualification in one of these fields they just need to complete a reduced amount of exams to receive the other qualification.

Lease Option is one indication that mortgage advisors and IFAs undertake similar activities.

Because mortgage repayment costs account for the largest expense in a standard household, having the right product is seen as a necessary element to prudent financial planning.

It is for this reason, above all else, that people have already been embracing their financial advisor to source the proper mortgage deal for his or her needs. Many IFAs will have completed the qualifications and training necessary to become a large financial company and will be in a position to assist their clients in finding a home loan with ease.

Mortgages may also be interlinked with insurance. Interest only products will most likely require some type of insurance to cover the function of the mortgagor being unable to meet their obligations due to accident, sickness, or unemployment.

IFAs have an in-depth understanding of the insurance market and may therefore offer advice in such matters when a client applies for a mortgage with them. Many home loans also offer insurance products with their clients as an additional service.

Even though your IFA does not offer a mortgage broking service, it is likely that they will be able to refer you to somebody who they regularly put their clients' business through.

However they quite often do offer both services if you curently have an IFA and are searching for mortgage advice, it could not be essential to seek out the services of a separate mortgage broker.