True Cost Mortgages is an Independent Mortgage Broker in Liverpool.
According to research released by Legal & General; just under a third of borrowers who went direct to a lender didn’t realise how an independent mortgage broker could help in their mortgage search.
Consequently, thousands of borrowers are missing out on the opportunity to secure a better mortgage arrangement as a result.
Nearly two thirds of borrowers when taking out their last mortgage had no idea that mortgage brokers exist to provide borrowers with the widest possible advice and choices when sourcing the best deal and not there in support of the lenders. A little over one third believed that mortgage brokers were simply an extension of services by lenders.
This lack of understanding among so many thousands of borrowers who don’t realise how a mortgage broker works can mean they end up with a more expensive and less flexible mortgage arrangement.
In favour of the Independent Mortgage Broker.
The research went on to show that borrowers who used an Independent mortgage broker were strongly in favour of doing so next time around with 98% of the borrowers surveyed saying they found the support of a mortgage broker invaluable.
Around 95% of the respondents said they would strongly recommend using an independent mortgage broker to their friends and family. This shows an overwhelming level of support for Independent mortgage advice.
According to Legal & General Mortgage Club the mortgage industry needs to step up its education to borrowers in the demonstrable value to be gained in taking advice from an Independent mortgage broker.
With almost 12,000 mortgage products available to mortgage brokers compared to around just 2000 available through direct lenders, there clearly is a case for taking Independent mortgage advice.
At True Cost Mortgages we use the latest sourcing systems to find the most suitable arrangements from across the market for our clients. As leading Liverpool Mortgage Brokers we are here to help you.