The right mortgage advice could save consumers a fortune
July 6, 2008
According to officials from the Association of Mortgage Intermediaries seeking the right mortgage advice from a trained and experienced professional could save the average consumer a small fortune on the cost of mortgage repayments. Officials claim that the global credit crunch has made it more difficult and more expensive to find the right mortgage, but by enlisting the help of someone such as an experienced Independent Financial Advisor consumers could ease the process and save a fair amount of cash on annual repayments.
One official from the AMI said: “Intermediaries are able to identify the most suitable product for the consumer at a competitive price. Analysis of consumer attitudes shows they value this advice much higher than that provided by lenders.” He added: “In these difficult times it is more important than ever for consumers to access good financial advice. “Advisers know their clients and use this insight and their knowledge of the market, to identify the most suitable and most price competitive products for the client.”
However, the AMI has expressed disdain over recent comments from the Financial Services Authority relating to consumers often being able to get a better deal direct from lenders than through intermediaries. The AMI said: “To suggest that a direct deal could be more competitive fails to recognise the service provided by an intermediary. This leads to questions such as, should an IFA tell an investment client that they may get a better deal by going direct? Should a tied adviser refer to the fact that their customer may get a better or more suitable product from an independent adviser?”
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