Mortgage Advice In Edinburgh: Do You Need It?

Mortgage advice in Edinburgh plays an important role in guiding people to find the right mortgage for their situation. For most people, a mortgage will be the biggest financial undertaking that they will ever have to deal with in their lives. However, a mortgage can go very wrong without due consideration. It is often a lifetime commitment and, as such, should be treated with the proper gravitas it requires. After all, if you fail to make your mortgage repayments, your home could be repossessed. This is why many in the Lothian area think about taking on a financial advisor in Edinburgh to navigate the potential pitfalls. But is it worth it? Do you really need financial advice before you take on a mortgage?

Why Bypassing A Financial Advisor In Edinburgh Can Be A Bad Idea

When a lender refuses a mortgage application, it may be an understatement to say that it can really sting. Applicants often make all sorts of life plans in advance of being approved, but a refusal can put a complete halt to all of these plans. This is especially true of those under 40 years of age. While the average age of the first-time buyer is thought to be 37, it is believed that it is going to rise to above 40 due to ever-increasing house prices. This can mean that most first-time owners will be into their 60s, perhaps even their 70s, by the time they pay off their mortgage. So even if you have your mortgage application accepted, you may find yourself regretting the deal you chose in later years. Edinburgh mortgage advisors can help you determine what type of repayment plan could be right for you and your financial situation. Unfortunately, many people are rejected for mortgages before even getting the chance to regret their decisions. This can happen for a number of reasons. A low credit score, for example, is a major obstacle for a lot of applicants. A good independent mortgage advisor and financial advisors in Edinburgh will be able to look at your finances before application and advise you on your mortgage options to ensure you have the best chance of success. There are also other issues such as factors relating to the information provided on the application, the lender's discretion, and so on.

Reasons Why You Need Edinburgh Mortgage Advice

Today, people are bombarded with pressure to secure a mortgage as soon as possible, from any source possible. There are countless adverts from a huge array of lenders advising people on why they should pick their product. Then, there are the likes of comparison websites that allow you to see all of those available mortgage products. However, the systems on comparison websites are no substitute for the tailored advice offered by an Edinburgh mortgage advice specialist. With lenders tightening their rules to ensure they don't take unnecessary risks and lose out on any money, an advisor can be a welcome guide through the mortgage application process. Despite the fact that recent regulation changes mean that lenders have to offer you advice if you approach them for a mortgage, usually the best idea is to seek advice that is independent and bespoke to your unique circumstances. Lenders, naturally, have their business’ best interests at heart, and so they will often try and tempt you with their own financial products, rather than exploring the entire marketplace. Independent advisors can help you examine alternative mortgage products that you may not have considered. Specialists at a good mortgage advice centre in Edinburgh can help you understand all of the mortgages available to you and whether or not these products will suit your particular financial circumstances. You'll find such specialists in Edinburgh at Rowanbank Financial Consultants Limited. Rowanbank's expert staff offer financial advice on a number of financial products and services – including mortgages. When delivering mortgage advice in Edinburgh, we strive to reduce jargon and allow everyone to understand the mortgage and repayment options available to him or her.

For Mortgage Advice In Edinburgh, Contact Rowanbank Financial Consultants Limited

Our experienced, professional financial advisors at Rowanbank Financial Consultants Limited will always put our clients first. We are staunchly independent, and our only allegiance is towards ensuring that our customers get easy-to-understand yet comprehensive financial advice. Our team has nearly 100 years of collective experience in providing financial advice. We offer mortgage advice in Edinburgh and beyond. For more information on our services and working with a Rowanbank financial advisor in Edinburgh, please visit https://rowanbank-ltd.co.uk. To talk to us today about your mortgage and wider financial decisions, you can call us on 0131 554 7365, or you can email [email protected]