Home » Finance

What Is A Mortgage Advisor?

Jan 14, 2008
Much like a broker can help you find the best companies and finance, etc, a mortgage advisor can also help you find the best option for you. He or she can also help you in the application process, and offers an excellent service for anyone buying a house. The main difference between a mortgage advisor and broker is the training and expertise needed to do each job.

As well as the advice a mortgage advisor can give you when it comes to buying your house, they can also offer:

* Different mortgage options for you to choose from
* Advice on mortgage protection, repayments, re-financing, etc
* Offer building insurance alongside the mortgage itself

Although a mortgage advisor can discuss so many different financial aspects with you, they don't need to take any specialised training courses or need any professional qualifications initially. This is another aspect that sets them apart from a mortgage broker. They will need to take a basic training course, but this is more in customer service and relations.

The route to becoming an advisor is quite a straightforward one - normally starting off in a bank as a customer service representative, or an administrative role within a financial services company. If they decide to pursue the more dedicated mortgage advisor route, this is when the additional training will come into effect.

The Financial Services Authority (FSA) requires that anyone giving specialist mortgage advice needs to be proficient to a certain level. This means that to be a mortgage advisor, a trainee has to study for either the Chartered Insurance Institute (CII) Certificate in Mortgage Advice, or the ifs School of Finance in Mortgage Advice and Practice (CeMAP). If you want to use the services of a mortgage advisor, whether through your bank or otherwise, you should look for these qualifications.

Once someone has passed the relevant exams to become a specialist mortgage advisor, they can then take the next step up, and become a financial advisor. The benefit to you is that not only can you then use the same person to handle both your mortgage and other financial details - pensions, life assurance, etc - but you won't have to explain everything about your current situation to a different person every time.

Another area to consider if you are thinking about using an advisor to help you with your mortgage is whether or not they are being completely unbiased. For example, if you use your bank and they provide an advisor for you to work with, you would only be getting advice on the services that the bank itself offers.

However, if you were to use the estate agent selling the property, or a mortgage broker, then you would be offered a far greater choice and benefits from a much larger range of financial companies. This is definitely something to keep in mind when working with a financial advisor, and will make sure that you eventually get the mortgage and advice that's right for you.

Remember that all advice received is at no obligation until you sign on the dotted line. You should therefore not feel overwhelmed or pressured when gathering information from a mortgage advisor.
About the Author
Contact an independent Mortgage Advisor to discuss your Mortgage needs at UK Mortgage Source
Rating:
Please Rate:
(Average: Not rated)
Views: 158
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources