There are plenty of ‘money experts’ floating around at the moment and, by and large, they’re doing a really important job - making money something that the general public are talking about.
Take Martin Lewis’s Mortgage Advice for example, he’s a financial journalist who brings money saving tips to the top of people’s news feeds, which can only be a good thing in the current climate. But sometimes, it isn’t made clear how individual people’s finances can be, nor the impact that these individual circumstances has on the deals that will be available to them.
This is where working with a qualified, regulated financial adviser comes into play. They are able to look at your financial history, current circumstances and help you make a plan for your finances.
There are many facets to financial advice from mortgages to pensions & investments. Here at White Mortgages, we are able to offer independent, regulated financial advice about mortgages and insurances.
Having been in the industry for well over a decade (with our compliance manager having worked the last 40 years within financial services), our advisers have seen the ups and downs of the UK economy. This wealth of knowledge directly benefits you, in that you can be sure that they will be doing everything in their power to support you over whatever the financial landscape brings over the coming months & years.
So why choose to take advice from someone who may charge you for their service, rather than use free financial services?
Well, let’s start with sites like Money Supermarket. These sites provide comparisons between different financial products, like insurances or mortgages, providing you with enough information about the selection of lenders they work with to, hopefully, help you make an informed decision yourself when you choose one of their options.
Then let’s consider the route of researching your options yourself with the help of some good old Googling. For lots of people - this is just what they do and it has worked well over many years. They believe that their lender has got a good deal for them when they come to the end of their fixed rate deal & just stick with what they know. Failing that, they go to another high street lender with a marginally lower rate of interest. Since 2009 until mid-2022, this hasn’t been much of an issue as interest rates have been relatively low and steady as the Bank of England Base Rate has hovered around the 0.5% mark.
The key point here is that neither of the two options see you receiving advice from an individual who is registered with the Financial Conduct Authority, and accountable for any recommendation they make. However, you have the option of paying a relatively small fee with us. In return:
We use the latest technology to search the breadth of the mortgage market to see which deal is the best fit for you. We have no geographic restriction to our search - sometimes an obscure and remote regional Building Society might just have the best option for you. We consider a variety of lenders to see who your case fits best with, before recommending the most cost-effective mortgage deal specifically for you.
Once we’ve found the most suitable lender, there’s often a lot of behind the scenes back and forth, ensuring that the underwriter has all the information that they need to offer your case. The admin team then support you through the associated paperwork of setting up your new mortgage, doing as much of it for you as we can, whether this is through the free legal services appointed by your new lender or your chosen solicitor. If you’re not dealing with conveyancing solicitors on a regular basis, the terminology & procedures can feel, as one client recently said, like “smoke and mirrors”. We can help make sense of that for you.
When things are a little uncertain economically, half a percent of interest here and a few pounds there can really add up. Our advisers are dedicated to working with a range of lenders, typically in excess of 100 at any given time, both mainstream and specialist, to source the most competitive deal for you. They are also committed to keeping an eye on the market for emerging trends, such as rate rises. Last year, ahead of the now infamous mini budget, we started securing remortgage offers six months early for clients, whilst committing to our clients to re-check deals before legal completion, should Lenders reduce their interest rates. By doing this, we saved one client £3,000 over two years, simply by being proactive.*
Whilst the team are working on your mortgage, we also have a dedicated insurance adviser who reviews your current mortgage related protection policies. Ensuring that you are adequately insured and, where at all possible & practical, reducing your monthly premiums.
So, even though we can’t stop costs from rising, we can search across the market to find the most economical solutions for your mortgage and insurances. As another client recently said, “The Whites team can see shapes and colours; the rest of us just see a bunch of numbers.” So, why not trust us with your next mortgage?
*This is a single example and mortgage deals are always subject to the lender’s terms & conditions for repricing. Accurate as of 09/02/2023