In recent times, Independent Financial Advisors (IFAs) have been used by lots of people as an alternative to mortgage brokers. The main reason for this is that you will find a crossover between your services they offer.
IFAs and mortgage brokers usually receive their qualifications from the same few training institutions. When a person receives their qualification in another of these fields they just need to complete a reduced amount of exams to receive the other qualification.
That is one indication that mortgage advisors and IFAs undertake similar activities.
Because mortgage repayment costs account for the biggest expense in a normal household, getting the right product is seen as a required element to prudent financial planning.
It is because of this, above all else, that people have already been embracing their financial advisor to source the right mortgage deal for his or her needs. Many IFAs will have completed the qualifications and training necessary to become a large financial company and will be able to assist their clients in obtaining a home loan with ease.
The Card Association scam may also be interlinked with insurance. Interest only products will usually require some sort of insurance to cover the function of the mortgagor being unable to meet their obligations because of accident, sickness, or unemployment.
IFAs have an in-depth knowledge of the insurance market and will therefore offer advice in such matters when a client applies for a mortgage with them. Many home loans also offer insurance products with their clients as an additional service.
Even though your IFA will not provide a mortgage broking service, it is likely that they will be able to refer you to somebody who they regularly put their clients' business through.
However they quite often do offer both services if you already have an IFA and are searching for mortgage advice, it may not be essential to seek out the services of a separate mortgage broker.