Why seek independent mortgage advice?
Independent mortgage advice is what you receive from an independent mortgage broker, but what actually is ‘independent mortgage advice’?
Let’s break it down into it’s three component parts to see.
A mortgage is a legal agreement by which a bank or building society lends money in exchange for interest. The lender holds the tile of the lenders property via a ‘mortgage’.
The condition is that the mortgage becomes void on the repayment of the debt and the title (ownership) reverts to the borrower in full.
If you are buying a property but don’t have the full funds to pay cash, a loan via a mortgage is what you need.
‘Advice’ is a word built from two others.
The first part of ‘advice’ comes from the old French avis, which was based on the Latin word ad, meaning ‘to’. This was used with the Latin ’visum’ meaning ‘to see’.
The original sense of the word ‘advice’ was ‘a judgement’, or ‘way of looking at something’, and later became ‘giving an opinion’.
Therefore, if you want an opinion on your mortgage, ‘mortgage advice’ seems a good place to start.
Independent has a number of meanings:
- free from outside control
- capable of acting for oneself
- not depending on something else for strength or weakness
Clearly, whilst you can get mortgage advice in a bank, that advice is not ‘free of outside control’, as, by definition, bank advice is controlled by the bank.
An independent mortgage broker will be free from control, acting without interference, and not relying on a single bank or building society.
Independent Mortgage Advice
If you seek a loan to buy a property, would like an opinion on how to do it, and want that opinion to be free of outside interference, then independent mortgage advice is what you need.
This is the service provided by A Mortgage Now.