Are you getting the right advice from your bank?

As a mortgage broker, I expect most of my new customers will have spoken with their bank as their first port of call. It’s great to shop around but unfortunately, I regularly find that the information provided to customers by their bank is either not entirely correct or has not taken into account their full personal circumstances.

Before taking out a loan or pre-approval, some key questions you need to be asking are:

• How much deposit do I need?
• Will mortgage insurance be applicable? If so, exactly how much is it and what percentage of that can be added onto the loan?
• What other costs are associated with a purchase? For example, government fees, stamp duty, solicitor’s fees, etc.
• Do I have enough cash to cover both the required bank deposit AND associated costs?
• Is the product they are offering really right for me?

If you are looking for accurate, efficient advice, with your needs in mind, or just want to discuss what your bank has offered, I would love to help. 

*Names changed due to privacy legislation