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Embarking on a home buying journey or considering a remortgage? 

A mortgage advisor could be your trusty compass to help you find your way. 

But the questions are when do you pay a mortgage advisor, and how much will it cost?

Let us clear up the fog around these costs and show you why it's worth investing in a mortgage advisor.

What's in the Job Description of a Mortgage Advisor?

Before we break down the costs, let's explore what a mortgage advisor actually does. Simply put, a mortgage advisor is your personal financial guide in the mortgage market. 

They're licensed professionals who hunt down the best mortgage deals for you based on your individual financial circumstances. 

Having access to a broad spectrum of lenders and mortgage products, they're capable of offering tailored advice that best suits your needs.

Why Bother with a Mortgage Advisor?

They're Pros - Mortgage advisors are pros who've got their fingers on the pulse of the mortgage market. They're always in the know about the latest trends, interest rates, and requirements of lenders. Their expertise helps them dig out the best mortgage options for you.

Tailored Advice - A mortgage advisor evaluates your finances, your credit history, and your homeownership aspirations to offer personalised advice. This ensures that the mortgage you choose is in line with your budget and future plans.

Wide Network - Mortgage advisors aren't tied to a single bank; they have access to a myriad of lenders, including some that aren't directly accessible to the public. This means a wider pool of options and a better chance of landing a sweet mortgage deal.

Time-Savers - Hunting for mortgages can be a real drain on your time and energy. Mortgage advisors do the heavy lifting for you, presenting you with the best options suited to your needs.

Ace Negotiators - Mortgage advisors are seasoned negotiators. Their knack for negotiation could help you lock in a better interest rate and mortgage terms.

So, When Do I Pay?

How a mortgage advisor charges for their service can vary. Generally, they use one of three methods:

Flat Fee

Some advisors charge a flat fee for their services, irrespective of the mortgage product you opt for. This fee could be due upfront or after their service is complete.


A good number of mortgage advisors get their payment from the lender once your mortgage is approved. In this case, you typically don't pay the advisor directly.

Mixed Model

Some advisors take a flat fee and a commission from the lender. This model keeps the advisor's compensation transparent.

Here at RM Financial, we're all about clarity and making sure you know what costs to expect. We operate on a commission-based model, meaning that we get paid by the lender once your mortgage gets the green light. This approach lets us zero in on the best mortgage deal for you without adding extra financial pressure.

Why It's Worth It

Yes. There may be costs associated with employing a mortgage advisor, but it is essential to recognize the value they provide. A competent advisor may save you a substantial amount of money by negotiating a reduced interest rate and favourable terms. They can also guide you through the mortgage application process, making it simpler and reducing the likelihood that you will make costly mistakes.

For self-employed individuals wondering how they can get a mortgage, it's crucial to consider certain factors when selecting a mortgage advisor. Ensure you assess their credentials, expertise, and track record carefully. Opt for advisors regulated by reputable organisations and backed by positive reviews from past clients. Keep in mind that a professional mortgage advisor always prioritises your best interests and works diligently to find the most suitable mortgage solution for you as a self-employed individual.

Wrapping Up

Navigating the mortgage maze can be easier with an expert by your side. While you might wonder, when do you pay a mortgage advisor, consider this - the costs can vary, but the potential savings and insightful guidance they provide can be invaluable.

Experienced mortgage consultants on staff at RM Financial are committed to providing excellent service and locating customised mortgage options for each client. 

If you have any queries about how we can assist you, please visit our website or call us. Let's take on the challenge of becoming homeowners as a team! Let's conquer your homeownership dreams together!

Information was accurate at time of publication.
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