How do I find a good mortgage advisor?

How do I find a good mortgage advisor?

How do I find a good mortgage advisor? If you are looking for a good mortgage advisor to secure a mortgage for your future home read this article. We try to explain how you can measure whether you are dealing with a good mortgage broker.

Sometimes people choose a mortgage advisor based on feel. If this works fine for you, fine of course. Of course, it is also a relationship of trust that you enter into with a mortgage advisor for a shorter or longer period of time.

 

Ratings and reviews

Trust arrives on foot and leaves on horseback is a well-known saying. A previous experience with a mortgage advisor hired by friends or family can be a good advisor. Also, reviews are increasingly available online on websites such as Advieskeuze where you can read reviews from previous clients of a mortgage office.

For example, would you like to read how previous clients speak about our firm : client experiences Cournot Adviseurs.

Of course, a review or reference does not have to be leading in your choice. Really dissatisfied clients will, however, report through such a comparison website so this can be an important filter.

 

Mortgage advice content

A good advisory firm invests a large part of its budget in training people and IT. This ensures high-quality financial advice and a broad view of your financial situation. A professional mortgage advisor will have an eye for your entire situation and not only answer your questions exclusively, but also ask critical questions and make suggestions himself. These then often benefit you and your wallet.

Professional firms also employ software and systems that ensure an efficient work process. Our office also has such systems and ensures that we digitally set up a client portal for you and you can submit documents digitally in a secure manner. In addition, we try to already prepare the underwriting at the office as well as possible so that the bank has few comments. After the mediation of your mortgage, this system also identifies possible savings for your mortgage.

Tip: Feel free to ask how a mortgage broker is organized and what the working method is.

 

Range of mortgage advisor

Research shows that you are cheaper with an advisor who can broker a wide range of lenders. There are also tied intermediaries, which are part of an insurer or bank, but do not show that directly on the facade. In this situation, the mortgage broker is bound to place as many clients as possible with the insurer that owns the office.

You may ask if the mortgage broker is a tied or unbound broker and can choose from multiple lenders. Selecting a mortgage directly from a bank can be pleasant. Only a comparative merit test is lacking since the bank’s mortgage broker can only recommend and broker the bank’s mortgage products.

Good to know is that Cournot Adviseurs is an unaffiliated broker and is not part of any bank or insurer. We can give neutral and honest advice on mortgages. For example, we work with national and international lenders.

 

Collaboration mortgage advisor

We mentioned in the introduction that you are entering into a relationship of trust. Also, when buying a house and taking out a mortgage, you enter into an intensive period of cooperation. In the first contacts, for example, pay attention to whether agreements are kept. Do you have to make inquiries each time, or are you informed in a timely manner and are possible problems identified by yourself?

For example, is it also possible to get a response outside office hours, and is there real consideration for your interests?

Also feel free to ask whether your mortgage advisor is and remains a permanent point of contact. At banks and large advisory organizations, it is common to have only a one-time contact with a mortgage advisor and then have to deal with changing and less qualified staff.

We always work in tandem. A permanent mortgage advisor with a permanent assistant. This way, everyone is maximally involved in your case.

 

The characteristics of a good mortgage advisor summarized

Planning to buy a house or transfer a mortgage? Then good mortgage advice is a necessity. Below we list the most important characteristics for you:

  1. Has professional diplomas – As a mortgage advisor, at least the legally required training courses Wft Basis, Wft Vermogen and Wft Hypothecair krediet. This is a requirement to be allowed to advise. Only after the 10,000-hour rule is a mortgage advisor poked and prodded.
  2. Independent – An independent mortgage advisor works with several banks, has a wide range and advises based on your needs. A mortgage broker directly from a bank has only a brochure rack and starts from the bank’s offerings.
  3. Good reputation – An experience by friends or family is always a good reference. For example, hundreds of customers give Cournot Advisors an average of 9.9 on Advieskeuze.nl and 5 stars on Google.
  4. Responds quickly – A good mortgage advisor and support is available to you during the application process. Especially since it involves a lot of emotions, it is nice to be able to respond quickly. Feel free to send us a message and see if you like the responsiveness!
  5. Doesn’t just look at interest rates – The lowest interest rate is not necessarily the best mortgage for you and educate you about the provider which will allow you to make a better assessment over the entire term whether the lowest interest rate is the best choice for you.
  6. Clear and honest – A good mortgage broker can explain the options available to you in a clear manner. During the conversation, a good mortgage broker should be able to give clear direction on the feasibility of your project.
  7. Customer-oriented acting – Good mortgage advisors listen to the wishes and personal situation of their clients. They don’t tell (only) what they think is important information, but rather listen and act accordingly.
  8. Thinks in solutions – A good mortgage advisor thinks with you and has a positive basic attitude.
  9. Ready knowledge – A good mortgage broker is up to date on the most current developments in mortgage regulations. Therefore, feel free to ask some in-depth questions that you expect the mortgage broker to be able to respond to without faltering.

 

Directing function

When buying a house or refinancing a mortgage, several parties are involved. For example :

  • A notary to register the mortgage and transfer the house;
  • The lender for lending the money;
  • Possibly an insurer for life or home insurance;
  • The appraiser who values the house;
  • Possibly a building inspector for a structural inspection;
  • A buying and selling broker to assist with the sale or purchase of a home.

All of these parties should work well together. You can expect a good mortgage broker to seamlessly tie the various parties together to ensure a smooth process.

The chain is only as strong as its weakest link. You should expect a good mortgage broker to be able to smooth things over, even if another party in the chain fails. This is of course annoying and actions by others in the chain cannot be blamed on your mortgage advisor, but you can lean on the directive function that a good mortgage advisor has.

 

Legislation

You should also check whether the mortgage broker is affiliated with relevant organisations and has the necessary licences. Important organisations are: the Authority for the Financial Markets (AFM), the Complaints Authority for Financial Services (KiFiD) and the Dutch Data Protection Authority (DPA). In addition, the advisor must be a recognised financial advisor (Erkend Financieel Adviseur). Naturally, Cournot Adviseurs is affiliated with all relevant organisations.

In addition, every financial service provider must make a service document available on its website. This is a standardised document that specifies what the adviser can do for you, how many lenders he can compare, what his fees are and how he organises his follow-up. It is also a handy tool for comparing different mortgage brokers.

Quanta costa

What does a good mortgage broker cost? Someone who provides professional mortgage advice including mediation will offer you a rate between €1,750 and €5,500. The cheapest rate will apply for a simple and straightforward case. You should imagine that a professional mortgage advisor invests many hours annually in keeping knowledge up to date and following continuing education.

In addition, investments in IT and mandatory regulatory contributions are hefty. Also, much of a mortgage advisor’s work is invisible. Much communication is required with bank or lender underwriters. Filing is an important part of the work. Extensive communication also needs to be conducted with you, the client, which adds up to dozens of hours for the proper creation and execution of a financial plan.

Also ask a mortgage broker what the fee includes. Does this include, for example, taking out life insurance or liaising with parties in the chain? It is really important to know what you need to do yourself and what the mortgage advisor does.

It is annoying if you expect to be unburdened and end up having to do a lot yourself, creating stressful situations. We try to provide our services in such a way that you have the least amount of stress. By the way, getting a mortgage and buying a house is a stressful activity.

 

Summary

Of course, we could write down that we meet the above criteria. We don’t. Rather, we challenge you to test that for yourself. In that case, feel free to invite us for an online introductory meeting, this first meeting is at our expense!

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