‘Mortgage broker’ is so yesterday
These days, the term ‘mortgage broker’ is falling out of use and being replaced with ‘mortgage adviser’. This is because when it comes to financial transactions, a broker is understood to be someone who receives, deposits or holds money or property on their customer’s behalf - meaning they ‘touch’ the money in some way. Think of a stockbroker, for example.
This doesn’t typically happen when you’re just in the market for a mortgage. During the mortgage process, the finances are usually handled between the lender and your lawyer.
#adviseme
When looking for a great deal on a mortgage, you simply want an expert intermediary to help find the best deal for your situation, so a much better term for this job description is a ‘mortgage adviser’.
Mortgage advisers are paid a commission from mortgage lenders to find customers, and they’re duty-bound to ensure that as the customer, you get the best deal possible.
All mortgage advisers are also financial advisers, meaning they’ve undergone extensive training to be able to give a very high standard of financial assistance to their customers.
Glad that’s cleared up!
Whether you’re itching to get into your first home, adding to your property portfolio or it’s time to refix your existing mortgage, chat to your local MTF Mortgage adviser today.
