The value of a mortgage adviser can be more to do with a road map and navigation than the mortgage itself. Why do more and more clients gravitate toward decent advisers?
The path forward
Many of our clients appreciate being able to sit down and weigh up options. It can be handy to consider each option and the opportunity cost when thinking about the best way forward. For someone with a property or two already this can be mean taking an objective view, without emotion. For example many clients forget that the home they live in, might not make a good investment, in terms of the rental yield. At times trying to time the market can also lead to unnecessary risk.
A clear path forward can mean sound decisions with an understanding of the pros and cons.
Fast forward
Being in the thick of it, sometimes advisers act as a great sounding board. A good adviser can give you a feeling of the pulse in the market. Maybe that might mean a reality check in terms of budget, sometimes it might mean some insights into the buy and sell prices. Often we lean on other experts to re confirm our feelings as our actual scope and expertise lies with mortgages. But many clients actually value our general advice. I think many advisers(and bankers) will attest to making the public aware of certain red flags – such as certain problem claddings, plasters homes built between certain years.
Smart structure
Even existing home owners tend to forget or be unaware of the benefits of certain home loan products. Like for example saving interest by using an offset or revolving credit home loan. Almost negligible when interest rates are 3% but amazing when interest rates are 6%. Also managing the interest rates over the long term takes getting an understanding of risk and hedging. It always nice to have another set of eyes looking at things from your point of view.
