Many of the public has yet to know that there’s a group of Mortgage Advisers who work independently from bank to advise and assist client on mortgage loan application for property financing/refinancing.
Instead of being attached to a particular bank, mortgage advisor work independently and normally attached to some firms with license from certain banks as their sales representative. Mortgage advisor would then working as associates with the firm after meeting training and certain certification requirement as set by the bank.
As mortgage advisor, at most of the time, will assist client to do application to more than one bank to increase the chances of approval and for comparison of better offer from different banks since at this moment, there’s no processing charges for mortgage loan application. Also at this moment, there’s no charges to client from Mortgage Advisor but Mortgage Advisor earned the referral fees from whichever bank that secure the client.
When you should see a Mortgage Advisor?
- Whenever you need to apply for a property financing and do not have much time to see different salesperson from different banks.
- When you want to find out the loan eligibility before you search for the right property.
- When you need advice about restructuring of loan and find out more about existing property loan.
- When you need an unbiased advice regarding property loan. – “There’s no best product, but there’s product that best suit you”
When you should go to bank instead of Mortgage Advisor?
- Mortgage advisor needs full documents and cooperation from client to understand the client’s situation, needs and suitable package/banks. If client is unwilling to disclose or provide income documents, client should opt to visit the bank personally and preferably the existing bank that the client is maintaining the account as most of the information is readily available to them. However, this will limit the client to accept whatever offer made by that specific bank.
- Most of the Mortgage Advisor only representing certain bank/financial institution. If client has specific preference on a bank that is not represented by the Mortgage Advisor.
If you are interested to join us as Mortgage Advisor, kindly email you resume to: career@ethanteh.com