Retire Early Retire Wealthy by Roly Weaver

Author:Roly Weaver
Language: eng
Format: epub
ISBN: 9781908746764
Publisher: Panoma Press
Published: 2013-04-03T00:00:00+00:00

The Independent Financial Advisor

Once you have decided that investing in property maybe suitable for you, then the first person you need to see is an Independent Financial Advisor (IFA).

Their role: to assess your current financial position and provide financial advice. Specifically they will inform you whether you can obtain a buy-to-let mortgage and if yes, tell you what your mortgage loan options are.

Finding an Independent Financial Advisor

When I was looking for my first property I did my own homework and had analysed the market options for buy-to-let mortgages. As I was visiting estate agents, I was invited to talk to their Financial / Mortgage Advisors. I was very disappointed, because the first 5 or 6 of them offered me buy-to-let products that did not seem to be better than the one I had found myself. Looking back, I don’t think they really understood the buy-to-rent market.

They were simply offering me products from their company range.

After a few days, I met an IFA who was different to the rest. He found out about me and my financial circumstances and then used a computer system to identify what buy-to-let mortgage products were available to me. He told me what my various options were and provided advice and guidance and identified my preferences. After a short while, his computer system generated a list of products in order of my preference – and I was extremely amazed to see the product that I had found myself, at the top of his list!

It was now worth my while allowing him to apply for the mortgage on my behalf. I went back to him for my second property: he beat me that time; and I have trusted his company ever since. Nevertheless, I still test the market from time to time.

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