Comparing mortgage advisors

Which mortgage advisor suits you best depends on several factors. In this article, you will read 9 valuable tips for comparing mortgage advisors, helping you find the best professional within a few steps. 

Go directly to a specific tip: 

• Tip 1: Choose a Recognized Financial Advisor
• Tip 2: Choose a mortgage advisor who works with many providers
• Tip 3: Compare the costs of mortgage advisors with each other
• Tip 4: Use the comparison chart to objectively compare advisors
• Tip 5: Choose an advisor with a specialty if necessary
• Tip 6: Plan multiple orientation meetings so you can compare well
• Tip 7: Compare the speed of the application process
• Tip 8: Check reviews of different mortgage advisors
• Tip 9: Ask about the advisor's network

Tip 1: Choose a Recognized Financial Advisor

There is a lot involved in buying a house. To properly assess your financial situation and receive the best mortgage advice, the right expertise is needed. If you choose a Recognized Financial Advisor, you know that this is in order. They have the necessary education and diplomas to assess (the complexity of) your financial situation and help you find the best mortgage. Also, if you buy a house without a mortgage, a financial advisor can assist you with your financial situation.

They take into account various factors, such as your income, expenses, risk tolerance, and future plans. Moreover, Recognized Financial Advisors adhere to ethical and professional standards. They will always prioritize your interests and provide you with objective advice. They are required to keep their professional knowledge up to date through regular training and education.

Tip 2: Choose a mortgage advisor who works with many providers

Before you start looking for the right mortgage advisor, it is good to know that there are different 'types' of mortgage advisors. For example, there are advisors who: 

• are tied to one provider (think of mortgage advice at a bank)
• work with a number of providers 
• work with virtually all providers (independent mortgage advisors)
• only give advice without closing products (e.g., an independent financial planner)

Our advice is to always choose an independent mortgage advisor. These advisors do not have exclusive partnerships with specific mortgage providers, allowing them to compare mortgage products from different providers. This increases the chances of finding a mortgage that not only suits your situation best but is also advantageous (for example, with the best mortgage interest rate).

Independent mortgage advisors do not only look at the lowest interest rates but also at other important aspects, such as conditions, flexibility, and service quality. 

Check the number of providers in the service document (DVD)

To determine whether an advisor works with multiple providers and is therefore independent, you can consult the service document (DVD). This document not only provides insight into the number of mortgage providers but also into the working method, activities, and costs. It helps you to compare advisors and choose the best one.

Tip 3: Compare the costs of mortgage advisors with each other

Of course, the costs of the mortgage advisor are also an important consideration when finding the best advisor. The costs between advisors can vary significantly. With advice from the bank, the costs are lower, but - as we mentioned in Tip 2 - the bank limits itself to offering its own mortgage products. As a result, you may exclude better and more advantageous options.

Independent advisors compare the mortgage offerings of different providers. This takes more time, resulting in higher costs. But beware: the difference in advisory costs usually easily outweighs the benefit you get back in the mortgage rate. That is why we always advise working with an independent advisor. 

Read more about the costs of a mortgage advisor

The costs of mortgage advice

Hourly rate? Have services recorded in writing

Many advisors work with a fixed amount for their services. Others work with an hourly rate. If you choose an advisor with an hourly rate, it is important to have it recorded in writing which services are provided and how many hours this involves. This is to avoid unpleasant surprises afterwards.

What about the 'aftercare' after closing a mortgage?

Good advice does not stop after the mortgage has been closed. Situations may arise in your personal (financial) situation, leading to additional questions. Or that require adjustments in your financial planning. It is nice if your mortgage advisor is there for you, without charging additional costs. Or at least if you know in advance what these costs involve. 

Therefore, always check in advance what aftercare an advisor offers and whether additional costs are charged. With some advisors, aftercare is included, while others provide aftercare at a fixed rate or an hourly rate. 

Discover more about mortgages

Mortgage: everything you need to consider when buying and selling your home

The costs of a mortgage

Mortgage interest

Mortgage conversation

Buying a house with a mortgage and student debt

Buying a house: how do you do that?

Higher mortgage loan in 2024 for former students, singles, and energy-efficient houses

Tip 4: Use the comparison chart to objectively compare mortgage advisors

To objectively compare advisors, it is useful to refer to the comparison chart. You can find this on the mortgage advisor's website. This chart provides an overview of the services offered, including the working method, costs, and degree of independence of the advice. Just like the service document, the comparison chart is an initiative to offer more transparency in the services of financial advisors.

The handy thing about the comparison chart is that it contains standardized information about important features of the service. The purpose of the comparison chart is to make it easier to compare the offerings of advisors, allowing consumers to make an informed decision that suits their needs and financial situation.

Can't find the comparison chart? Then ask for it, as this chart must be mentioned on the mortgage advisor's website.

Tip 5: Choose an advisor with a specialty if necessary

Although a Recognized Financial Advisor in the Netherlands must meet strict educational requirements and can provide excellent advice in most cases, it can be useful in specific situations to enlist a specialist. In other words, a mortgage advisor who has experience with your situation.

For example, it can be helpful for entrepreneurs to find an advisor familiar with mortgages for self-employed individuals. If you want to buy a property abroad, look for an advisor experienced with cross-border mortgage constructions and tax rules. And if you are in the midst of a divorce, it is wise to check if the advisor has experience with mortgage processes after a divorce.

Read more about what to do with your house during a divorce.

Comprehensive financial plan

If you need a comprehensive financial plan, you can choose a certified financial planner, for example. Not all certified financial planners are authorized to close mortgage products. Some financial planners, therefore, collaborate with advisors who have the necessary licenses to close mortgage products. 

Tip 6: Plan multiple orientation meetings so you can compare well

It is wise to request multiple orientation meetings with different mortgage advisors. These meetings are usually free and non-binding, so feel free to schedule multiple appointments. During the orientation meeting, you gain a better understanding of what is involved in closing a mortgage and your financial possibilities are discussed. Moreover, it offers the chance to determine if there is a click with the advisor, gain insight into the costs, and ask all your questions.

Read more about the different types of mortgage conversations that exist and what you can expect.

Fixed contact person

Having a good click with your advisor is important, especially because you will be working closely together in the coming time. It is pleasant to have a fixed contact person with whom you can communicate directly. The mortgage process can be complex and hectic, so quick communication is crucial.

Therefore, always check whether your advisor remains your fixed contact person throughout the process. At some banks and mortgage advisory offices, this is not the case, which may result in dealing with other employees who are not fully informed about your situation. This can lead to unnecessary delays.

Request a free orientation meeting

If you want to schedule an orientation meeting with an independent mortgage advisor, you can contact various advisory chains. An appointment for an orientation meeting is easy to make via their website or by phone. You can also arrange a free appointment with an independent mortgage advisor through Mijn Verkoopmakelaar. Below you can read more about that.

Tip 7: Compare the speed of the application process

The duration of the mortgage application process can vary greatly between different advisors. In general, the application process can take several days to several weeks. It depends on various factors, such as the efficiency of the mortgage advisor, the collaboration with lenders, and the complexity of your financial situation.

Some advisors, for example, have faster processing times because they have good agreements with lenders about the assessment of complete files. This can be useful if you want to make an offer without a financing condition. The complete mortgage application is then processed so quickly that you can still withdraw from the purchase during the cooling-off period if you cannot secure the financing. Read here the 7 best tips for increasing the chance of an accepted offer.

It is important to discuss the speed of the application process during the orientation meeting with the mortgage advisors. If the speed of the process is a crucial factor for you, it is important to know if one advisor is significantly faster than the other. This can be a decisive factor in making your final choice for the best advisor.

Tip 8: Check reviews of different mortgage advisors

To get an impression of the mortgage advisor in advance, it is wise to read online reviews. Websites like advieskeuze.nl and Google Reviews often provide valuable feedback from clients. Also take the time to read critical reviews and the advisors' responses. This often provides good insights.

Do you not have a specific advisor in mind yet? Then ask friends, family, or colleagues about their experiences with mortgage advisors. They can provide you with valuable insights into their personal experiences and tell you which advisors they were satisfied with. The advantage of this is that you get an honest and trusted opinion from people you know and can rely on.

Tip 9: Ask about the advisor's network

Besides a mortgage advisor, you will need many more professionals for buying a house. Think of a real estate agent, a valuer, and perhaps also a structural advisor. For a smooth purchase process, these experts prefer to work well together.

Therefore, it can be useful if your advisor has an extensive network of reliable specialists with whom he has worked more often. If professionals know each other, this ensures a smooth purchase process. And hopefully also for attractive rates!

Read more about buying a house:

Buying a house with your parents (5 ways)

All costs when buying a house

All about Buyer costs (k.k.)

Bidding on a house: how does it work?

7 tips to increase the chance of an accepted offer