With more and more Mortgage Firms claiming their ‘robo-adviser’ model will speed up and simplify the current mortgage process we ask whether that is actually true.

Robo-advisors have become increasingly popular in recent years, as they offer a quick and efficient way for individuals to invest their money without the need for human interaction.

However, when it comes to the complex and nuanced world of mortgages, the limitations of robo-advice become clear in our opinion.

A mortgage is one of the most significant financial decisions that a person can make, and it requires a deep understanding of the individual’s financial situation, as well as the broader economic climate.

A human mortgage adviser is able to take into account a wide range of factors such as credit score, income, and employment history, and offer personalised advice based on that information.

In contrast, a robo-adviser can only make decisions based on the information it has been programmed to consider and the algorithms it uses to make decisions, which may not be as comprehensive or accurate as the advice provided by a human adviser.

Additionally, a human mortgage adviser is able to provide emotional support and guidance during what can be a stressful and overwhelming process.

They can answer questions, calm nerves and provide reassurance which is a valuable service for many people. Robo-advisers, on the other hand, are not able to provide that level of emotional support and personal touch.

In summary, while robo-advice has its place in the financial world, it is our belief that it is not well-suited to the complex and nuanced field of mortgages.

The individual skills, experience, and knowledge of a human mortgage adviser are essential for providing accurate and personalised advice, as well as emotional support and guidance during the mortgage process.

Many clients have praised our human touch in securing them a mortgage when they felt they would never be able to as they thought they ‘didn’t fit the mould’ for a mortgage lender.

Contact one of our experts if you feel you prefer a human to help in your possibly complex mortgage search.

Why you should use the services of a mortgage broker.

Risk Warning: The Financial Conduct Authority does not regulate some forms of Buy to Lets. Your home/property may be repossessed if you do not keep up repayments on your mortgage.