Dependent and independent mortgage advisors

In the context of mortgage advisors in the Netherlands, the key difference between dependent and independent mortgage advisors lies in their working relationships and the range of mortgage products they can offer. Both types of mortgage advisors will be described in detail.

Mortgage Advisors

Both advisors empathize with your situation, discuss your needs and determine with you what is needed in your situation. The difference between the two types of advisors is the choice of products and services.

Independent mortgage advisors work independently and are not tied to their own products and services. The question is whether this is actually the best mortgage and solution for you. Independent advisors can draw from all the products and services of the providers they work with. In the large range of offers, they always look for the solution that best suits your needs and capabilities, different types of mortgage advisors.

Dependent Mortgage Advisors

Dependent mortgage advisors work for a specific mortgage provider or a limited number of providers. They have an exclusive arrangement or an employment contract with these providers. Their primary role is to offer mortgage advice and facilitate the mortgage products with the products offered by their affiliated providers. Dependent advisors can typically offer mortgages only from the specific provider(s) they work for, which may limit the range of options available to borrowers.

Independent Mortgage Advisors

Independent mortgage advisors, on the other hand, are not tied to any specific mortgage provider. They work on behalf of their clients and have access to a wide range of mortgage products and lenders in the market. Independent advisors have the flexibility to compare and recommend mortgages from multiple providers based on the borrower's specific needs and circumstances. They provide unbiased advice and aim to find the most suitable mortgage options available in the market, considering factors such as interest rates, terms, conditions, and eligibility criteria.

Differences between independent and dependent advisors

Independent and dependent mortgage advisors may vary in their advisory keys. For example, the type of advice, convenience, familiarity, and transparency. Here we will describe these differences between the two types of mortgage advisors.

High advisory fees or low advisory fees

There is a difference in the advisory fees charged by both types of advisors. In fact, the independent advisor often charges a higher amount than the dependent advisor. This is often around € 2,500 to € 1,500. At first glance, a considerable difference, as you spend €1000 more for your advice. However, independent mortgage advice can save you more than just costs.

We recommend that, in most cases at least, you do not do so on the advice side. In fact, paying extra advisory fees can save you both thousands of euros and give you a mortgage that better suits your personal situation and needs. We explain it on this page.

Selling or advising

The dependent mortgage advisor works for a bank, and a bank has its own mortgages. As a result, the bank's mortgage advisor includes their own bank's mortgage offerings. The advisor may discuss other bank offerings, but in practice, there are 50+ mortgage lenders in the Netherlands offering a wide range of mortgages. However, the dependent advisor is focused on selling the mortgage of their own bank.

The independent mortgage advisor does not have the problem of the dependent advisor. They can impartially advise on the best mortgage for the customer, which means they are not tied to a specific bank or mortgage product. They look at the customer's personal wishes better and the certain possibilities of the customer. In short, the dependent mortgage advisor cannot give good advice.

Convenience, familiarity and trust or unfamiliarity

As described in the beginning of the article, 90% of people look for a mortgage go to their own bank. And that is not illogical, because with your home bank, you feel familiar with the service. You have probably been banking with them for years and are satisfied with the service. You have probably already taken out other products such as savings, insurances, and other financial services.