Why use a mortgage broker?
Why use a
Mortgages are one of the biggest financial commitments most of us
will ever make, they are complicated and with thousands of products
available it can be hard to find the right option.
An experienced, professional mortgage broker will help you to get
the most suitable and competitive mortgage for your individual
circumstances. As well as managing the process to make it easier for
Mortgage brokers search for the right mortgage for you, as they are
not tied to a particular lender this is across the market from all the
lenders, they also have exclusive access to products which are not
available to the general public.
They will also offer personal advice tailored to your individual needs.
Brokers have to have professional qualifications to give mortgage
advice and are regulated by the Financial Conduct Authority.
Fee or fee
Lenders often pay brokers a percentage of the loan amount when
the mortgage completes, this essentially acts as a commission to
your broker for their service. Some brokers may also charge a fee for
giving advice or arranging the mortgage, costs can very so you
would need to check with your broker.
Brokers will take detailed information from your about your
circumstances and will know which mortgages you will be able to
access and depending on your circumstances which lenders are more
likely to accept your application.
This can help you prevent any breakdown in your property chain.
If you are self-employed, have a history or bad credit or other issues,
even those where you are not at fault, getting a mortgage may be
more complicated. This is where a good mortgage brokers experience
can help those excluded from the main street market.
Not only will your broker help find the right mortgage, they will also
complete the paperwork helping you to fill out the forms and
preparing your application so that it can progress first tim