A Mortgage Broker or a High Street Lender?
Is it better to get a mortgage from a bank or a Mortgage Broker.
There are literally hundreds of mortgage products offered from hundreds of mortgage providers. Lots of people feel overwhelmed by the task of looking for the best deal. In reality, we reckon that individuals will spend more time choosing which mortgage to make use of, than which house they wish to buy! That is unless you use a broker such as us who will do all the leg work for you.
Using a Mortgage broker – particularly an independent “Whole of Market” mortgage broker means that you will have access to all the mortgages on the market which are available to mortgage brokers.
We can quickly and specifically examine your best mortgage options. We are careful to check all the finer detail which makes sure that an offer that looks good, actually is great, as all too often, if an offer looks too good to be real, it generally is. Not always though– and we are here to discover them for you.
Using a “whole of market” mortgage broker
Organising a mortgage can be one of the most amazing however challenging jobs that you need to do. There seems to be another language of acronyms and an entire range of traps waiting to snare the innocent buyer as they seek to organize a mortgage to finance their dream home. Frequently, when arranging a mortgage, you can get carried away with the home that you have actually seen and frantically wish to purchase, and it has actually been known for buyers to get sidetracked with the home and sign up for an offer that, in reconsideration, most likely wasn’t the best one for them.
For this reason mortgage brokers are an excellent place to start. As whole of market brokers, we are a great example of how having a mortgage broker who knows the market can work for you: this means that we can access any offer across the UK mortgage market. As we deal daily with mortgages, we are up to date and in the loop with the best deals and any changes happening. We are unbiased and commonly have an array of contacts throughout various lenders, without any reward to ‘offer’ a certain one, and an interest in acting in the requirements of our clients.
Mortgage brokers are responsible for recommending a specific mortgage
As mortgage brokers, we have the task of caring for you and we have to justify why we have suggested a specific product or lender to you. By using a mortgage broker there is more accountability for you should things fail.
Mortgage brokers can make the most of good relationships with lenders
Mortgage Brokers, by virtue of dealing with lenders daily, have the tendency to develop professional relationships therefore can often ensure that they take full benefit of their finest offers and options. As we deal with lenders everyday we know who to get in touch with and how to get your application placed with no delay. Also understanding that the broker takes care of lenders daily suggests that they have their credibility to safeguard therefore you can be much more assured that they are going to act in an expert and truthful manner for you. It is this relationship, based upon regard and honesty, meanings that brokers can often get you the very best offer from lenders and so are a fantastic option.
Using a mortgage broker can save you the time
Not only can seeing various lenders be a hassle and time killer, it can likewise have a detrimental result on your credit rating if you approach different lenders. As credit is harder to get as a result of the financial difficulties that have developed over the past 5 years, it is not a good idea to be having numerous lenders perform various credit checks against your file as it could make loan providers suspicious and wary of providing to you in the future. Not to point out the tedium of completing many mortgage applications and credit scoring forms!
We are prepared to have a no-obligation assessment with customers. These initial meetings are free of charge and mean that you can decide exactly what it is that you require, without being pressed into a tough sell. For that reason, we recommend you give us a call today and see for yourself how easy we can make the purchase of your dream home!
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