Whether you’re applying for a mortgage for the very first time or you need to remortgage, there’s plenty to think about and prepare for. A mortgage broker can take all of the stress and hassle associated with getting a mortgage out of your hands, so it’s well worth seeking their advice.
Why use a mortgage adviser?
Mortgage brokers - also known as mortgage advisers - have access to thousands of deals, many of which may not be available on the high street. They can tailor your application according to your financial circumstances, making sure that the mortgage products they source for you are tailored directly to your individual needs. This means that you’re less likely to be turned down by the mortgage lender, and you could potentially save money on your monthly repayments.
1. Navigating the complexities
If your financial needs are slightly more complex, speaking to a mortgage adviser could be extremely beneficial. They have access to a range of specialist lenders who are used to dealing with applications of this nature, and are more likely to approve you as a result.
Special circumstances may include self-employment, a history of bad credit, or extenuating circumstances that would otherwise make your application more complex.
2. Need a helping hand?
Mortgage advisers can offer bespoke guidance on all elements of your mortgage application, from working out how much you can borrow, through to discussing which protection insurance could be beneficial to you. This doesn't have to end with the filing of your application either.
An adviser can answer any questions or worries you may have about the home buying process in general, and keep in contact with other third parties, such as surveyors, solicitors, and estate agents.
3. We'll work around you
We know how busy life can get. Whether it's work, appointments, or managing the school run, the day-to-day grind can be a lot. A mortgage adviser will accommodate your needs by offering flexible appointment times that work with your schedule - including evenings and weekends.
Everything can be taken care of over the phone, email or face-to-face, so your application and all of the paperwork associated with it can keep on ticking over while you take care of everything else.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.