If you are stepping onto the property ladder for the first time or are a regular re-mortgager looking for better rates and deals, then you will be choosing whether to go it alone to find the finance or get a mortgage broker to do it for you. There are lots of reasons to use a mortgage broker rather than go it alone and here are the top reasons:
Financial Knowledge
There is no way that you will have the time or energy to research all the different possible options for next mortgage deal, this is what a mortgage broker does all day. They know each of the different types of mortgages available and can match the best types to your individual circumstances. Everybody has different financial requirements when it comes to large purchases like getting a mortgage for a home and mortgage brokers are trained to make the link between your circumstances and the right mortgage provider and right deal for you.
A Duty of Care to You
When giving their professional advice on which finance product you should take out for your mortgage, mortgage advisors have a duty of care to you. They must recommend a mortgage which is suitable for your situation and give justifiable reasons why they are suggesting one mortgage product over another. If they give incorrect advice you can complain and could be compensated if they have not done their job properly. This is an extra layer of confidence for you that you are getting great advice from your mortgage broker.
A Time Saver
Mortgage advisors save you time as they are the researcher to find you the best product and they will give you the options they have found, at a busy time when you are trying to arrange moving home this is a valuable asset. They also save you time by liaising with the lender on your behalf and sorting through the documents and information you need to provide so it can be presented to the lender in the correct format.
A Mortgage Broker is on your side
If you go directly to a lender (a bank, building society or other mortgage product provider) then they are looking at you from the lenders point of view and if there is a better deal somewhere else they won’t (obviously) mention it. A mortgage broker looks through all the options and finds a product that is right for you. If through the process you have questions or concerns about the mortgage then your mortgage advisor can give you answers you understand without any jargon and from your point of view with your interests in mind, not the lenders.
Mortgage Brokers save, time, money & stress
Buying a house can be a very busy and stressful time and a mortgage broker can make offer you the knowledge that you have the mortgage product that is right for you, so you don’t have to spend hours looking through the many, many different mortgage products online or in branches. They are also the link between you and the lender, so they can chase questions and progress for you and tell you what documents are required and when.
The team at Rosebank Mortgage Brokers are there to find you the best deals on your home finance, give great advice and take the worry away from you while you concentrate on moving home.