To Save you money
A mortgage broker has access to the whole of the market when it comes to mortgage products, some of which may not be available to the public. Many people think that just because they have been banking with a specific bank their whole life that means they will get the best rate from them. Unfortunately, that is not true. Banks have set rates for their mortgage products whether you have been banking with them for years or are a new customer. In most circumstances there are other lenders out there who will offer much better products at a much cheaper rate that you bank is lending at and that is where a mortgage adviser can search the market for you and save you thousands on monthly payments and fees you may have spent going for the first mortgage you have found. We offer mortgages from the whole market including second charge loans, but not deals only available direct through a lender.
To Save you time
You probably have a job, a family, housework to do, friends to see and events to go to amongst many other things that you need to juggle daily. Applying for a mortgage is not something that you can do in a free 10 minutes during your day. Meeting with a mortgage adviser can mean you will be prepped for all the documentation you are going to need to provide to the mortgage lender, and in one or two set appointments they can gather all the other information form you that they will need to a full search of the mortgage market on your behalf. These days there are just so many mortgage products out there, without a thorough knowledge of the market, you could spend days trying to search for the right mortgage scheme for you, be that the cheapest or one that fits other criteria you may have.
Understand lenders criteria.
These days mortgages are not just for people who have a perfect credit score and are buying a completely standard property. There are plenty of lenders out there that will provide you with a mortgage even if there is something unusual about your situation. Mortgage advisers have whole of market knowledge about which lenders will and will not accept certain cases which can help you get the property of your dreams even if other lenders would not provide you with a mortgage. Common problems people have when trying to get a mortgage are previous credit issue, self-build mortgages, non-standard construction, irregular income, and benefit income amongst many others.
If you were to go to a bank, they are only going to talk to you about their products regardless of whether their products are the cheapest on the market or the most suitable to you. Using an independent mortgage adviser means that because they are not tied to any specific bank or mortgage lender, they can offer advice on the whole of the market and find the product that is right for you.
More than just an adviser
Using a mortgage adviser will get you advice on more than just the mortgage product. There is much more to buying a property than just getting a mortgage in place and a mortgage adviser can guide you on what to look for or maybe make recommendations on conveyancers to deal with the legal work, provide you with quotes on high quality home insurance, talk you through and quote you on the different types of life insurance and income protection, recommend who to speak to when you need to make a will and much more. When you find yourself a mortgage adviser you will normally find you will have a mortgage adviser for life, any financial queries you have you can always go back to them for their expert knowledge. If they cannot deal with it themselves for you, they likely know the right person they can recommend you to that can.