“I can just go to my bank and they will give me a mortgage?”
“Why would the banks give you a better rate when I can go direct to them?”
“I’ve been on a comparison site and I’m going to do it myself…”
Are just some of the comments I frequently hear from customers as a broker. So when I say to you the banks give us access to the same, if not better exclusive rates… Why would you not use a broker? People will always say moving, buying or remortgaging a house is one of the most stressful times in their lives. So why wouldn’t you want one professional and experienced person to turn to and take the stress away?
So…. Why use a broker?
Each bank you go to have their own set criteria that they adhere to. And if you or the property don’t fit, your out! (and you will most likely have waited weeks for an appointment and then to be told in a matter of minutes that they can’t help!)
Every lender we use (over 80 at the last count!) has their own values, limitations and appetite for certain areas of the mortgage market. Some want first time buyers with good credit, a saved deposit and no credit commitments. Where others find a gap in the industry by taking a risk on those who have fell behind on payments, or who has a family member that wants to help out or even those who aspire to build a property empire to rival (sir)Alan Sugar!
And that’s just the big banks that you will have heard of and are on your high street, that’s not including the lenders that aren’t accessible by the public and will only accept applications through a broker, and more and more banks will soon operate that way too. That’s because overall the banks and lenders will be getting applications that are well researched and packaged, from a qualified professional who adheres to FCA principles and the treating customer fairly standards of conduct and truth be told, brokers are less costly to them then an Adviser, sat in the bank that they employ.
And, to boot, your needs for insurance (both for you and the building you’re buying) solicitors, surveys, commercial finance, later living finance, wills, trusts and much more can all be handled for you by your broker without you even having to leave your armchair!
Your broker is with you throughout the entire process and is only a phone call or email away. You will also benefit from a dedicated Mortgage Processor who works alongside your broker to liaise with the estate agent, solicitor and lender on your behalf until the the day your either pick up your new house keys or your new mortgage begins.
Then… you’re in! And you can sit back and enjoy your home or make a start on those renovations, improvements and decorations you’ve been planning!
Fast forward a few years and your fixed rate has expired without you even thinking of it. But fear not as your broker will have a reminder and will have already been in touch with you in plenty of time to sort out a new rate…
remember, a broker is for life
If you want to find out for yourself the benefits of using a broker… get in touch today. Its as simple as that!
Shaun Burke – Mortgage & Protection Adviser
firstname.lastname@example.org – 07415 068728