Here are 10 reasons why you should use a broker and how it can make things easier:
- More product options
There are thousands of mortgage products available in the market, some of which are only exclusively available via a broker. This is the key service a broker provides, the ability to compare all products and offer advice on which is the most suitable for your needs. In some cases lenders will even offer better rates to brokers than their existing customers.
- Market knowledge
A broker has the experience and knowledge to give a detailed analysis of the industry, both in it’s current form and what lies ahead. We have access to insights from others within the industry and often will receive notifications of changes before they are formally released.
- Impartial advice
An independent whole of market broker will provide honest, reliable advice. We don’t try to sell you certain products and will go above and beyond to put a clients best interests first.
- Keeping up to date with products
Part of a brokers job is to identify the best deals as soon as they become available. Products change on a regular basis and by working with a broker, you can ensure that you don’t miss out on any products that are being withdrawn quickly. On the other hand, if new products are launched that are more suitable for you or a better fit, we can quickly notify you of this.
- Paperwork
Nobody likes completing paperwork and forms. A good broker will help complete the paperwork and take the stress out of this for you. It is essential that paperwork is completed and submitted correctly. The smallest mistake can be the difference between getting approved or declined. We take the emphasis away from you and will check your paperwork to ensure these mistakes don’t happen.
- Research and preparation
Finding and applying for a mortgage yourself can be a time consuming and stressful experience. A broker takes this away from you leaving you to relax knowing that it is being dealt with and will guide you through the process from start to finish.
- Maintaining your credit rating
Because a broker deals with lenders on a daily basis, we know which lenders are likely to approve a mortgage based upon your circumstances. This not only saves the time and hassle of having to find a back up plan, it also ensures that your credit rating isn’t impacted by unnecessary credit searches from declined applications.
- Insurance
Many brokers will also offer the associated insurance policies to ensure that you are adequately protected. Whether that’s home insurance to protect your property and belongings, to life assurance, critical illness and income protection.
- Specialist mortgages
We have access to lenders from across the market, ranging from a traditional high street bank, to a specialist lender for those with complex circumstances. Specialist lenders are often difficult to find without the use of a broker.
- Reapplying
Finally, if your application is rejected for any reason, a broker can easily restart the process with another lender, rather than you having to start the whole process again, saving you time and effort.
These are the top 10 areas where a broker can add real value to your mortgage journey. If you would like to find out more about how I can help, please do get in touch.
