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Why use a Mortgage Broker?

In a recent study by Royal London, 15% of people surveyed said that they would not use a financial adviser. If you’ve found your way onto this website, it’s likely that you’re considering seeking financial advice in the form of a mortgage adviser. However there may be questions that you would like answering.

A question that we are occasionally asked is “What can you do for me that I can’t do for myself?”

The short answer is, some of what we do could be done by yourself, if you have hours of time to dedicate. However some of the mortgage deals that our advisers have access to aren’t all available to the general public. So whilst you would be able to source a mortgage for yourself, many online banking apps have an option to do this, you wouldn’t necessarily end up with the most competitive mortgage deal in terms of rate, duration & monthly repayments. In fact, we’d go so far as to say it’s unlikely that going about it like this would result in a market leading mortgage.

Our advisers are able to search the whole of the mortgage market to source the most competitive mortgage deal for your circumstances. From small Building Societies to large High Street lenders, they’re able to look at what rates would be available. This translates to literally hundreds of different mortgage products, which are then ranked in affordability (we want you to be paying as little as possible for your monthly repayments), checked against the lending criteria and then presented to you to approve. If you have a more complex case, your adviser is able to discuss your case with the various lenders prior to applying for an Agreement in Principle, thus making as little of a dent on your credit score as possible.

After the mortgage application has been accepted, the focus then moves to the legal process. We’re able to gather quotes for you for local, reliable, solicitors, if this is something that you would like to instruct us to do. We are also able to liaise with your chosen solicitor on your behalf, potentially saving you hours of sitting on hold or going back and forth via email.

If it’s the first time that you’ve been through the house purchase process, it can be a bit of a minefield. With a multitude of forms to complete and documents to sign, it can be reassuring to have someone explain the ins and outs of the process and ensure that documents are signed correctly. It’s also useful to have someone to speak to regularly to check where you are in the process, especially as the legal process can take multiple weeks, which can be disconcerting as a first time buyer. With our team, you will have the same adviser and administrator throughout the process, they’ll be your port of call from your first appointment all the way to completion, regularly getting in touch to update you and answering any questions that you may have.

Alongside the mortgage process, your adviser will also discuss how you’re going to protect your mortgage and property. Most lenders require you to have Buildings insurance, at the bare minimum, to ensure that should the property be damaged, there are funds available to make the necessary repairs. Lenders want the reassurance that their loan (which is essentially what a mortgage is) will be able to be repaid should your property be damaged beyond repair. Your adviser will also talk to you about Income protection, Life &/or Critical Illness Insurances, these types of insurance are discussed as it is prudent to consider how your mortgage repayments will be made should you be unable to make payments due to serious illness or death. We have many articles on the Resource Hub going into more detail regarding the different types of protection available to you and if you have any questions, your adviser will be able to discuss them with you.

Going back to the question of “What can you do for me that I can’t do for myself?”, we essentially take out the leg work and find you the most competitive deal on the market, for your circumstances.

What sets us apart from other mortgage advisers is that we go the extra mile & support you all the way through the legal process to completion. We’ll even contact you before your mortgage deal runs out to ensure that you are always on the most competitive deal.

With decades of experience in the industry, our advisers go above and beyond for our clients, ensuring that they get the most competitive mortgage deal, the most comprehensive insurance policies & the highest levels of customer care available.

Book a call with one of our advisers by completing the form below.

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