Why use a mortgage broker?
Buying your first home, moving home or re-mortgaging will involve a number of costs. You will understandably want to save money wherever possible and many will think that mortgage broker fees are an unnecessary cost that can be removed. After all, what can a mortgage broker do that you can’t?
Naturally, we praise the virtues of mortgage brokers, but not without reason. By approaching a mortgage provider directly, it may seem as though you’re simply cutting out the middle man; but it’s much more than that. There are three key reasons to use an independent mortgage broker.
The instant you become a client receiving mortgage advice, your broker has a duty of care to you. They are duty-bound to recommend the most suitable mortgage for you and should be able to justify their reasons for recommending that particular mortgage. If you feel their advice isn’t up to scratch, you may make a complaint with the possibility of compensation to the regulator that manages your firm’s complaints.
Qualified and experienced
Selecting the right mortgage is not as easy as just choosing the cheapest deal you can find; the marketplace has changed dramatically in recent years. Your mortgage broker will understand the latest products, the financial markets, any offers and requirements to obtain those offers. This means that your application can be completed more quickly and efficiently. A broker is also likely to receive speedier responses from lenders, therefore your case is likely to be processed quickly and error-free. In fast-moving housing markets, speed is of the essence.
Every situation is different and can bring mortgage application challenges. But whatever your situation, your broker will have managed a similar one before!
The entire market is available to you
An independent mortgage broker, such a First Financial Solutions (Wales) is on your side and will search the whole of the market to find the best mortgage option for you. This gives you a far wider range of options than if you went direct to a lender that would only offer products from their own limited range.
Independent means independent. You’ll be provided with unbiased advice and a variety of services and products from different, and sometimes specialist lenders to choose from, rather than the restricted products you’d be offered directly from lenders.
Here at First Mortgage Solutions, we will take your entire circumstances into account when recommending a suitable product for you – we will look at every aspect of your situation and your desired financial future and professional, first-class advice. Every time!
If you would like to speak to one of our advisers about a mortgage, residential or commercial, please get in touch today. Please call us on 01639 262222 or click here to contact us.