Mortgage Broker or Bank?

You might be thinking mortgage broker or bank, what do I choose?

Buying a house can be tough, but a mortgage broker can make things easier. For instance, did you know the mortgage process can take up to 60 hours? That’s a lot of work! And that’s why it’s a good idea to let a professional intermediary take the weight off your shoulders.

What do Mortgage123 do?

Our mortgage brokers are essentially middle-men for the mortgage process – a little like the wholesaler in the retail industry. At Mortgage123, we have access to a wide range of lenders and will help you choose the most suitable one for your situation.

It is our job to make your mortgage process hassle-free, undertaking tasks such as liaising with the lender and all other legal parties. Our brokers will be there every step of the way to give unbiased, professional advice and to help you out with any big (or small!) queries you might have along the way.

Mortgage Broker or Bank?

There are several reasons a mortgage broker is a better option rather than applying direct with a bank.

Efficiency and choice for the buyer are just some of the key points. Continue reading to find out more advantages of using a broker.

We deal with the banks

At the beginning of your mortgage journey, an intermediary will assess your situation and will do depth research into the market.

Further down the line, you can rely on an intermediary to keep the process moving and to keep communication lines open, so you can avoid running to the post office or making calls during your lunch hour. And after your intermediary has received your mortgage approval in principle, they will liaise with the lender, the lender’s valuer and your solicitor.

We provide support

Your mortgage broker is your trusted confidant at all stages of your mortgage journey.

At the beginning, they will talk you through the whole process so you know exactly what’s ahead of you. Throughout the rest of your journey, you may have some doubts or less-than-common requests – and that’s just fine. We are here to help and answer any questions you may have.

We will get you the best mortgage rate

Mortgage123 has access to all lenders, whereas if you applied for a mortgage with one bank you are just getting one rate.

This may result in you not receiving the best rate on the market.

We will save you time

Cross-checking legal documents can be tedious, and if you’re juggling other daily tasks you may miss a vital piece of information or step.

A mortgage intermediary can ensure everything is covered and ticked-off from start to finish. Our brokers prevent ensure that your application is perfect before it goes to the bank. This could cost you weeks to reapply for a mortgage if you submitted your own paperwork that had mistakes.

As a result, you could loose out on the house of your dreams.

We know what we are doing and how to do it

Your mortgage broker will be well accustomed to handling any mortgage query, no matter how big, small or obscure, and will be a much-needed source of reassurance.

Rising Mortgage Rates

It is now more vital than ever to use a broker with lenders rising their rates in a bid to cool down inflation.

If your mortgage rates rises, Mortgage123 can switch your rate to avoid you getting overcharged.

Apply online today for a mortgage or contact us on (061) 599990 if you are still unsure what to pick,  mortgage broker or bank.

Mortgage Guide

Get the information you need to start your journey to buying your dream home!

Mortgage Checklist

A list of the key documents you need when applying for your mortgage.

After AIP Guide

If you have Approval in Principle, this guide will help you with the next steps.