“Why Should I use a Mortgage Broker?”
Buying a house can be tough. 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.
A mortgage broker is essentially a middle-man for the mortgage process – a little like the wholesaler in the retail industry. Your mortgage broker will have access to a wide range of lenders and will help you choose the most suitable one for your situation.
It is their job to make your mortgage process hassle-free, undertaking tasks such as liaising with the lender and all other legal parties. They 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.
An unbiased source of information
Intermediaries are unbiased parties, who have access to a wide range of lender rates at their fingertips. This means they can advise you on the best lender for your situation. And if you’re not ready to apply, they will certainly give you the heads up and will even help you get organised for the future.
Call in the experts
Intermediaries are experts in their field and have years of experience managing mortgages on behalf of their clients, and this will speed up the whole process.
For example, your intermediary will fill out your mortgage forms and handle the finer details with practiced skill, as they will know what the lenders are looking for and can explain away any uncertainties.
Peace of mind
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.
The final stages of the application are usually the most nail-biting, so it’s good to know that your intermediary will be on standby, making sure that the loan offer is finalised and all terms have been met.
A back-bone of 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.
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.
The hard work is done
Getting a mortgage can be time consuming. Your mortgage broker will manage this process from start to finish – so you don’t have to worry about handling any paperwork or getting admin head-aches.
At the beginning, 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.