Buying a home is one of life’s most exciting experiences, but this can quickly be dampened by the sheer amount of time, energy, and stress it takes to complete the process. With thousands of lenders out there, it can be intimidating even to think about where to start, this is where the helpful guidance of a mortgage advisor comes in.
With help, advice, support, and guidance from a reliable
mortgage advisor, you can take the overwhelm out of seeking a mortgage and begin to enjoy the process of buying your very first home or moving home. In fact, it’s something that around 80% of people in the UK do, with mortgages being secured after taking on some sort of advice.
If you are at the very start of your journey and are hesitant about why you should use one, keep reading for a little more info.
The Role of a Mortgage Broker?
A
mortgage broker is a person or company that works directly with you to help secure a mortgage deal between you (the borrower) and the mortgage lender. They will aim to understand your circumstances, needs, and wants and work to find a deal that matches your criteria.
Will I Have to Pay to Use A Mortgage Broker?
Different brokers charge in different ways, and this is based on a variety of factors, such as how much you want to borrow. Some will charge a fixed fee upfront which would be agreed in writing with them beforehand, and some will charge an hourly rate. Other more common ways a broker will earn their money is by commission from certain lenders and as a percentage of your mortgage, but again cost should always be discussed upfront.
Benefits of Using a Mortgage Broker.
Below are some ways we here at your expert
mortgage broker in Manchester think that a mortgage broker can help during the application process.
Expert Financial Advice.
To be a mortgage advisor in the UK you need to be certified, which ensures that any professional you speak to about your mortgage will be qualified. They possess comprehensive knowledge about the mortgage market, its products, interest rates, and lenders' criteria and on top of this, they also have a duty of care to their customers, making them champions in gaining the right mortgage for you.
You Could Save Money.
Mortgage brokers are well-trained in matching your needs and personal circumstances to the best deals on the market, meaning they have a greater chance of getting you a better deal than if you went it alone.
You Will Save Time.
The mortgage market is a minefield and one that you can get easily lost in, from researching lenders, and comparing interest rates and loan terms, the process can quickly become overwhelming. Using a broker whose job it is to research the market daily will save you hours which could be spent dreaming about your home and how you’re going to decorate it.
Access to a Wider Range of Products.
Using a broker, who will likely be connected to a professional network within the mortgage sector and therefore has access to more mortgage products, can give you leverage to negotiate better rates. This may also mean that your mortgage broker has access to products that aren’t available to the general public.
Help with Paperwork.
There aren’t many people who like paperwork, but when it comes to applying for a mortgage, unfortunately, it is paperwork-heavy. Using a broker whose job it is to do this every day, means that they know exactly what documents you need and what forms need to be filled in, saving you time, and making your life that little bit easier.
Application Handled for You.
Another part of the mortgage process that is time-consuming and overwhelming is the application process. Your mortgage broker will handle this for you, which can be invaluable at such a busy and stressful time.
Insurance Guidance.
Insurance is a vital part of the mortgage process and not just for the home. A mortgage broker can usually help with securing life, home, and critical illness insurance to ensure your loved ones are taken care of should the worst happen. They can advise which insurance products will be best suited to your circumstances and can help with the applications.
Taylormade Mortgage Advisors: What We Do and How We Do It.
We are an independent
mortgage advisor in Manchester and our job is to design specific mortgage solutions to meet our client’s individual needs. We take the stress and worry away; enabling every client to enjoy the process from start to finish. We take you through every step of the process: from finding you the best deal right through to completion. We even give an annual review to ensure your current mortgage arrangements remain the most suitable.
How an Independent Mortgage Broker in Manchester can Help You.
Taylormade has been providing comprehensive financial services for 8 years and has set ourselves apart through our no-nonsense, jargon-free approach. We are authorised and regulated by the Financial Conduct Authority to give customers complete peace of mind. By providing all the information you need to make an informed decision, Taylormade supports you all the way.
Any one of our experienced and
professional mortgage advisers will be more than happy to talk through your circumstances and recommend the best course of action for you. We’re a friendly bunch here at Taylormade so why not
get better acquainted with us?
