What does a mortgage broker do?

Do you need some mortgage advice from a mortgage broker? We all know that taking out any form of loan is a huge financial commitment.  No more so than when it involves your home.  It doesn’t matter where you are in this, whether you are a first time buyer, current home owner looking to get a better deal, or you are considering moving home.  Good mortgage advice is vital.

Of course there are many places you can go for that advice.  From the man in the pub that you met to a personal recommendation from a friend.  From your own investigations on the comparison websites, to properly researched advice from a professional FCA Regulated Mortgage Advisor.

There are many reasons to consider the Mortgage Advisor route, none more so than they are properly qualified and regulated by the Financial Conduct Authority to give mortgage advice (FCA).

Other reasons not to be missed include:

  • Their job is to find you the best deal for your circumstances.
  • An experienced broker knows which deals you are eligible for.
  • The broker is on YOUR side.
  • They will have access to specialist lenders not on the comparison websites.
  • And often have exclusive deals not available through the banks own branches.
  • They have access to the whole of the market and not just the range that a single bank or building society will offer you.
  • A good broker will work with you, the lender, your solicitor and other linked parties to a satisfactory completion.
  • Their mortgage advice will be independent of everyone else in the process, i.e. any estate agent and the lender.
  • Your circumstances will be matched to the correct lenders.  Avoiding unnecessary searches and damaging declines on your credit report.
  • A good mortgage broker, with industry experience, will guide you through the ever changing rules regarding criteria and affordability.
  • You are protected from the mortgage advice through recourse to the broker directly or via the Financial Ombudsman Service.
  • They will advise you of any extra protection you should consider such as life assurance, payment protection or building and contents insurance for the property.

To name but a few……………….