What Does A Mortgage Broker Actually Do?Kieron
For years now, when meeting people for the first time I’ve been asked “what do you do for a living?” and I have lost count the amount of times I have had the same response when I’ve explained that I’m a Mortgage Broker, “I didn’t know that you could do that, I always just go to my bank!” is the usual response, which, after a quick analysis is then usually followed by “wow, I didn’t know I could have been saving so much”.
So I thought I would just take the time to give a quick break down of what I can actually do for you as a Mortgage Broker, regardless of if you are a first time buyer, home mover, re-mortgaging or buying to invest in property.
Finding The Most Suitable Mortgage Deal
The first and most basic principle of any whole of market mortgage broker like myself, as the name would suggest, is to take your details and go to the whole of the market to find the most suitable mortgage deal that is available to you. That means that I am able to search all of the high-street lenders and banks that most people have heard of but as well as this I also have exclusive deals from broker only lenders that are not available to the general public. So basically, you run through your details with me once and I am able to search all of the lenders on their panel rather than you having to go from bank to bank wasting hours of your own time repeating the same information. Many of us already use an online service to compare the insurance market, my service works in a similar way but with a personal touch so that you don’t have to share sensitive data online.
Matching The Mortgage To Your Needs
A good mortgage broker should be able to identify criteria within your circumstances when they first speak with you that they know will only fit with certain lenders and this is when professional advice can really save you a lot of time and can even be the difference of you actually attaining that dream home or not.
A good broker will speak to you about your life time plans to make sure that any recommendations are suitable to match them, because a mortgage is not a standard “one size fits all” product, and this can differ massively depending on if you are a first-time buyer or a seasoned house buyer.
Many first-time buyers as well as home movers and experienced buyers still do not fully understand the whole process and what is involved in the mortgage process, this is where a good mortgage broker comes in. A broker should use simple understandable language and not allow you to commit to anything until you fully understand what it is you are committing to, and further more, once the mortgage is in place a good broker should also be at the end of the phone to provide on going advice and look after you throughout the term of the mortgage ensuring all of your best interests are looked after.
Ensuring That The Process Runs Smoothly
In addition to the advice side of things, using a mortgage broker can also make the administrative side of the house buying process a lot easier as a good broker will also submit all of the application on your behalf and help you to gather the documents that you will need, and they will then supply them to the lender for you, again taking as much of the hassle as possible out of the house buying process.
To sum up, a good mortgage broker should not only search for you the best product on the market to match your needs, but they should be able to hold your hand all the way through the house buying process and beyond that for the lifetime of your mortgage, and always be at the end of the phone whenever you need them.
Mortgage Broker In St Helens
I was born and bred in St Helens, as such most of the clients that I deal with are looking for a mortgage in St Helens. My local knowledge and location allow me to meet with them face to face and offer the best mortgage broker service in St Helens.