Mortgage Broker advice

 

Which Mortgage broker? Why consult a mortgage broker or Insurance advisor ? 

PEACE OF MIND

 

A qualified Mortgage Broker, authorised and regulated by the Financial Services Authority can offer you peace of mind by comparing the mortgage interest rates of a wide range of lenders. Of course you could research the internet and then contact lenders directly, but by arranging your mortgage through a broker you are afforded additional protection if things go wrong.

 

WHOLE OF MARKET

 

A ‘Whole of Market’ mortgage advisor will access the entire mortgage market, over a hundred lenders and thousands of mortgage options. Check for a broker who is truly ‘Whole of market’. One that works with a representative panel of lenders may not include the most up-to-date or best deals. Some lenders such as HSBC only lend directly, or may not pay the broker a fee, but the broker may still be able to advise you.

 

FEES FREE

 

A broker may charge a fee for advice, either a fixed fee or percentage of the amount borrowed. The broker also receives a commission from the lender, often between £350 and £1500 on a mortgage of £150,000 depending on the type of mortgage. Some brokers are ‘fees-free’

 

SHOP AROUND

 

Try to speak to more than one broker and compare their advice then get the best mortgage for you from the broker with the best deal for you. Shop around for a mortgage broker that is ‘fees free’ and this could save you typically from £95 to £1,000 or more. Better still, look for a mortgage broker who is also willing to share their commission with you. This could range from 25% upwards and result in you receiving a share of the broker’s commission, perhaps as little as £100 or more than £500 depending on the broker. All this as well as getting the best mortgage deal for you!

 

An Independent Mortgage Advisor will search the market to compare.

 

Available deals to find the mortgage best suited to your circumstances.

 

Most people readily acknowledge that buying a house is perhaps the biggest single purchase they are ever likely to make, yet the majority of people go directly to Banks or Building Societies. These are able to sell you their own products, which may be highly competitive although there may be more competitive mortgage deals elsewhere better suited to your personal circumstances.