Reasons To Use Mortgage Broker

If you’re looking to secure a mortgage, then it can be well worth using an independent mortgage broker. We take a look at the benefits.

1. They make it easy for you

Seeking out the best mortgages for your needs is a time-consuming, difficult job in such a big market. An independent mortgage advisor, or mortgage broker, can do the hard work for you. By using state of the art technology and packages which can instantly scan the entire market, the broker can find deals that you might not otherwise see.

2. They have access to special deals

Some mortgage providers will reserve certain special deals for brokers only. This means that you may not see them at all if you go direct.

3. They can save you money

By understanding your circumstances and the way that the mortgage market works, a broker can help to find you a deal that will best meet your needs and ultimately save you money. Many will not charge you either – instead taking their commission from the mortgage lender directly. Make sure you use a whole of market broker so that they aren’t tied to recommending products from a certain lender.

4. They can be held accountable for any errors

The mortgage application process can be complex and it is easy to make an error. By using a broker, you will be receiving financial advice and support with the application process. This means that if an error occurs, the broker will be accountable and you can put in a complaint for them to fix – and potentially compensate you for.

5. A quicker process

Because brokers know the mortgage process inside out and hold relationships at banks, the application process will tend to be smoother and go without as many hitches compared to an application that you might place yourself. This removes significant stress from the process!

In summary, by using an independent mortgage broker you can end up with a cheaper deal that meets your needs, and have none of the stress or delay in securing it by having someone else do the hard work for you!