If you’re new to the world of property and are considering purchasing your first home, then you may be curious about the advantages of using expert services such as a mortgage broker.
Here are just a few of the advantages of using a residential broker service like ours:
The long and short of it is that a broker will do the hard work for you. There’s no need to spend hours researching the different types of loans, calculating interest rates or scouring the internet to see which lenders will offer the best deals for you.
Using an expert service will make the process much more convenient, so you can concentrate on working hard to save a deposit.
You’ll Receive Impartial Advice
If you’re not familiar with the financial market, it can seem a little daunting. Therefore, asking for advice is a no brainer. However, not all online resources or in-house advisors are completely impartial.
Enlisting the services of an independent mortgage broker will allow you to rest assured that you are being presented with some of the best deals for your needs – and not simply a quote from a lender that’s currently being promoted.
There’ll Be a Whole of Market Comparison
Furthermore, an independent broker will look at a vast variety of lenders and carefully balance out the benefits of each before presenting you with a select few deals.
Doing this on your own could be an extremely stressful and timely process, whereas going direct to a bank or building society won’t provide you with such visibility.
Exclusive Broker-Only Deals May be Available
Finance is our bread and butter. It’s what we do day in day out, therefore our residential mortgage brokers have strong working relationships with a number of lenders. As a result, we’re often presented with broker-only deals that you simply would not get if you went directly to a lender.
Pre-Qualification is Possible
Every time you apply for a loan a credit check is done. If you’re unsuccessful for whatever reason, this will leave a mark on your credit history. Unsurprisingly, the more ‘marks’ you have, often the less likely you are to get accepted for a loan in future.
Using expert knowledge, or even their own software, an expert will be able to advise whether an application will be successful before running a credit check – possibly saving you a dreaded mark.
You’re More Likely to be Accepted for a Loan
Along with pre-qualification checks, mortgage brokers know which lenders will lend to people in unusual circumstances. So, if you’re self-employed or have bad credit for example, we can tailor your loan applications so that they are presented to lenders who are more likely to look favourably on your case.
Need Help Getting on the Property Ladder?
Whether you’re looking to buy a one-bedroom flat in London or a four-bedroom house in Cardiff, we can help find you competitive deals when buying your first house. Get in touch or click below to learn more.