5 Advantages of Using a Professional Residential Mortgage Broker
Buying a home or remortgaging on a property can be a challenging task, given the financial details needed to get the job done efficiently. With the dramatic rise in the number of residential mortgage brokers arranging home loans for customers, the process is now more complex than in previous years.
Who is a Residential Mortgage Broker?
A mortgage broker is a conduit between the creditor (yourself) and the lender (banks) who will get you the right home loan or provide the right mortgage advice to suit your circumstances.
Also Read: Type of Mortgages – Know Which Mortgage is Right For You
What Does a Professional Mortgage Broker Do?
Mortgage brokers can do the preparation of all the paperwork for the mortgage applicant, research the most suitable provider and mortgage deals on the market from the hundreds available, and work closely with the consumer to help you through the application process.
Should I Be Using a Residential Mortgage Advisor?
It is highly recommended to use a professional mortgage broker or advisor. Here are 5 key advantages of having a residential mortgage broker:
#1 – Advice on Multiple Options:
The bank can only inform and advise you on its selected range of products. This will only reflect a small percentage of the products open to you on the market. On the other hand, a professional mortgage broker who has access to a whole of market lenders may have access to a wide range of products. This would dramatically improve the odds of organising a mortgage that is ideally tailored to your needs.
Also Read: Ultimate Guide for Applying for Mortgage With Credit Card Debt
#2 – Save Time:
Applying to a mortgage is a time-consuming operation. Initial processes typically include a mix of phone calls, emails, and meetings. This is accompanied by compiling and supplying a significant volume of documents to be checked, consulted, and clarified. Repeating this procedure to several lenders is an alternative, but it will require a tremendous amount of time and effort. Instead, you can address the specifications with a mortgage broker once to include the necessary paperwork. The mortgage advisor will review several alternatives and provide you with a summary of options and a suggestion on whether the lender is ideally tailored to your specific circumstances and specifications.
#3 – Lowest Interest Rates:
The whole of market or Independent Mortgage Broker has access to a variety of products available from a large number of lender within their panel. They source the most suitable product and lender from after carefully understanding your needs. As they have access to a large number of lenders, they can find the most suitable product to meet your needs with the lowest interest rate available to you.
Also Read: Independent Mortgage Broker in Grays
#4 – Application Screening:
Many mortgage applicants are not sure if their application will be accepted. There are several possible reasons to be worried about this. These include how long you have been employed, recent savings records, other loans, and general account operations. It is not a smart idea to submit a mortgage application without being very sure that it would be accepted, as it will not serve to minimize the odds of having the same loan approved in the future. A professional mortgage broker will begin by conducting a thorough assessment to determine whether the application meets all the criteria and quality measures of the preferred lender. If it is clear that an application is unlikely to be accepted, the mortgage advisor will tell our clients precisely what they need to do to brace themselves to improve their chances of acceptance if it fits lenders criteria.
#5 – Take Care of the Application Paperwork:
The world of mortgage lending is full of jargon and tiresome paperwork, but the professionals at Mountview Financial Solutions will take care of all the hard work for you. We will prepare your residential mortgage application for you so that your new mortgage will run as smoothly as possible. In fact, you are actually only going to be asked to submit the necessary documents and provide information required for your application. A residential mortgage advisor is going to do basically all the hard work for you, so you can focus on moving yourself.
If you are trying to purchase homes, make sure you profit from all the knowledge and skills of a mortgage broker. Mountview Financial Solutions offers specialist mortagage advice on all type of residential mortgages. Our experienced mortgage consultants team will lead you through the different choices available and will advise you on the most suitable possible options to suit your particular specifications. For more information, you can call us @ 02080950120 or send us your requirements at info@mountviewfs.co.uk!
