With the uncertainty and volatility of the housing market, we would like you to have total faith in our service and be sure that you’re receiving the best available rate and the best chance of getting a mortgage.
Taking out a mortgage will likely be the largest financial responsibility you’ll take on, with it having a significant impact on your future and overall stability for a long time to come. This is why choosing the best one, finding the right product and signing a long-term contract with a lender should not be taken lightly.
The steps you take now can have a significant consequences for the rest of your life, and your family’s too, which is why working with a reputable mortgage broker is one of the smartest decisions you’ll ever make. We’ll go into more in depth about the reasons to work with a mortgage broker , and the process involved.
What are you looking for?
Should you use a mortgage advisor Belfast when you are applying for mortgage?
Yes. Unless you have many years of experience in taking out mortgages or are already working in this field it’s best to seek the advice of an expert prior to taking out such a large financial commitment.
Be aware that this is a large loan to your name and one that you will be legally bound to, so ensuring you get the best deal and best lender is essential and is exactly what agents are taught to make a living from.
This option is not exclusive to any particular demographic either. If you’re on a lower income, retired, have a single income or have a high net worth, getting a good service from a professional mortgage broker is a sensible choice and will always put you in the best possible position.
What are the primary benefits of using one?
There are many benefits to hiring a mortgage broker over going straight into the banks. Essentially, a mortgage advisor can be described as the individual who serves as your agent between you and a lender. However, before that happens, there are many other advantages to using a mortgage broker, including:
Before you apply for a loan, you must find one.
The first benefit of working with mortgage brokers is that they can search the entire marketplace for the best product for you and your situation. Many, like the ones we collaborate with have access to areas of the market which are not visible for the general population, therefore the chances of you securing the best deal are greater.
Many lenders will directly approach brokers to provide them with exclusive mortgage deals too, which have better prices of interest and with fewer fees attached and flexibility, which you won’t have access to without an experienced professional.
The process of searching for deals requires time and effort and effort, not to mention the cost. Brokers can help you to cut out everything time, but it can also be a rather stressful experience for those with no prior experience in this area. A decent broker will also be able look over your specific circumstances and provide valuable financial advice and guidance prior to you take on any mortgage.
Once you’ve found your ideal mortgage , you can close the deal.
When your broker has found the right product for you and you’ve chosen the right product, they’ll play the necessary, expert assistance by assisting with your application to ensure it’s in the best condition for lenders to consider. While your application is being reviewed and processed by your broker, they will continue to be an asset to you by offering security and protection, checking paperwork and hidden small print that could affect you negatively in the future, and undertaking contract negotiations for lenders on your behalf.
They will also make sure you’re well protected in your new residence by suggesting types of insurance that you’ll require like life insurance and home insurance. Brokers are also able to arrange deals for these types of products and are able to access many suppliers.
Are there any drawbacks you ought to be aware of?
In weighing the pros and cons of registering a broker, it’s always worth using a balanced approach and being diligent. While the majority of whole-of market brokers have a good reputation, it’s imperative that you choose one that is in alignment with your beliefs, values, and goals, and who can offer the advantages you require.
Mortgage brokers are there to assist everyone on the market, it might not be worth it to those who are already a financial expert with significant mortgage experience. There are broker fees to be considered however, you should think of this as a component of your total mortgage payment, because many will cost you a lot more than the total amount they can save you.
How do you make sure that your broker is qualified and has the proper expertise
Without any recommendation or endorsement from elsewhere in the industry it isn’t easy to know how to find the right person for you. Doing your homework on brokers at the very beginning is as vital to your mortgage’s success as finding the ideal lender, so ensure you look at:
Another method to make sure that the broker you choose has the best experience is to find them through a third-party, such as the way we deal with matching advisors and homebuyers. This will ensure that they’ve been examined, they’ll be well-trained and have been rated five-star for previous customer service, and they are always acting in the best interests of their clients, with no affiliations to specific lenders.
Services that your broker will be able to provide
In addition to the ones we’ve already discussed – that your broker can provide guidance, assistance, and help you find deals and lenders, provide security and help you save time and money, there are numerous particular advantages of having a broker at your side.
If you’re in a particular situation that isn’t in a position for the typical mortgage, a reliable broker is equipped with the knowledge and experience to help you either get your foot up the ladder of property, get your remortgage over and over, or even assist with the purchase of your dream home.
Even if you have poor credit, would like to finance your own self-build, are thinking about buying overseas or looking to expand your portfolio of buy-to-let properties, have an agreement with zero hours, need to let equity go, purchase land for commercial purposes or you are thinking about some government schemes.
Whatever your needs, specialist brokers will ensure that you don’t only secure your loan however, they’ll also ensure that you’re applying only for mortgages that you are eligible for, making sure that you don’t negatively affect your credit rating. They will also help your mortgage application to be processed on time by liaising with involved solicitors as well as estate agent.
My broker will submit my application on my behalf?
A broker will assist you in create the most effective application. They will require your help to get hold of all documents, evidence and documents needed to support the appeal. Afterwards, they will be responsible for transmitting the mortgage application to the lender that you are aiming to apply to.