Getting a mortgage is a huge financial milestone in your life and knowing where to start is tricky, along with the abundance of advice that is available, it can be a pretty daunting process. If we told you there was someone who could hold your hand through the process and guide you to the right path, we’re sure you would be keen to know more.
That’s where a mortgage broker comes in.
A mortgage broker, also known as a mortgage adviser, will assist you in your quest to find a mortgage and make sense of all the information there is to digest. They are knowledgeable in their field and can assess the products on offer, putting you in touch with a lender and mortgage plan that’s right for you.
Reasons To Use A Mortgage Broker
Despite having a personal, tailored experience when finding a mortgage, there are many reasons why you should have a mortgage broker on board:
Mortgage brokers have a duty to set you up with the right mortgage plan, so they will assess your income, spending habits and any other debt payments you have – they take this into account when deciding the right deal for you, so you can be certain you will be able to afford your mortgage repayments.
They can usually tell you which applications are likely to be accepted, so you don’t waste your time applying for something that may be a waste of your time.
A mortgage adviser will complete all the necessary paperwork, so you don’t have to.
Not having a mortgage broker comes with the risk that you won’t get the right deal for yourself and therefore, you could end up paying a lot more money than you actually need to.