Mortgage broker
Mortgage Broker, as a term has over time, become less used. People these days tend to refer to the Mortgage Broker as a Mortgage Adviser – and in fact this does seem more accurate given that it is advice which, at the end of the day, is on offer. Nevertheless, the terms Mortgage Broker and Mortgage Adviser are still pretty much interchangeable, with the term Mortgage Broker tending to be used by those who perceive the traditional Mortgage Broker as being someone who acts as an intermediary between members of the public and the various lenders, be they banks, building societies or other types of lending specialists.
What can a Mortgage Broker do for you?
Amongst other things....
- A Mortgage Broker will help you find the best deal available from many different lenders and ensure that the deal properly meets your needs and importantly, that the lender is someone who will be keen to have you as a customer
- A Mortgage Broker will help you understand documentation and terms used within the industry
- A Mortgage Broker can help you actually complete the documentation
- A Mortgage Broker will help with the application process once he / she has recommended what they believe to be the best deal for you, and once this deal has been secured
- A Mortgage Broker will follow up the many odds and ends involved in the mortgage process and will also keep you informed of progress
- A Mortgage Broker will be able to visit you at home if required – or perhaps will be able to welcome you into his / her own office.
- A Mortgage Broker may even be able to deal with you remotely, by letter, phone, email or some combination of these methods that works for you.
In our view, the most important thing when selecting a Mortgage Broker is to make sure you find one who is truly independent or impartial. This ensures that the Mortgage Broker will work for YOU – and not be restricted to the products, for example, of one particular Bank (in the case of the Mortgage 'adviser' being a bank employee). Remember, a Mortgage Broker at a Bank, may well be focused on targets he / she has been given – or indeed what is best for the Bank and its shareholders – rather than what is best for you.
Whichever Mortgage Broker you select, make sure you feel comfortable with them. Their involvement in your life could be very significant so you need someone you can trust. Your relationship with the Mortgage Broker will hopefully be a very longstanding one, so be as selective as you wish and never compromise on independence. You need to make sure you've got a Mortgage Broker who can look across a wide range of lenders and mortgage products and recommend, from these, only the very best they can find – for YOU.
Remember. Put yourself first. Decisions connected with Mortgages are important and it is crucial you have the right Mortgage Broker to help you. Why risk losing out when there is a professional Mortgage Broker to be found simply by using our services.
