Mortgage advice
When looking for a mortgage, the whole process of acquiring a mortgage can be one of the most stressful things you will ever undergo. The process of answering neverending questions and filling out boring paperwork can prove tiring and off putting for most people. While people assume that acquiring a mortgage means going to your building society or bank, this can mean you may miss out on the right mortgage for your individual circumstances. It’s important when looking for a mortgage that you have all of your options in front of you before making the final decision. The main issue with getting a mortgage through a bank or building society is that this is not always clear. But this is where a mortgage broker can come in, we specialise in helping people from Scotland get the best deal when looking for a mortgage.
What Is A Mortgage Broker?
A mortgage broker is someone who specialises in locating lenders to meet your mortgage needs. They advise you and recommend the best mortgages for your situation. In addition to this, they facilitate the completion of your mortgage application. Most people feel comfortable going to a bank to get mortgage advice but an institution like this only has a certain amount of knowledge. A mortgage broker is separate to a bank or building because they can facilitate the application but can also recommend the best mortgages. As they are regulated by the FCA (Financial Conduct Authority) and need specific qualifications to give you honest, trustworthy advice, this can give you exceptional peace of mind.
What Does A Mortgage Broker Do?
Put simply, it is their job to find the best mortgage for your circumstances. And they can do this in a handful of ways:
Finding your needs through simple conversation
It can be stressful hedging all of your bets on a mortgage, especially if you are worried about your financial circumstances. Mortgage brokers aim to get to the core of your needs by looking at where your finances are and take the time necessary to understand your personal circumstances.
Providing the best recommendations for your needs
One of the big problems many mortgage advisors have in a bank or building society is that they only have a handful of offers or resources, which means they only are able to access some of the market rather than giving you a wide variety of options. We have access to the whole of the market which results in a better deal for you, not to mention a wider variety of options to choose from so you can have peace of mind in getting what you need.
Dealing with the application
A mortgage application is a long and tiresome process. Making sure that you get every detail just right can be a lot of pressure if you decide to do it yourself. A broker manages the whole application process, giving you the opportunity to focus on the parts of your new house that really matter to you.
Why Should I Use A Mortgage Broker?
Getting mortgage advice through banks and building societies seems straightforward, but going to a mortgage broker can prove beneficial for various reasons:
They can save you money and time
A key part of assessing your financial situation means acquiring the right mortgage deal for your needs. With access to the whole of the market, we can find the right mortgage for your finances. Many people feel that getting the perfect home means sacrificing their mortgage deals and finding something that is beyond their means, which can result in months or years of financial struggles to pay off the mortgage every month. Using a mortgage broker to help you find the right deal can save you money now and in the long-term. In addition, going through a mortgage broker instead of a bank means that you have more flexible times for appointments so you can fit it around your life. Mortgage advisors offer evening and weekend appointments over the phone or in-person as opposed to a bank that usually offers appointments Monday to Friday only.
You're protected if you receive incorrect mortgage advice
Mortgage brokers must have a suitable qualification as required by the Financial Conduct Authority. This means that a mortgage broker has a duty of care. When they recommend a mortgage they have to be able to back up why it is right for you. As a customer, if you receive incorrect advice you are able to complain and receive compensation.
We know that finding the right mortgage isn’t something that can be done over the space of an afternoon; it takes time, effort, and money. It’s crucial to get the perfect mortgage for your financial needs. This is, after all, your home we are talking about. If you want to receive honest and trustworthy advice, get in contact with us today.