Why Use An Independent Broker
Buying a home is undoubtedly one of the biggest purchases you are likely to make so it is important to get the best deal on your mortgage. Hiring an independent mortgage broker rather than going through a direct lender has numerous benefits. You can get the best deal by taking this approach and finding the right home loan will be less hassle. To help you make the right choice, here are some more advantages of hiring a mortgage consultant.
An independent mortgage advisor is an intermediary who will find the right deal for you. There are various offers that are available from lenders. You have the option of using a tied, multi-tied, or whole market broker. In general, it is best to opt for whole market brokers as they have a vast knowledge of all your loan options and can advise on the best product without being restricted to one lender or loan type.
An independent advisor is licensed and regulated by the FSA. Some brokers work on commission basis and provide you advice for free. They are compensated by the lenders directly after arranging a loan through them. The FSA regulations ensure that these independent brokers offer their clients independent advice without being influenced by a particular loan deal.
Some consultants may charge the customer a fee for their services as well as commission from a lender. In this instance, they will offset some of the earned commission against the cost of your home loan. Hiring a broker is therefore, a convenient way of getting the right loan package that suits you without committing to many hours of searching.
When you use this service, you will save yourself time and hassle in finding a suitable home loan. Perhaps the biggest benefit is that this service will not cost you anything. An experienced consultant will browse through a wide range of deals on your behalf before recommending the ones with best interest rates.
Once you have agreed to take up the suggested loan offer, all you are required to do is fill out a simple application form before the consultant forwards it to the lending company. If you choose an established loan advisor, he or she will have contact links with a large number of lenders. By ensuring that you find the most experienced broker, you will be able to get the best home loan that caters to your particular needs.
Borrowers who have a poor credit rating and are looking for an affordable home loan should also turn to a qualified advisor. This consultant will most likely know which lending company offers affordable loans despite their bad credit rating. If you are one of those people with poor credit rating and are looking for a bad credit home loan, you can save yourself the hassle of going through different applications by hiring an independent advisor.
Using a home loan advisor is a great way to get a good deal that meets your personal circumstances. This is a good solution to finding the right loan without working hard for it. The assistance of a professional consultant is priceless when it comes to getting an affordable home loan.
Here at Prospect Tree Mortgages we are independent brokers who currently focus on the Ashford Kent and surrounding areas. If you live in and around Ashford Kent and are looking for a new mortgage, to remortgage, or simply want free independent advice, then simply call us on 0800 0443833
January 09, 2017 at 12:34PM