How to Find the Right Mortgage with a Broker
How much deposit do I need to buy a house?
Getting a mortgage is one of the biggest financial commitments you will ever make – so how do you make sure you’re getting the best possible deal?
While some people go to their bank or building society and take the product that they recommend, others will speak to a mortgage broker or intermediary. Edward Mellor’s team of expert mortgage intermediaries compare the rates of 30+ lenders to find you the best deal on the market and provide you with free, expert advice. So what are the benefits of using a mortgage intermediary?
A Huge Range of Deals
Would you shop around and compare providers when looking for car or house insurance? Make sure you do the same with your mortgage.
A mortgage broker has access to a huge range of deals from dozens of high street and niche mortgage lenders. By comparing the rates and features of these products, they will be able to find the mortgage that’s right for you. Exclusive Rates
Some mortgage lenders operate solely through intermediaries. Others offer exclusive, discounted deals to beat off the other products available on the broker’s panel.
By visiting a broker, you’ll have access to mortgage products at exclusive rates that are not available by going directly to the lender.
Free, Independent Advice
Make sure your mortgage advisor has your best interests in mind.
Independent advisors are not affiliated with any particular lender, and will recommend mortgage products based solely on what’s right for you.
Better for your Credit Score
Each search conducted on your credit history by a mortgage advisor will leave a “footprint” on your file, and going from lender to lender could have a negative impact if they think you could be struggling to get accepted or stretching yourself financially.
A mortgage broker will only need to do one search on your file to find a huge range of deals available to you from a host of different lenders.
Quicker and Easier
With the changes brought in the Mortgage Market Review (MMR), your mortgage appointment could last considerably longer than before while your advisor carries out extra checks to find you an appropriate mortgage.
You will only need to submit your documents to a broker once – saving you several hours in appointments and filling in applications for different lenders. We’ll even help you with any paperwork you’re unsure on!