5 Reasons Why You Should Use A Mortgage Broker

As with many tasks or purchases today, especially with the advent of technology, it is possible to 'do it yourself' when applying for a mortgage, whether it be online or talking to your local bank branch.

However, a mortgage is one of the biggest financial commitments anybody will make in their life. It's essential to get this decision right and isn't one that should be taken lightly.

While there is plenty of information online about mortgage products, it often does not reflect the reality of actually applying for the mortgage, or the details as to whether or not you would match the criteria required for them to offer you.

1) Save Money

Comparison sites are a good place to start in terms of getting an idea of what potential rates are on the market. However, they are not as comprehensive as they may seem.

Not all products from one lender will be shown on comparison sites, and not all lenders on the market will be listed.

By working with a mortgage broker, you can be sure to have access to the widest range of lenders and the most competitive mortgage solution for you.

2) Save Time

It may make sense in life to do some things yourself. But a mortgage shouldn't be one of them. The process itself can take a number of weeks or sometimes months from start to finish. Save time by working with a mortgage broker to complete the process, enabling you to spend your time on other things you might enjoy more!

3) By Your Side From Start To Finish

Applying for a mortgage can be a stressful process if doing it alone and buying a home is also often considered one of the most stressful events of your life.

The process doesn't stop at choosing a lender. If you do it alone, you will be burdened with the application completion, going back and forth to the lender with any queries and following up on progress. Lenders deal with hundreds of applications per day and sometimes individual applicants can feel left in the dark throughout the process.

A mortgage broker is experienced in getting applications through from start to finish on a regular basis. We can eliminate any guesswork and make sure the lender has everything they need to know from the start. We will maintain regular communication between the lender and yourself, making the whole process run more smoothly.

4) You Don't Know What You Don't Know

When people apply for a mortgage themselves, typically all they focus on is getting the lowest interest rate possible. There is much more to consider whether a mortgage product is suitable for your circumstances, such as product application fee, ability to repay early and the ability to transfer the mortgage to another property.

If you agree to a mortgage that later proves to be not quite the right fit, you are stuck with it or may face heavy charges to change it.

Our mortgage brokers are thoroughly trained and are also regulated by the UK Financial Conduct Authority. You can be sure that the expert advice that is given, is impartial and will be the most suitable solution for your needs.

5) Specialist Situations

Your circumstances may mean that traditional high street lenders may not even consider you as a suitable borrower. For example, you may be a foreign national looking to buy an investment property in the UK. Or you may be a UK expat looking to remortgage your UK property.

You may appear to meet lender criteria on face value on the comparison site but upon delving deeper may find that not to be the case. There are so many moving variables that have to align that it's difficult to get an accurate real-time picture when doing it alone.

Mortgage brokers have built up relationships with traditional and specialist lenders over a long period and understand their criteria on a deep level. Also, they may be aware of limited and niche products that don't get distributed widely. They can understand your specific needs to match you with specialist lenders on the market to bring you the best solution.

>> LOOKING FOR A MORTGAGE BROKER? <<

Why go through the hassle and effort of doing it alone? Let Cedar Crest help you. If you are considering purchasing a property, investing for the longer term, or looking for professional advice we can help you take the next steps. To discuss how we can help you, contact us –UK +44 (0) 203 883 1017 Hong Kong +852 6017 4140 – email info@cedar-crest.co.uk.

Your home may be repossessed if you do not keep up repayments on your mortgage.