The benefits of an Independent mortgage broker

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Making the decision to buy a property has perhaps never been more of a commitment. In addition to the financial requirements tied up in house buying there is also the emotional rollercoaster ride of the property market. The joy in prospect of exchanging contracts is all too often replaced by heartbreak when deals fall through. One of the most testing elements of the whole process is securing a mortgage. But with so many to choose from, even before you consider variable, tracker or fixed-rate, seeking informed advice is a must. Finding a reliable broker can help protect you both emotionally and financially.

Mortgage brokers act as go-betweens between you – the customer – and prospective lenders. They are market specialists and as such they have an all-encompassing knowledge of what can be a trying and worrying time for homeowners. By getting to know you and your needs they can advise you fully on the best deals for your personal situation. Be aware though that not all mortgage brokers are the same; tied mortgage brokers are connected to a very limited number of lenders and as such will only recommend from a small amount of options, multi-tied brokers represent a selection of potential lenders and endorse products from them and finally there are independent mortgage brokers who have an impartial overview of the entire market.

The whole market status of independent mortgage brokers makes them an invaluable asset when hunting for the perfect mortgage. More often than not, these highly skilled brokers can conveniently visit you in your home and guide you through the intricacies of all the financial products available. And that is not the only way they can ease the process.

With lenders increasingly cautious about committing to mortgages having your case presented by a recognised professional can really boost your chances of acceptance. Similarly, an independent mortgage broker can assist you in filling out the paperwork required in addition to taking copies of necessary documentation – this can save you having to do this for each and every application and thus save you valuable time. But most importantly, their market wide approach really can provide you with the most competitive deals.

For most people, mortgage selection is the most important and extensive loan they will ever take out. Getting it right is of paramount importance and an independent mortgage broker can ensure that you really do find the best deal for your circumstances.

 

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