Death, marriage and moving to a new house. These are the most stressful things that a human being can do. We can’t help with the first two, but we can with the third!
The move to a new home is usually accompanied by a First Time Buyer mortgage or a Home-mover mortgage. Each of these requires that the borrower satisfies the lender’s criteria predominantly based on the suitability of the property as mortgage collateral and the ability to meet repayments (amongst others).
There are many, many lenders in the UK and mortgage and re-mortgage products number in their thousands; so how do customers navigate the plethora of products available to choose from? And for those with criteria that may reduce their options (e.g. self-employed, credit issues and so on), how do they find the handful of niche lenders they’re looking for?
Enter the whole-of-market mortgage broker!
A whole-of-market mortgage broker isn’t tied to a single lender or a panel of lenders. We operate across the whole of market*, working with all of the big named lenders that you’ve heard of, and the smaller, niche lenders that you probably didn’t even know existed.
As whole-of-market brokers, we have a duty of care to our clients – we’ll say that again – we have a duty of care to our clients to ensure that we find the best and most appropriate deal for you. This is dependent on your circumstances, your financial objectives, the property in question, what’s available on the market at the current time and what is likely to happen in the future.
Industry knowledge is an important part of a whole-of-market broker’s role. Working UK-wide with many lenders, its vital that we are constantly updated, informed and educated about products in our marketplace. This may not be the case when clients apply directly to a lender, who only has a need to understand their own products and as a result, may perhaps be sold one that isn’t the best possible fit.
But what about the fees?
Yes, you may be charged a fee. But don’t let that put you off using a whole-of-market broker. Compared to going directly to a lender, where they can only offer their own products, a whole-of-market broker is more likely to be able to source a better deal from thousands of products, often one that is much more cost effective across the term of the loan – including the fee! Plus, the mortgage broker will handle the paperwork, liaise with the lender, will know which lenders are suffering a back-log and which can move quickly – in other words, a broker can be the difference between actually buying the property, or losing it!
Alleviate the stress from one of the most stressful and demanding things you can ever do - buy or move house – by contacting a whole-of-market mortgage broker. You can speak to a member of our team on 0844 69 333 60 for a free and no obligation discussion.
*excludes direct to lender products
Your property may be at risk if you don’t keep up repayments on your mortgage.