When buying a new home, it’s essential that you have all your ducks in a row – the property, the chain and, arguably most importantly, your finances. But will you need a mortgage broker service? After all, the internet is full of comparison services which you can access off your own back – is a broker really going to offer you more?
Purchasing property is not something that most of us do often. It involves substantial sums of money and strict timescales. When shopping for a mortgage, it is the job of your broker to find you the best terms and rates, saving you legwork and also often having better access to the range of lenders on the market. Sure, you can do this by yourself – but do you have the insight, time and know-how to find yourself the best deal out there?
In my opinion, fee free, independent advice can be worth its weight in gold. First and foremost, many mortgage brokers offer a fee-free service – so you really have nothing to lose. Why not at least enquire and find out whether they can come up with a better deal for you than what you’ve managed to find yourself? It certainly wouldn’t hurt.
I am part way through the process of buying a new home myself and I received professional advice to ensure that not only could I afford my monthly payments, but also that I would be able to raise adequate finance to purchase my property.
I came to my advisor with these two simple queries but came out with so much more. A couple of weeks later I had complete confidence of my affordability, all research and paperwork had been carried out on my behalf and I had achieved a superb 5-year fixed interest rate. Better still, it was all relatively hands free and I could relax in the confidence that the advice that I had been given was trustworthy and comprehensive.
Case Progressor Lauren West, who has recently joined the mortgage broker team Pointers Financial, says,