Should I use a Mortgage Broker or a BankDo I need to use a mortgage broker or a bank?
If you are a first-time purchaser looking for a mortgage, writing off a mortgage, moving into a larger home or taking advantages of the government's Help to Buy program, you have an important choice: whether to use a mortgage broker or a bank. We will look at the advantages and drawbacks of taking action directly against the use of a company of mortgage consultants such as Visionary Finance.
A key advantage of this is that the bank knows your client image and may reduce the need for support documents. You may also be able to provide you with a pre-approved credit line so that you know from the start how much you can borrow.
However, through an already established and long-term relation with your bank/building association, there is no guarantee that you will profit from favourable mortgage interest conditions, as only mortgage loans from their own portfolio can be provided by them. When your circumstances do not satisfy the strict credit requirements, you will either be given a lower credit amount or a credit offering will be rejected.
Due to this inflexibility in your credit policies and restrictions on mortgage product, you may pay a higher mortgage interest and not benefit from the best business in the mortgage markets. Are brokers not dependent on all bank ers and bausparkassen? Is the broker offering mortgage loans from the entire mortgage subprime mortgage subprime mortgage subprime mortgage subprime mortgage subprime mortgage subprime mortgage subprime mortgage subprime mortgage subprime mortgage subprime mortgage?
Does the broker charge a commission for his services or do you receive free broker services? A few mortgage agents are only bound to certain creditors, which means that they are limited in the number of creditors to whom they have direct contact, thus restricting the ability to get the best mortgage for you.
A lot of mortgage agents calculate a commission to be paid to them once they have arranged your mortgage for you. The payment of a broker' s commission does not mean that you get specific tariff or lender privileges, because if the broker is entirely on the open end of the mortgage ladder, a non-chargeable broker can do exactly the same things as a chargeable broker.
Our reputations have been based on delivering outstanding client services, and what makes us an appealing Brokerage company is that we do not collect broker fees and are an independant mortgage broker. We are able to use and exploit our broad experience of the mortgage markets to offer you a mortgage that meets your needs.
With our competent mortgage consultants, we are able to advise you impartially and are proud to offer you a truly individual approach. Our company also specialises in the new construction and help-to-buy mortgage sectors. We also have deep expertise in the buy-to-lease mortgage markets, particularly since the recent changes to PRA and FCA implemented in September 2017.
With our understanding of the buy-to-lease mortgage markets and the fiscal impact on lessors, we are in the best possible financial situation to offer competent advisory services.