What to look for when choosing your mortgage broker

As one of the biggest financial decisions you’re likely to ever make, buying a place to call home isn’t something that should be taken lightly. Thankfully, you don’t have to go through the often long and arduous process of purchasing a property alone. Alongside a good conveyancer and property surveyor, most recommend the use of a mortgage broker.

There are many benefits that go hand-in-hand with consulting a mortgage advisor. You’ll save time and money, with access to the widest range of lenders and mortgage deals around, many of which may not be available to the public when applying directly. With lots of mortgage advisors to choose from however, how can you find the broker who can help? By ticking the following boxes of course…

They’re independent

Not all mortgage brokers were created equal. Some have affiliations with specific lenders, which can be a big no-no when scouting out deals that are right for your specific circumstances. The key to success is selecting a broker that is independent – just like us! Here MoneyHelper explains why independent advisors reign supreme:

“…a mortgage adviser working for a high street bank can usually only recommend that bank’s products and investments. Both types of advice will be tailored to you, so the quality of advice should not be affected. But if you want the greatest choice across a range of products, an IFA might be able to find you more options than a restricted adviser.”

Unlike other advisors, an independent or ‘whole of market’ broker isn’t restricted to particular lenders. They can compare mortgages from a broader range to find you a product that best matches your circumstances. This is particularly good news for self-employed applicants, those with smaller deposits or people with complex borrowing needs.

Here at The Mortgage Bureau, we are fully independent – which means we’re independent of all mortgage lenders, estate agents and life assurance providers. By being independent of estate agents, we won’t divulge important financial information which could potentially compromise our clients’ negotiation position. 

They’re experienced

Having experience matters, especially when finding the right mortgage deals for a buyer like you. Whether you have adverse credit, are self employed or looking to make a buy-to-let investment, or your circumstances are pretty straightforward, calling on a mortgage broker that has experience can make the process much smoother with their knowledge of lenders (and their criteria) saving you weeks of time and plenty of heartache.

They’re transparent

To truly make the most of mortgage advice, you have to partner with a broker that is fully transparent.

As well as having all the necessary regulation and accreditation, transparency around fees can make budgeting for your property purchase simple. With this kind of transparency, you’ll know exactly what you’ll pay, when you’ll pay it and if the broker you’ll be using will receive commission from the lender involved.

Our honest advice extends to every aspect of our service, from our fees to our consultations and aftercare.

They’re trusted

Sometimes it is a mortgage broker’s reputation that speaks for itself so be sure to take a closer look at the reviews associated with your shortlisted few. Reviews give a very valuable insight into a broker’s service, with professional, responsive, reliable and successful support and assistance certain to shine through!

They’re here for you

We do the hard work financing your property purchase so you don’t have to. Attention to detail and strong problem solving skills are all part of the service, and it’ll make it less likely that your mortgage application is delayed or declined. At The Mortgage Bureau, we work for you, providing a proactive service that takes you from application all the way through to completion and beyond.

Ready to get started with your property purchase and the very best mortgage advice? Contact our team today to discuss your next steps.