You're a first time buyer. How exciting! But buying a home is a massive project management task and it can be extremely complicated. On the bright side, a Mortgage Advisor can make all the difference between a nightmare experience and a smooth one as far as the finance side of things is concerned. Here's what you can expect from a good Mortgage Advisor.
Understanding your situation and needs properly
Even a tiny difference in your mortgage rate can save you thousands in interest over the years, and a Mortgage Advisor is your best bet for efficient, effective shopping around without the hassle. They are likely to have exclusive deals with lenders that only they can access. They'll do all the research for you. They'll also save you time by telling you which lenders are likely to accept you and letting you know how to improve your application. And they can even speed up your application by dealing with the paperwork for you, using their expertise to make your application as attractive as possible.
A qualified mortgage broker specialises in mortgages. It's their job to find the right mortgage with rates that suit your budget, showcase the best options, identify the best lenders and mortgage deals. Every home buyer is unique, with their own budget, outlook, attitude, expectations and needs. You need a Mortgage Advisor who takes the time to get to know your situation and treats you like an individual. Someone who understands that a property purchase is about much more than buying a building - it's also deeply personal. This is the type of service our mortgage advisors in Kent pride themselves on delivering.
Find an advisor who can offer more than one solution
Because mortgage rates and offers can vary so widely, it's best to work with a Mortgage Advisor who can source products from a number of different lenders. This is in contrast to a mortgage broker at your local bank or building society who are restricted to offering their own products only. Working with a local mortgage broker means you have more options and are unlikely to miss out on more competitive deals.
Excellent customer service
The best mortgage advisors are highly efficient, with a fast turnaround on the paperwork and the motivation needed to contact you at every stage with updates. They're discreet and thorough, and the duty of care they have towards their customers means they'll be able to justify their recommendations if asked.
They make their recommendations based on your individual circumstances, exploring your deposit and repayment preferences, various interest rates, your credit history and other critical information to pin down the mortgage offers you’re eligible for. As such they are a valuable partner in the home-buying process.
Having thoroughly explored your circumstances they'll be able to explain the different deals and types of mortgage available, tell you which ones they think are the best for you, and give you good, clear reasons why they're making the recommendations.
A quick turnaround of the mortgage agreement in principle
When buying a property, speed is often the essence. Delays can mean chains break and buyers drop out. When you secure a mortgage offer there's no hard and fast rule about how long it takes. T But you'll probably need to wait for anything from two weeks to a month from application to the mortgage offer stage, as long as things are straightforward. A good mortgage broker will keep things on track at every stage.
Local and national advice
Local expertise is often invaluable. If you want someone who only deals locally, in your country or region, you should be able to find a suitable Kent mortgage advisor, for example. But a good, reliable Mortgage Advisor in Kent will be able to provide advice nationwide.
Make the right choice
Choose the right mortgage advice from the right person and the whole mortgage process can be more of a pleasure than a pain. Our experienced mortgage brokers at Prospect Tree Mortgages are ready to support you with any mortgage needs you may have. Get in touch by calling 0800 8620 840 or use our online form to get started