Estate Agent Mortgage Advice in Essex
In the beginning of your mortgage process, if you choose to use a large estate agent, they will likely try to persuade you to use their in-branch Mortgage Advisor and their recommended conveyancers. You are under no obligation, however, to use their in-house advisor and you can still get the same or better deals from elsewhere! Unfortunately, First time buyers in Essex are often the ones that get caught out and end up being tricked into using services that they don’t want or need.
Searching for your own Mortgage Advisor in Essex could ultimately be the best path for you to take. An estate agent’s advisor will be biased to only their products, whereas a dedicated mortgage broker in Essex will be able to give you more perspective of each side.
If you do your research and still end up back with your in-house advisor, that’s your call and is far enough, though you should always remember that you have other options you can choose from, should you want that.
Our view consists of both transparency and efficiency, as we want to provide the best possible customer experience and also the best advice for your individual financial situation, whilst still delivering both a fast & friendly mortgage advice service.
Sales tactics of estate agents
If you do go down the route of using your estate agent’s in-house mortgage advisor and conveyancer, you need to take a look at where the cost of their service is coming from. They could be charging you for their services without asking you and adding it to additional fees, with the hope that you don’t notice.
Speaking with a trusted mortgage broker in Essex will eliminate these concerns, as you get exactly what you paid for, no strings attached. Your dedicated advisor will gladly break each cost down for you and relieve any uncertainty you may be feeling.
Even though it is a highly illegal tactic, if you choose not to take the estate agents in-house mortgage advice, they may refuse putting your offer forward on a property you are fully capable of being accepted on. For example, you could be using a broker and they may push another offer to completion over yours, simply because you aren’t using their services. Again, please note that these situations are illegal.
Estate agents may try even more underhanded tactics by doing things like trying to charge you with extortionate in-house conveyancing fees. Even with a straightforward purchase, they have been known to try and charge you with fees upwards of £1,500. If something like this happens during a purchase, you have full rights to ask them where they have got these prices from and for them to provide a full breakdown of where the costs have come from.
A trusted mortgage broker in Essex only has your best interests at heart, meaning a lot of the problems caused by going with an estate agent can be avoided.
How can I get a Mortgage in Essex?
Finding the right Mortgage Advisor
Trying to choose the right Mortgage Advisor can be hard; but is there a way to make it easier?
Sometimes you will have a specific case that might require specialist care and attention. An estate agents in-house advisors will only care about making money off you. When you Get in Touch with a mortgage broker in Essex, you can be matched up with an experienced advisor relative to that field.
An example of this, is that in our company we have specialist buy-to-let mortgage experts who are able to help out buy-to-let enquiry is presented to them. Once you’ve had a free mortgage consultation and an agreement in principle (often turned around in 24 hours or less), you could be linked with your perfect advisor and get started on the mortgage process.
We have been providing mortgage advice for years now and have been helping struggling customer take that leap into the mortgage market for over 15 years. You can find out more about our expert mortgage advice service by looking at our incredible customer reviews.
Getting behind the wheel to start your own mortgage journey
If you would rather take matters into your own hands, you should know that it’s perfectly okay to do so. Most of the process can now be done online! Along with the use of price comparison websites, you may be able to find yourself the best deal for what you need.
The benefit of doing things online is that you have the chance to save money on additional fees. As long as you are confident in what you are doing and know what you are looking for, you could complete the process quicker than initially anticipated.
One thing to bear in mind is shopping around and comparing online may be a little trickier than you think. You will need to make sure that you’ve found the best deal before agreeing to something. Here are some things you should be careful of when choosing to find a deal by yourself:
- Are you able to match the criteria for the “Best Buy” rates? Check before applying, as if you are declined, this could damage your credit score.
- Have you conducted proper research? Many of these comparison sites earn a commission from lenders and where there is no commercial relationship with a lender, they may choose to exclude various deals that could benefit you.
- If it goes wrong, you might end up losing some money. Be aware of valuation and applications fees if you are not 100% certain that you have been accepted. You will not be refunded these fees.
- It is completely your responsibility to progress your application and also sorting out any problems if you encounter any problems down the line.
Should I use my Bank or a Mortgage Broker?
Using your bank’s Mortgage Advisor
Making an appointment with your bank’s Mortgage Advisor isn’t exactly a hard task, however, it may not be the right choice for you to make. If you do opt to do this, here are a few things you should keep an eye out for:
- They won’t shop around for the best deal; they can only offer their own deals; some of their deals may not suit you at all! They also won’t tell you about other mortgage lenders rates that might be cheaper!
- You may find yourself being declined, even if you’ve been a longtime customer of that bank. We’ve seen customers of 20 years still get turned away for “lack of information”.
- There can often a long waiting list for a mortgage appointment, with some lenders making customers wait around 6-months for a mortgage appointment.
- Your bank may have inexperienced advisors on their team and therefore are unable to work on more complex cases. This is why many people get declined, as instead of solving the issue, banks instead choose to just not work with those customers.
Using a Mortgage Broker in Essex
Getting in touch with a mortgage broker that is not associated with the estate agent ensures you have someone working purely on your behalf as an inexperienced First Time Buyer in Essex. This also reduces any conflict of interest risks.
The process will be kept between you and your designated Mortgage Advisor in Essex. We have no external ties to any building societies, banks or estate agents, working solely for you. Whilst we have lenders on panel, they’re purely there for the deals they offer, allowing us to find the best deal for your personal circumstances.
Our team of advisors and administrators only have your best interests at heart. Managing Director Malcolm Davidson is here to explain the pros & cons of using a trusted mortgage broker:
Date Last Edited: December 6, 2023
