Have you ever thought of using a mortgage broker in Essex? Well, you may not realise it initially but the fact is there are some good reasons for it. Although, it is quite possible to proceed by directly contacting the lender, most people prefer dealing with a mortgage broker.

What Are The Pros & Cons Of Using A Mortgage Broker?

People often consider it a great chance to save money by not hiring a mortgage broker. It seems a cost-effective idea to proceed with everything on your own.

So you may also be one of those who prefer going directly to the Bank or Building Society. Another pro that was previously in the minds of the people was that “the Bank Manager knows my finances inside out”, although this changed when credit scoring was introduced.

It is also true that some lenders have various mortgage products only for the people who directly reach out to them. The main intention behind such ideas is to attract the consumers directly and grab their attention with exclusive offers.

Ultimately, it serves as a great tool to spread the business. The interesting part is that it is equally enticing to speak with a mortgage broker as well. Some offers can be found only through a mortgage broker.

From 2014 onward, it was not possible for the lenders to sell mortgages to anyone on a non-advised basis. At that time, it was a common perception that non-advisors were forcing their advice on the customers and not letting them benefit from consumer protection benefits that should come with speaking to a professional mortgage advisor in Essex.

There’s also the fact that taking an appointment with a bank can sometimes take months to happen. A mortgage broker in Essex can often get you booked in within that week.

Now you can easily understand how these kinds of issues gave rise to the importance of mortgage brokers and diverted the minds of the people towards them. As a result, more and more applicants started relying on the mortgage brokers and were quite willing to pay their fees.

Now they had more trust for the mortgage brokers who are often able to offer their services the same day, like ourselves. We are always ready to help you, so get in touch and we will put you through the qualified mortgage advisors either immediately or within the same day if we can.

Handling Difficult Cases

You might be wondering: what can be the reasons that make some mortgage applications far more difficult than they should. So let’s have a look at some of the examples: 

  • The applicant has the poor credit history  
  • They are self-employed and the income is not fixed 
  • The deposit source is mixed that contains both gifts as well as the savings 
  • They want to keep their current house and want to buy another 
  • Zero hours contracts of the contract workers
  • And the most important is affordability 

In the past years, it was much easier for the lenders to get the competitive edge by just presenting more enticing offers than their competitors. But it is not as simple now and the thing that distinguishes one lender from the other is the lending criteria.

To make all this easier, all you need to do is to discuss your situation with an experienced and professional mortgage broker and ask them whether they encountered a similar situation in the past or not. After a lot of research and hard work, a mortgage broker will hopefully be able to help you through and recommend the most suitable mortgage that matches with your budget and does not break the bank.

Here it is worth mentioning that even if the application is simple, we have more experience and knowledge that will surely help you in getting the most appropriate deal. For example, we have a professional team of mortgage advisors in York that will guide you about other professional options and services such as solicitors. When you keep yourself in touch with us, we will also update you about the surveys and protection information available to you.

Responsive Service

Our distinguishing feature is that we are far more fast and responsive compared to the other mortgage brokers. The biggest reason why customers often need the mortgage help is that everyone nowadays is very busy and needs someone who can lift off the weight. Our mortgage advisors will do that for you quite smoothly and you will definitely appreciate the benefits of having an expert on board.

Ready to discuss your mortgage plans? Feel free to Get in Touch with your specialist mortgage broker in Essex. We are available 7 days a week, to help you out in finding the right mortgage deal. 

We cover Essex and surrounding areas: Mortgage Broker in Chelmsford – Mortgage Broker in Brentwood – Mortgage Broker in Southend-on-Sea

Date Last Edited: September 25, 2024