What is the role of a Mortgage Broker?

A role of a mortgage broker is to guide their client through a new mortgage or remortgage. They are there to discuss the whole process and to give a clear indication on what they can borrow, what their monthly costs are and to find the most suitable mortgage from a wide panel of lenders for their needs too. It’s an all-around service, so getting to know a client is very important.

What’s the difference between going to a Mortgage Broker and your local Highstreet Bank?

Both will offer great service and attractive options, but a high street lender will offer their products within their lending criteria. A broker will compare a range of lenders, from high street banks to online-only lenders. You will be able to compare products, have different lending criteria and speak to one person in the whole process.

Mortgage brokers tailor their service by getting to know their clients and guiding them through the whole process.

What services does a Mortgage Broker offer and How can a Mortgage Broker help?

A mortgage broker is there to be a source of contact for the client. They can liaise with estate agents through to the solicitors and the lenders too.

Mortgage brokers can offer an advised level of service, for example, they look at both mortgages and protection insurances such as life insurance and serious illness protection.
They also help on remortgaging and buy to lets, and with any application, they will look at a wide range of lenders to ensure that you receive the product suitable for your needs.

When should I see a Mortgage Broker?

For any house buyer, speak to a mortgage broker as early as possible. The reason for this is so we can give the client a clear indication of their borrowing amount and the fees involved in the process.

Most estate agents will ask for a ‘Decision in Principle’ which is a certificate a mortgage broker can issue once their finances have been assessed and provide an indication of how much the client can borrow.

You’re based in Hereford but can you help me if I’m based elsewhere?

While we may be based in a village near Hereford, as a broker we can help anyone anywhere in the UK. We can use standard communication such as email or phone, but also virtual calls such as Zoom, Teams etc. and we have helped numerous clients in Scotland, Cornwall and further afield.