A mortgage broker is someone who helps their clients make an informed decision about the type of mortgage they want to apply for which will help them buy residential or investment properties.
Qualified mortgage advisers usually operate as mortgage brokers, providing two services under one roof. They will provide personalised mortgage advice based on the client’s needs and preferences and then search the market for the most suitable real-time mortgage options. If the client wishes to proceed and apply for one of the mortgages the broker finds, the broker will help with the application and any obstacles that may arise.
Using a mortgage broker can offer many benefits. They provide valuable guidance that doesn’t just provide clarity and save time but can also save clients money by suggesting specific options that the client may have not known about or considered. This can be especially valuable when the client has a unique situation, such as inconsistent income, bad credit history, etc.
Additionally, some mortgage brokers can access exclusive discounts and deals due to their long-standing industry position and relationships which can also help clients save money. Choosing a local mortgage broker can be beneficial if you prefer to meet with them in person and they may also have a greater understanding of the local property market.
Mortgage brokers are IN…
Statista conducted a survey on first-time buyers to determine the main benefits of using a broker. The top reasons to use a broker from the results were their help in working out what properties are affordable, and their mortgage product recommendations.
