Being prepared for your first meeting with a mortgage broker will help you get more from it, which will help pave the way for a smoother mortgage application process.
In this blog, we will go through what you can expect from your first meeting with a mortgage broker so you can ensure you’re fully prepared.
Understanding the mortgage broker’s role and what to expect
A mortgage broker’s job is to match applicants to the mortgage that’s most suitable for them and their circumstances.
They will work as an intermediary between you and the lender. A whole of market adviser isn’t tied to one lender so can access the widest variety of mortgage deals, even ones that you may not otherwise be privy to. With a comprehensive understanding of the current mortgage market, they are well placed to help you secure the most suitable type of mortgage, subject to you meeting the necessary criteria. A good mortgage broker will also help make the mortgage application process much easier.
In your meeting, they will:
- ask you questions to ascertain your goals and current financial situation
- give you information on suitable available options and provide tailored advice
- pass financial documents on to the lender, confirming your circumstances
Gathering essential financial documents
Ensure you have the following documents ahead of the meeting with your broker and bring them with you. These documents include:
- Passport or driving licence
- Recent utility bills or council tax statements
- Typically, three to six months’ worth of bank statements
- Payslips from the last three to six months
- Two to three years’ worth of tax returns if you’re self-employed
- Investment statements
- Current debts, including credit cards or loans
If you’re a company director applying for a mortgage, you’ll need additional documentation.
Your broker will give you a detailed list of any documents in addition to the above, that they’re going to need ahead of the meeting.
