Needing Mortgage Advice?

What is a Mortgage Broker?

Finding the right mortgage for you can prove to be quite a task, especially as it is one of the biggest financial commitments you can make. It is important that you get all the information and the best advice to make sure you are making the right decision for your specific criteria.

Whether you are looking for a mortgage broker in London or anywhere else in the United Kingdom, we can certainly help connect you with the most well-matched broker to fulfil your mortgage requirements. By allowing us to do the hard work in finding you the right broker, we will save you a lot of time and energy.

Each mortgage case is different and should be treated as such. We can help with this!

We’ll come back to this later in this article.

So, what does a Mortgage Broker do?

A mortgage broker is an individual or company that specialises in offering advice on mortgages. They are able to arrange a mortgage for you between yourself and the lender; in a nutshell, they find you the best mortgage terms and rates. One thing that is often forgotten is that a mortgage hunter works for you, they are obligated to recommend and validate the mortgages that are most suitable to your specific needs.

A great mortgage broker will look at the market as a whole to find you the best deal rather than looking at one provider. In addition to having to be formally qualified and licensed where they practice, a mortgage broker has valuable market knowledge and experience.

Why use a Mortgage Broker?

Mortgage advice from a trustworthy broker can be a vital service in your search for the right mortgage, here are some reasons why!

The mortgage industry is fast paced and ever changing; with fluctuating interest rates and mortgage deals coming and going, this can be very confusing and taxing. Having someone on your side with a duty of care is vital in navigating the industry, especially when that person has exceptional understanding of the mortgage industry. They can clarify the range of deals that are available to you and point you in the right direction, saving you a lot of legwork. As well as this, they also have valuable relationships with lenders, this means they know where to go to for a smoother application process, especially with the strictness to pass the mortgage eligibility criteria.

1. Advice/ Expertise

2. Best possible deal

The reach a mortgage broker has is invaluable; there are numerous lenders that work exclusively with mortgage brokers whether they are based in London or anywhere else in the UK, often because of the specialised mortgage products they offer. It is important that you get a mortgage broker so that you are fully aware of your options with regards to your specific criteria, rather than just looking at interest rates. A mortgage broker can find you the best possible deal with the knowledge and relationship they build with you and your case, no matter how complicated. Which very often can end up saving you thousands!

3. Liaising with third parties

Mortgage brokers often have connections with the varrying people that you will need in your mortgage hunting journey. This includes conveyancers, solicitors, building inspectors and much more that they will have long trusting relationships with so you can feel at ease that the people you come across are experienced and can be trusted. They can also liaise with Estate agents to make your property transaction as smooth as possible.

4. More than just a Mortgage

A mortgage broker can do more for you beyond your specific mortgage needs, they offer any related life insurance, payment protection and even building and contents cover. This is highly advisable to look at when taking out a mortgage as there are numerous scenarios that you might not think of that you need to be insured against. A mortgage broker can take you through these, they make sure you are fully protected in the event of:

  1. Death
  2. Redundancy
  3. Critical illness 

Types of Mortgage Deals

Whether you are looking into taking out a Purchase, Remortgage or Buy to Let mortgage, there are two main types of mortgages to take into account:

  1. Fixed rate Mortgages
  2. Variable Rate Mortgages

Fixed Rate Mortgages

A fixed rate mortgage is where your interest rate stays the same for an agreed period of time, this can vary from one to even ten years. Regardless of what happens to interest rates, the interest you pay will stay the same for this period. This means you will know the exact amount you need to pay each month, offering great peace of mind for a vast number of homeowners.

The longer your fixed rate mortgage deal lasts, the higher the interest rate will be as mortgage lenders are unable to predict what will happen in the market. Taking a fixed rate mortgage gives you security against the market as it means no matter what happens your rate will not go up.

85% of mortgages listed on Moneyfacts (Comparison Site) in February 2019, had fixed rates!

Variable Rate Mortgages

A variable rate mortgage is where your interest rate can be subject to change at any time, moving up and down as the UK economy changes, this type of mortgage comes in a variety of forms. The three categories of variable rate mortgage deals are; standard variable rate (SVR), trackers and discounts.

Standard Variable Rate (SVR) tend to follow the Bank of England’s base rate movements very roughly, they can be anything from 2% to 5% points above the base rate. This often varies massively between each mortgage lender. Rates can move for both economic and commercial reasons, making it difficult to predict when the lender will move their rates. SVR’s usually come without an early repayment charge, meaning you can pay back the mortgage in full at any time without price.

Tracker deals move in line with the Bank of England’s official borrowing rate, making them quite popular in times of falling or lower interest rates. These give you some sort of certainty in the sense that only the economic changes affect the changes in your rates.

Discount deals refer to a discount on the mortgage lenders standard variable rate (SVR), these often last for a short period of time with few lenders offering longer or even lifetime options.

It is so important to have an experienced mortgage broker helping you to navigate these options; not only to find you the best deals, but also to give you a full understanding of each time or mortgage and the one that would be of greatest benefit to you. Before tying yourself to any deal, you need to consider all factors, which can be quite a task so why not find a qualified and knowledgeable mortgage broker to do most of the work for you?

Mortgage Calculator HERE!

Lenders Direct vs. Mortgage Brokers

You may be thinking, why don’t I just go directly to a lender myself?

Our answer to this is simple, why would you take a chance when there are so many passionate mortgage brokers wanting to take on your specific case?

Going to a lender directly means you are giving yourself an awful amount of work to do, work that can prove quite straining. Dealing with the ever-changing markets, the vast amount of deals by so many different lenders that can be so hard to choose from. YOUR mortgage broker will be able to deal with all of this and with ease as they are experienced to do so.

A mortgage broker does more than just submitting the application, they look into your specific criteria and find the best possible deal for you. They liaise with a number of third parties in order to make your mortgage process as smooth as possible for you. They take you through insurances that you may not know you need for your property, which can go a long way in saving you thousands of pounds if you are not prepared properly.

A mortgage broker is able to give you a completely impartial recommendation, which is invaluable. There are also numerous mortgage lenders that work exclusively with mortgage brokers. This means by going to mortgage lenders directly, you are cutting yourself off from numerous lenders that may offer you even better deals with your criteria in mind. This could end up saving you thousands.

In a nutshell, a mortgage broker can save you money, time and stress.

Sounds like the only viable option to us!

Top Mortgage Lenders List

Our brokers work with some of the top lenders in the United Kingdom.

Here is a list of just a few:

BarclaysHSBCHalifaxAccord MortgagesCoventry Building Society MortgagesDigital MortgagesPost Office MortgagesClydesdale MortgagesLloydsSantanderNationwideRoyal Bank of Scotland (RBS) 

What We Do?

So, you’ve decided that finding a mortgage broker is the right step for you?

Great, that’s where we come in!

At First Marketing Agency, we act as the middle man, connecting you to the best mortgage brokers for you. We deal with many award-winning mortgage brokers who work with the top mortgage lenders in the United Kingdom. Many of our top mortgage brokers will offer you fee-free advice and still endeavour to get you the best possible deal.

Our priority is to make sure that we point you in the right direction, taking into account your specific criteria. We make sure the mortgage broker we recommend is able and willing to make your mortgage process as smooth as possible and of course tailored specifically for you.

Our Mortgage Brokers

Having worked in mortgage services for numerous years, we have developed a large client base of award-winning mortgage brokers in our network. Our service to you is free, so we are able to impartially find you the best mortgage broker suited specifically to you without any conflicts of interest.

Each mortgage broker in our network pays a fee, meaning you only come in contact with people who are keen to deal with your case. This means we are able to filter the mortgage brokers we recommend making sure we are left with only the elite, which guarantees that you only end up working with the best of the best. Therefore, we are so highly valued and have been able to create an unparalleled network of mortgage brokers.

Whether you’re looking for a mortgage broker in London or any other part of the United Kingdom, we can help with that. Taking into account your specific criteria, we find organise the best mortgage broker for YOU!

If you are ready to act, get in touch with us!

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