Local independent Mortage Brokers

 Why get mortgage advice from a broker?

A mortgage is by far the biggest financial commitment most us will ever make.  Your payments each month will be a considerable outlay for most of your life.  The trouble is, mortgages are complex with ever-changing deals. Online comparison sites may be fine for things like car insurance, but you really need the talk the complexities of your mortgage through with a qualified person!

There are thousands of possible mortgage deals available, with different repayment methods, interest rates, fees and hidden penalties, as well as  varying terms – the number of years the mortgage is spread over.

The problem is, most mortgages are provided by Banks or Building Societies but if you speak to them they will want to sell you their own ‘product’ .  Far better to use a good Mortgage Broker who can assess your situation and match you up with a provider with the best mortgage deal that right for your circumstances.

Although Mortgage Brokers earn their living by a commission from the lender whose mortgage they select for you, they should still be able to provide good independent advice and a wide range of different options.  It is a good idea, as well as asking about the rate of interest and fees (e.g. lender’s valuation and legal fees etc) that you also ask the Broker to tell you what fee they will be claiming from the mortgage provider.

The broker should outline the overall cost of your mortgage over the full term – although you are normally free to change lender and remortgage in the near future (some lenders may charge an exit penalty).

Ideally, it’s worth asking a friend or relative to come along to any meetings.  Then assess your options carefully, work out all the costs, and then decide which is the best option for you.

Before purchasing a property you can also get quotes for conveyancing  and  surveys from this website.