A question we get asked a lot! You will know that the majority of high street banks offer mortgages directly to their customers and have mortgage brokers on hand to guide you through the process. So why would you use a broker instead?
- What does a broker do?
A mortgage broker, or adviser, is someone who will review the mortgages available to you based on your own personal circumstances and apply for one on your behalf.
- Why use a broker & not go direct to the bank?
- They can save you money
- Often your options with your own bank will not be the cheapest, most cost-effective product available for you, and using a broker with access to thousands of products could save you money in the long run.
- They can save you time
- Going directly to your bank or directly to another lender means that you’re only going to get advice about the products that bank offers. If you spoke to every lender that we have access to, it could take you weeks to get all of the advice and information you’d need to find the most cost-effective deal for your personal circumstances.
- We do all of that for you. In our initial free consultation, we will take all of your information and assess your personal circumstances. Based on that, we will then search our panel of lenders and come up with a bespoke tailored recommendation of the best products available for you, at the latest, usually within 24 hours.
- We have access to thousands of products and often exclusive broker-only and network-only deals that you wouldn’t be able to get by going direct.
- Extensive knowledge of the market
- If 2020 has taught us anything, it’s that nothing is certain and that’s definitely been the case in the world of mortgages. Things are changing on a daily basis with lenders and their criteria as to whether they’ll accept your income. It’s our job to know which lenders will accept what so that you don’t waste your time with those that won’t consider your situation.
- We have extensive knowledge of the mortgage market and can recommend the right lender for your personal circumstances. Just because your own bank has said no, doesn’t mean that all of them will.
So, if you want to someone else to do all the hard work for you and save you time, effort and money, with all the knowledge required to find you the best fit for you, use a broker!
It’s a no-brainer!
Here at Stonebrook Mortgages, our aim is to make, what can be, a daunting mortgage process as clear and stress-free as possible. We will be here to answer any questions, and deal with the process for you at every stage, from application to completion, whether you’re buying a property or reviewing your current mortgage.