IMB Blog

Making The Most Of Your Mortgage Broker

Utilising the services of a mortgage broker could be the best decision you could make, if you’re in the market looking for a mortgage. Although not all mortgage brokers offer the same degree of service. When choosing your mortgage broker, you should be aware of the advantages and the dis-advantages of choosing wisely. We go through the basics of what a mortgage broker should be doing for you and why it might be a good idea to shop around and be confident that you’re making the right choices for yourself, your family and your wallet.

Things your broker should be providing as standard:

  • All the time you need, ensuring you understand exactly what is going on
  • Detailed explanations of the process
  • Very good knowledge of the mortgage market
  • Insist that your chosen broker provides realistic timescales
  • Communication is key, ensure your chosen broker is available at times that you are
  • Extra mile – ensure your chosen broker is on the same page as yourself

As you can see above this spells out ADVICE. Your chosen broker needs to provide you with quality advice throughout the process. You would be surprised to learn not all brokers hold the required qualifications to be able to provide advice. Some brokers are only able to provide you with basic information and leave the decision making to yourself. This can cause all kinds of issue should you get this part of the process wrong. Ensure your broker is qualified to be able to provide the advice you require, and ensure the firm in which they work for hold the correct permissions with the financial services regulator (FCA) to be able to offer the advice via the firm.

In most cases using an Independent Mortgage Broker can only be a positive thing for you. However, we argue that unfortunately it is not as simple to suggest that all mortgage brokers can offer the same degree of mortgage advice you desire.

We asked a locally based mortgage intermediary for suggestions on how they are able to set their company aside from the rest of the mortgage brokers in their area. The firm is locally based on of Halifax – Yorkshire and they said that they treat all their clients the same, regardless of how big or how small the mortgage is, they look at each client’s individual circumstances and assess their needs accordingly. Although the company is relatively new, they are a forward-thinking company with aspirations to be able to branch out to places like Bradford, Leeds & Manchester. Being a northern based mortgage company also provides the good people of Yorkshire a straight talking 5 stars rated on Trustpilot mortgage intermediary they can trust and rely on to get the job done, in the world of mortgage finance.

The mortgage broker you can trust

To conclude this brief yet informative glimpse into the positives and the pitfalls of using a mortgage intermediary, I would like to quote the director of Independent Mortgage Brokers based in Halifax. “Make your future a reality and make your dreams come true”. “Dare to dream of owning your own home”.

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Based on our research, the content contained in this article is accurate as of most recent time of writing. Lender criteria and policies change regularly so speak to one of our Independent Mortgage Brokers to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisers working for or with Independent Mortgage Brokers are fully qualified to provide mortgage advice and authorised and regulated by the Financial Conduct Authority. All our independent Mortgage Brokers will offer advice specific to you and your needs and circumstances. Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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