Getting the right mortgage broker if you have a CCJ

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A mortgage broker, or adviser refers to someone who reviews the mortgages available to people based on their financial conditions and help them apply for mortgages. They help people conserve time by telling them the lender’s who can accept their application and offer them the best rates  they also advise people on how to improve their credit score and can hasten the application process by taking care of some of the documentation processes. Mortgage brokers save a lot of time for people and have expert knowledge of the mortgage market and have several deals they can recommend to customers will they find exact what they desire to purchase. Below are the benefits of using a mortgage broker  if you gave a County Court judgement.

Advantages of using a mortgage broker

They will offer you some rest of mind as this is a big financial decision you have to make so you need to ensure that everything is eight. Employing their services puts your mind at peace that everything will be handled professionally. You can be able to ask your broker questions about any part if the hiuse-buying process you do not understand.

They will save your time:Comparing mortgages consume a lot of time as well as doing all the paper work. Your mortgage broker will handle this for you and also improve your chances of getting approved.

They have sound Knowledge of unique mortgage situations: This will aid them in offering you the best services and will help negotiate well in your favfavou

They usually have software that help them search for the available mortgage deals in a faster and more thorough way and you reserve the right to complain if the mortgage the broker found for turns out to be bad. You won’t get this opportunity if you get to choose the mortgage yourself. While trying to choose a mortgage broker, there are some important tips you should have in mind.

  1. Search for a while-of- market broker : you should check if the mortgage broker is whole-of-market broker. Whole-of -market broker simply refers to brokers who source for mortgages from all the available places in the market. Some mortgages advisors would recommend that you use mortgage brokers from a specific panel of lenders one major advantage of such kind of brokers lie in the fact that they can tell you about most if the available mortgages and will recommend the cheapest to you, so this ends up saying a lot of money for you.
  2. Make use of direct-inky mortgage brokers. Some brokers are available though brokers while the others are not. You need to apply directly to them without going through a mortgage broker. Mortgage brokers are not under obligation to let you know about these deals but you can ask them to recommend some of them to you as it would be cheaper for you. You can also carry out some searches yourself if you discover that the mortgage broker is not ready to do that for you.
  3. Check the type of broker you want to use- there are several types of mortgage brokers available. Some prefer to talk with customers over the phone while others function as robo-mortgage advisors or self service web services that allow you allows you to do the application yourself online.

Mortgage brokers usually earn commission from their services. They charge a fee which will either be a percentage of the amount of money you want to borrow or a flat rate. They usually outline the fees to cli3nts before the contract, but as a client you need to find out if the broker is a whole-of -market broker as well as how much he charges and the type of services he offers to clients. Before you use a broker, you need to ensure that he or she is authorized to offer mortgage advice by consulting the financial services register. Brokers explain to you the types of mortgages available, as well as the deals a d advise you based on what you need , while giving you reasons why you should go for a particular deal. You can make a formal complaint if you are not satisfied with what you received form the broker. If it doesn’t get resolved within eight weeks from the date you complained, you can make a other formal complaint at their head office.

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FCA disclaimer

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.