What Does A Mortgage Broker Do?

Get in touch for a free, no-obligation chat about how we might be able to help you.

It's never too early to get in touch
1 Step 1
reCaptcha v3
keyboard_arrow_leftPrevious
Nextkeyboard_arrow_right
FormCraft - WordPress form builder

What Does A Mortgage Broker Do?

Adam Nunn and Jon Porter introduce the company and talk us through the role of a mortgage broker.

What does a mortgage broker do?

Our role is to try and help alleviate the stresses of arranging a mortgage. We explore exactly what you’re looking to achieve, what your requirements are, and then recommend the most suitable lender based on what you’re looking to do.

It’s also about communicating with the lender on your behalf and providing the required documents, because it’s these things that add to the stress of doing it on your own.

What’s the difference between going to a mortgage broker like yourselves versus your local high street lender?

Regardless of the lender, they can only talk about their own individual products and the criteria that their clients have to meet. Whereas we’re trying to find out what criteria you are looking for. We can go to all the different lenders and offer you a range of products.

One of the key things, too, is holding your hand throughout the whole process. It’s not just literally dealing with the mortgage and then saying goodbye. We look after you from the very first meeting all the way through to completion.

But what services does a mortgage broker offer?

It can vary. That’s why it’s important to understand who you’re working with and to choose your broker wisely.

As John said in the previous question, we offer a tailor-made service, which starts from the initial process of understanding what your borrowing is and arranging an Agreement in Principle. You’re then ready to approach an estate agent and you’re prepared to make an offer on a property.

We’ll also offer our insights on what the housing market is looking like, and provide feedback on what you might want to offer on a property when you find one you’re interested in buying.

Do people come back to you for remortgaging or a Buy to Let property?

Yes – it’s certainly not just about the initial meeting and helping First Time Buyers. I’ve been doing this for 20 years now, and I’m still dealing with some of my original clients.

We want to help, advise and guide you, whether it be your first property, a remortgage, or you’re looking to get into the investment world and do Buy to Lets. We take seriously the fact that we’re getting people into a nice amount of debt and the risks involved.

That’s where the protection side comes in – to look after not only them and the property, but the family, so they can stay in the home as well.

Speak To an Expert

Our expert knowledge ensures that we give you access to the widest range of services available in the financial market to find the right advice for YOU.

When should I see a mortgage broker? At what stage in the process of looking at properties and applying for a mortgage?

Basically, straight away, as soon as you start considering it. There’s no point in going out and finding a property that you love, and want to offer on, and then finding out you can’t achieve the mortgage for it. That’s going to be so disheartening. You want to go out ready to offer on the property with a Decision in Principle in hand.

For remortgages, we normally try to touch base with our clients six months in advance. We can then be prepared with what is available for them at different rates and what changes they may need to make for the mortgage based on their circumstances.

Does it cost for an initial consultation or conversation with you?

No. The initial consultation is always at our expense. We want to get to know you and your circumstances and show you exactly how we can help.

We do charge fees, but they only become applicable as and when you’re ready to apply for a mortgage. That’s when you’ve found a property and had an offer accepted or you’re reviewing your mortgage – and whether that’s a remortgage or a product switch – you only pay when we’ve initiated the application for you.

There’s no cost for the initial meeting and any fees applicable will be identified in that initial conversation.

What else do we need to know about a mortgage broker’s services?

Because we’ve been doing this for so many years, we have a really good understanding of market conditions. We try to predict what’s going to be happening in the future. It’s difficult – lots of things are throwing curveballs at us, but we try to advise around properties, prices, rates and the constant change in the market.

We do try to offer an ongoing service. Once you’ve bought a property through us you become an existing client, and we’ll review your mortgage again at the end of your interest rate.

But it’s actually an ongoing service from when you get a mortgage offer. As Jon just said, interest rates are changing all the time and it’s not as straightforward as people might think it is, despite what they’re hearing in the media.

Once you’ve got a mortgage offer, we will keep an eye on interest rates. If they reduce and there’s a more appropriate interest rate for you, we will make sure you get that before you’ve completed on that mortgage.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.

THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST BUY TO LET MORTGAGES.