With countless lenders, loan types, and complex terms to navigate, finding the right mortgage deal can feel overwhelming, even at the best of times. Working with an independent mortgage broker can help streamline the process and ensure you get the best possible mortgage.
George Square shares just some of the benefits of using an independent mortgage broker when securing a mortgage:
1. Access to more mortgage products
One of the biggest advantages is that mortgage brokers have access to a wider range of products. Many lenders offer deals that aren’t available to the public, including specialist mortgages for self-employed applicants, those with complex incomes, or buyers with lower credit scores, properties of non-standard construction and flats with short leases.
As independent mortgage advisers, George Square has access to whole of market products, which means we can secure mortgage deals with both high street lenders as well as specialist lenders that can often help when others can’t. We also have access to preferential products that are only available through brokers.
Growth in the specialist lending market now means far more flexible approaches are available to borrowers. If you are struggling to secure a mortgage, we can help. Read our blog on getting a mortgage with a low credit score here.
2. Expert advice and support
Mortgage brokers stay up to date with market changes, lender criteria, and evolving regulations. They also take into account more than just interest rates – factors like fees, flexibility, and long-term affordability are all considered for each client on an individual basis.
A good mortgage adviser will also look beyond the immediate transaction. At George Square, we assess our clients’ full financial picture, ensuring the mortgage aligns with their long-term financial goals. From planning for future remortgaging to property investment, we ensure our clients are set up for success.
3. Saving time and hassle
It is well documented that the mortgage process can be time-consuming; it involves a lot of research, paperwork, and negotiation. With so many options available, it’s easy to feel overwhelmed or miss important details. Plus, approaching a lender directly may lead to a decline, often for no apparent reason.
A professional mortgage adviser will handle all of this on your behalf, cutting through the complexity to find the best deal and ensuring you receive a smooth, hassle-free service.
4. Avoiding pitfalls and costly mistakes
Because of the level of detail involved, the mortgage process is full of potential pitfalls; missed deadlines, unsuitable terms, or rejected applications can all cause delays and added costs. A mortgage broker will understand lender requirements and underwriting criteria, ensuring applications are correctly structured and reducing the risk of rejection.
5. Cost-effective
The savings from securing a better mortgage deal can far outweigh the costs associated with using a mortgage broker. For instance, receiving professional advice can lead to lower interest rates, reduced fees, and better overall terms, delivering real financial benefits in the long run.
How we can help
Buying a new house can be an exciting but quite an emotional time. The independent mortgage advisers at George Square can take away some of the pressure involved and help you secure a mortgage that’s right for you. We can also put you in contact with good solicitors, surveyors, and other key contacts.
For a free consultation with one of our mortgage advisers, call 0115 947 5545 or contact us online here.