What does a mortgage broker do that you can’t? Moreover, just why should you purchase their services whenever there are already plenty of other costs when moving home or remortgaging? If you are asking yourself these questions, it could be more than tempting to trim out the middleman. However, you might think twice.
Mortgage advice, from a reputable Mortgage broker, is a priceless service – and here’s why:
An important thing to comprehend is that when you receive home loan advice, your large financial company has a duty of care to you. They have to recommend a suitable mortgage and also justify why the particular mortgage they have chosen is right for you. If their advice is not up to scrape, you can complain and be compensated.
On the other hand, if you go directly to a high street mortgage company, don’t take advice, and end up with a home loan that later becomes unaffordable, you might not have much legal recourse.
A Home Loan Broker Is Qualified
There’s a lot to think about when choosing the right home loan. It is not as simple as just opting for the cheapest fixed or tracker rate home loan you can find!
Mortgage brokers need to be qualified to give you mortgage advice, whereas you might not exactly get that kind of guarantee if you band up a lender’s call centre. New regulations mean that all call centre personnel … [Read the rest]