Why Use a Mortgage Broker? Expert Advice from Kerr & Watson
When it comes to securing a mortgage, you may wonder whether to go it alone or enlist the help of a professional mortgage broker.
With the complex market of mortgage products, lenders, and ever-changing interest rates, having an expert guide you through the process can make a significant difference.
At Kerr & Watson, we pride ourselves on offering expert advice that is tailored to each individual’s financial circumstances.
For many, buying a home is the largest financial decision they will ever make. With such a substantial investment, the process of obtaining the right mortgage can be daunting.
Mortgage brokers are here to simplify this process by offering access to a range of mortgage products that best suit your needs.
But why choose a mortgage broker over going directly to a bank or lender?
What Does a Mortgage Broker Do?
A mortgage broker acts as a go-between for borrowers and lenders. Rather than approaching individual lenders yourself, a broker will assess your financial situation, gather documentation, and search the market to find the best deals that match your circumstances.
Here’s what you can expect from a mortgage broker:
- Expert advice: Brokers stay up-to-date with the latest mortgage deals and regulations, offering expert guidance.
- Access to multiple lenders: Brokers have access to a wide range of lenders, some of which offer exclusive deals that you wouldn’t find on your own.
- Tailored options: A broker can recommend a mortgage product that aligns with your financial situation and future goals.
The Benefits of Using a Mortgage Broker
Knowledge and Market Access
Mortgage brokers are professionals who specialise in the mortgage market. Unlike going directly to a lender, a broker has access to a variety of mortgage products across multiple lenders.
At Kerr & Watson, our brokers continually monitor the market and have access to deals that aren’t available to the public, including those with exclusive rates.
Time-Saving and Stress-Free
Searching for a mortgage on your own can be time-consuming and stressful. There’s a lot of jargon, paperwork to manage, and lenders to compare. A mortgage broker can streamline the process by doing most of the legwork for you. This means less time spent researching and more time focusing on other aspects of your property journey.
Personalised Advice
Every borrower’s financial situation is unique. A mortgage broker offers advice tailored to your specific needs, from first-time buyers to those remortgaging or purchasing a buy-to-let property.
At Kerr & Watson, we ensure that your mortgage advice is customised to your goals, ensuring that you get the best deal possible based on your circumstances.
Potential access to Exclusive Deals
Some lenders offer mortgage brokers exclusive deals that are not available when applying directly.
This means that, with the help of a broker, you may be able to secure a mortgage with better terms or lower interest rates.
Find out Your Options
Common Concerns About Using a Mortgage Broker
Fees and Costs
Some people worry about the cost of using a mortgage broker, but in many cases, the time and money saved by finding a better deal outweigh the broker’s fees.
Kerr & Watson provides transparent pricing, so you know exactly what to expect from the start.
Can’t I Just Go Directly to My Bank?
While it may seem easier to approach your bank for a mortgage, going directly limits your options.
Banks offer their own products, meaning you might miss out on more competitive deals, or you may not meet their individual criteria for the mortgage.
A mortgage broker provides access to a much wider range of lenders, giving you the best chance to find a deal that truly suits you.
When Should You Use a Mortgage Broker?
The best time to use a mortgage broker is at the start of your property search. This allows your broker to get a full understanding of your financial situation and find the most suitable mortgage options early in the process.
Whether you’re purchasing your first home, moving house, remortgaging, or buying an investment property, starting with a mortgage broker can save you both time and money.
If you have a complex financial situation, such as being self-employed, having multiple income streams, or a less-than-perfect credit score, a mortgage broker may be particularly valuable.
They can consider lenders that may be more likely to approve your mortgage application if you do not fit criteria of the high street.
Conclusion
Using a mortgage broker offers numerous benefits, from saving time and money to accessing exclusive deals and receiving expert advice.
Choosing Kerr & Watson means that you’ll receive personalised service, tailored to your financial needs and goals, ensuring that you get the best mortgage deal available.
If you’re ready to explore your mortgage options, don’t hesitate to contact Kerr & Watson today.
