For the majority, a property purchase will be the largest financial investment they ever make, therefore having a qualified and regulated professional to give advice and guidance can be invaluable. Whilst it may seem convenient to pop into your local bank or building society to see what mortgages are available, you are only scratching the surface in terms of the products available. An independent mortgage broker will have the option to browse the whole marketplace and find a product tailored to your specific needs and requirements. The buying process can be a daunting one so anything that can take away some of the stress associated is more often than not, well received. With mortgage jargon such as; tracker, fixed and standard variable, having someone to explain you through the process can be a huge relief and help take away some of the stress.Following the MMR ( Mortgage market review) in April 2014 lenders criteria has become far more stringent and many buyers as a result are now struggling, not only to raise the finance they thought they could initially get, but even to get a mortgage at all. In a market as competitive as London, having a firm grasp on the financial side of things could not be more essential, it can also be a determining factor on whether you secure that dream property, particularly if there are multiple buyers interested, so getting your mortgage in place prior to starting your property search is well advised. Some may feel that cutting out 'the middle man' would surely save money as it's one less link in the chain and in some instances this can be the case, particularly if you know exactly which product you want. However, there are many brokers who will not charge you a fee as they will be paid directly by the lender, whilst they also have access to products not widely available on the open market and good relationships with certain lenders giving them the ability to push a deal through. A good broker will scour the market to find the best product for you, often saving you money rather than increasing your costs. "A good broker will scour the market to find the best product for you" Regulated by the Financial Conduct Authority, using a mortgage broker should give you the piece of mind that you are not only in safe hands, but that you get the best advice and best product for you.
