The mortgage broker you choose will significantly impact your mortgage application process. Finding the right mortgage broker or adviser can significantly impact your mortgage application process. A good one will make the process smooth and could save you time and money by finding you the right deal.
Here are some steps you can take to help you find the right mortgage broker:
1. Check broker reviews from previous and existing customers. Testimonials can provide insights into a broker’s reputation and customer service. You should also ask friends and family for recommendations, ask about their experience, and ask whether they’d use the broker again.
2. Remember to check that the mortgage broker you choose is regulated by the Financial Conduct Authority (FCA).
3. Compare the fees associated with each broker on your shortlist; some may come with large fees, whereas other mortgage brokers, like us, won’t charge you anything. All mortgage brokers must be upfront with you and clearly outline any charges and their commission before entering into a contract on your behalf.
4. Find out how quickly they can start working on your application. Ask for a suggested timeframe for the completed mortgage to evaluate this against your expected timeline to complete your purchase. Remember, they can control when they start working on your case but can’t necessarily control how long the application takes. This will depend on the lender, but your broker should be able to advise on potential timescales.
5. You must also trust your broker. Remember, you’ll be sharing personal information and financial details with them. Do you like the way they talk to you? Do you find the advice they’re giving you helpful? Does it feel like they’re doing everything they can? And is their advice tailored to your needs? If yes, then great. If not, you may want to consider looking elsewhere.
