Mortgage Brokers Southport

There are a number of mortgage brokers Southport has to offer and you shouldn’t take the decision of who you work with lightly. A Southport mortgage broker company should be able to offer you the exact advice you need to not only secure your next property but also be there for you long term, a good mortgage broker will be able to advise you for years to come on all aspects of the finance surrounding your mortgage.

Which Southport Mortgage Broker to Choose

Southport Mortgage Broker – What You Should Look For

The intention of any good mortgage broker is to form a longer term relationship with you. The reason for this is because as life evolves so do your personal requirements and life goals. Your mortgage and getting the best deal to suit your circumstances should be one of these goals, many people sign up for a mortgage and never change it within the full term but by using a reputable mortgage broker they can make you aware of how you can be saving money or receiving other great offers such as cash back for signing up to a new deal that you otherwise would never have received.

For this reason a good mortgage broker will be in touch with you throughout the term of your mortgage with helpful advice.

A mortgage is a big deal! It is arguably one of the biggest financial deals you will ever sign up to in your life as is the way with most people. This is why you should seriously (and in the case of insurance – legally) take out the best financial protection that you can. This is another area that a good mortgage broker can help you with – advising on the best protection options on the market that can accompany the deal that you take for your mortgage.

Some mortgage brokers are better than others and you should ask (or be told at the outset) if the broker has whole of market access or is restricted to a few lenders. Some brokers are restricted to particular products and this limits the options available to you as the client.

Mortgage Broker Fee or Commission?

The amount of fee your broker should be taken into account too, some brokers don’t charge a fee and instead take commission from the final deal. Be sure to check with your chosen broker before deciding to go ahead, once the final figures hit your bank account you’ll be glad that you did!

Reasons For Taking Mortgage Advice

First Time Buyers

In this day and age mortgages are more complex than ever and getting onto the property ladder is a lot more difficult due to the price of housing. But there are options available to you and a good mortgage broker will be able to find you a great deal.

Buy To Let Mortgages

Landlords are not exempt to help from a mortgage broker, getting the right mortgage deal (and remember a good broker will work with across years rather than just find you the first initial deal) is something that as a business decision you should revisit often. Working with a good broker will help you find the best deal so that you can make the most of your investment over time.

Remortgages

Getting a better deal for your mortgage is something that we recommend you do when it makes sense to do so, it’s not simply about getting the cheaper mortgage, there are payment breaks, cash back offers, reward incentives and more. Releasing equity too is something that a lot of people remortgage for and this is a good time to reinvest your equity into perhaps making a good investment for future income, a good mortgage adviser will be able to help you with all aspects of this decision and it’s one that we commend you for taking.

Home Movers

Most people move home at least once in their lives, whether you are downsizing or moving up to accommodate a larger family it’s important that a mortgage be found to suit your personal circumstances.

As Well As The Topic Above A Mortgage Broker Can Advise With:

  • Mortgage protection
  • Bad credit
  • Self employment
  • Help to buy and other Government schemes

Straightforward Mortgage Advice

It’s true that choosing a mortgage and moving home generally is one of the most stressful things that a person can do throughout their whole lives. If you decide to go with an online comparison site or to visit a high street chain you take on some of that stress that in truth you could have avoided. Mortgage brokers know the market and the industry surrounding moving home, it makes more sense to let them deal with the stress of brokering a mortgage on your behalf for you, take that weight off your shoulders and at least you will know that this is one less thing to worry about.

Communication Is Important

Even though most mortgage advisers do a good job of finding a good mortgage deal it can be somewhat stressful and frustrating if you don’t know where things are up to. This is why a good mortgage company will keep you informed every step of the way. You should know what is happening at the current point of the process and understand what is due to happen next. You will be expected to undergo a discovery phase when you first meet your broker and you will be expected to supply certain supporting evidence that will be submitted with your application. This is when your broker should chat to you and explain the process and what is likely to happen and when, as well as this initial explanation you should also receive regular communication to inform you of progress and if there are any blockers.

Professional & Friendly Service

Of course your broker should be an absolute professional but it also helps if they are down to earth and friendly too. If you get along with your broker then it just helps smooth the process that little better. There are broker who can come across as a bit cold and “facts and figures people”, this is fine because they will still probably get you the deal that you need but as we’ve described earlier in this article you ideally want to work with the same company for years to come and if you don’t get along with them, why would you want to?

Testimonials

Most websites will show testimonials from previous customers. It is important to understand that these will have been cherry picked and always positive and that is why you should take these with a pinch of salt so to speak. Google is your friend here, do a simple search for the company name followed by “reviews” and see what people really think. There are plenty of people who will leave a review independently of the company on sites such as Yelp and in Google Reviews that the brokering firm do not control and it is more likely that these will be a more accurate reflection of customer satisfaction rate shown on their website.

People Commonly Ask These Questions:

Should You Choose One Of The Local Brokers Or Look Further Afield?

Whether you prefer to meet your broker in the flesh or not is up to you. Some people do prefer to meet their adviser simply because it is more personal, you can read their body language better and communication on the whole feels a lot better. But that’s not to say you need to do this, it’s perfectly normally and rational to deal with your broker via phone and email and it really is just personal choice on how to proceed. There are positive and negatives for each side of the argument, for example, just using a brokering company just because they are local doesn’t mean that they are the best company you can work with, as we’ve mentioned in another part of this article it is important that you do your research first, Google for the company and look for reviews from previous customers to find out what they thought of their service and make an informed choice rather than going with the closest broker to where you live. That’s not to say that a broker in Southport is not better than perhaps one you will find in London, Liverpool or Manchester (for example) it just means that you know understand up front what you are getting into.

Some Local Southport Areas Commonly Covered:

  • Southport
  • Lancashire
  • Tarleton
  • Hesketh Bank
  • Longton
  • Burscough
  • Rufford
  • Much Hoole
  • Churchtown
  • Banks
  • Formby
  • Ainsdale
  • Ormskirk

Can You Get A Mortgage On A Pension?

Yes you can but not all lenders will do it. The answer to this question depends on where you are up to with regard to retirement, it is more difficult to get a mortgage if you have already retired and this is purely because of the affordability risk factor and nothing really to do with your age. It is because your mortgage repayment will come from your income which unless you have investments and money coming in from other properties your primary income is likely to come from your pension and this has to stretch to being able to safely pay your repayment each month.

There are a number of other factors to consider too and benefits that you may not be aware of, in fact we’ve written a full post full of advice on it which you can read here:

How To Get A Mortgage With No Deposit

100% mortgage don’t really exist anymore and the ones that do might be very tricky to obtain. There are still options though. The prices of housing these days has made it incredibly difficult for people to get on the ladder in the first place so really the only option you have is to pull together as much of the money as if possible and to make the remainder up a different way. We’ve covered this in more depth here in this article:

 

How To Get A Mortgage On A Low Income

The beauty of a Southport mortgage broker versus a high street lender or worse still an online comparison website is the sheer choice of mortgages available, many of which never see the light of day to the public and are only made available to brokers. You may have a low income but good credit, you may have a lump sum of money set aside as a deposit or you may have neither but still want to own your own home. In any of these circumstances it’s probably best to speak to a mortgage broker who understands the market and has access to deals and knowledge of what is required to get it without you having to take on all of that stress and time consuming research yourself. Here’s our article where we look at this in more depth:

 

What Are The Different Types Of Mortgages?

Once upon a time mortgage came in very few flavours – interest only, endowment, capital repayment. These days the market place is a lot more complicated and diverse and it caters to the wide audience of borrowers who come from all types of circumstances. At it’s most basic level a mortgage lender will simply assess the risk that they undertake when lending you the money. If you have a good track record for repayments including a decent credit score, are able to prove a stable income and project forward to a negative turn of events which would affect your ability to temporarily repay your mortgage payments and have the ability to cope with that situation then there is a lender for you. Even if you don’t neatly fit into one of these boxes there are still lenders who will work with what you have, the key is to know what deals are available and where to look for them. That is where a mortgage broker earns their fee.

We covered this topic (what are the different types of mortgages) in more depth here in this which you may find useful:

 

How To Get A Mortgage With Bad Credit

Worried that your credit score will affect your ability to get a mortgage? It’s a justified concern and we’d love to tell you that you shouldn’t worry but that would be too easy. Instead our advice is not to worry because that is the job of your mortgage broker!

You may think that by using an online mortgage comparison website or by visiting your local bank or building society that you’re doing yourself justice in getting a good mortgage arrangement but the truth is you’re not.

A good mortgage broker will have access to the whole of the mortgage lending market and experience of how to get a mortgage for people who have bad credit and this is the route that we recommend you take. We have decided to show the best brokers in this website and we’d love it if you used our recommended companies but of course we’re only here to guide you, ultimately it is up to you to decide who to go with. It is our wish that there is enough information on this website that can offer you enough information to do so.

We covered the topic of how to get a mortgage with bad credit here which we hope you will find useful:

 

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