Choosing the right mortgage broker can sometimes be the difference between achieving a mortgage offer and not. If you have particular criteria that you believe is more niche, such as adverse credit, self-employed accounts for a limited period, an unusual property type – make sure you speak with your mortgage broker upfront about these things, and ask them if they are experienced in dealing with this.
The Mortgage Company have previously worked with clients who have come from another mortgage broker previously, and have been told that the mortgage amount is not achievable, or the criteria doesn’t fit. We have been able to work with these clients, and in some cases, we have turned this around and provided a positive outcome that they couldn’t achieve elsewhere. It is important that your mortgage broker explains the criteria to you and the reasons why the mortgage may not fit, so that you have a clear understanding of why. It can be worth getting a second opinion from a mortgage broker who has extensive experience in the certain area you may be struggling with.
Another element to consider when choosing the right mortgage broker for you, is to speak to them about how they work – do they need to meet you face to face, do they carry out Zoom calls, can they work evenings and weekends around your work? If all of these points are important to you, make sure you set expectations for yourself and your mortgage broker before deciding to move forward.
Bristol has many mortgage brokers; some are small businesses such as The Mortgage Company, and others are larger corporations with multiple advisers and administrative support. If the personal touch and working with the same person throughout is important to you, then you may prefer to opt for a small business. If working with a larger company is most important to you, then reach out to the mortgage broker and clarify who will work with you throughout the process.
There may be a fee payable for mortgage advice. The precise amount will depend upon your circumstances, and will be discussed with you before proceeding. Your home may be repossessed if you do not keep up repayments on your mortgage.