The mortgage market is a highly competitive and crowded space. Getting your mortgage through a Mortgage Broker in London can help you get the best deal for your needs.
What are the benefits?
The benefits of getting your mortgage through a broker can be manifold.
They include getting multiple quotes from different lenders, pre-approval before applying for loans, and helping with the complicated process of buying or selling property.
Businesses that provide brokerage services help individuals buy, sell or avoid foreclosure.
Unsurprisingly, borrowers are turning to professionally qualified intermediaries for advice on their borrowing requirements.
How to find high-value mortgage?
If you are looking for a high-value mortgage. It makes sense to speak to an expert rather than applying online or by telephone. Where you’re unlikely to benefit from independent, bespoke advice.
Technology firms have release data showing that brokers are responsible for arranging six out of ten mortgages in the UK as oppose to the one in five that are arrange through a lender or branch network.
Using a broker has many benefits and it is proven that they are most likely to success in getting the application offer and complete.
London Mortgage Advice Ltd understands from research done by others. That 75% of all mortgage applications arranged through an intermediary went to offer.
And, even more impressively, 85% of the mortgages provided via a broker went through to completion.
London Mortgage Advice Ltd understands also that 27% of bank mortgages. And less than one-fifth (15%) of mortgages arrange by mutual are currently sell through their branch networks.
The research also found a clear difference between banks and building societies as to where their mortgages come from.
Mutual was found to lean more heavily on the intermediary market. With three-quarters of their mortgages being arrange via a broker. In contrast, just 35% of bank mortgages were arrange through a national or London mortgage advisor.
Further benefits of using a broker are the swiftness with which things getting done.
On average, just under one-fifth (18%) of mortgage offers were produce within five days. With banks higher at nearly one-third (30%) and mutual lower, at just over one in 10 (12%). Around three-quarters of mortgage offers (73%) were issue within 14 days.
Lenders, applicants, and intermediaries see time to offer as the key measure of efficiency and customer service.
It will be extremely interesting to see what changes are implement over the next 12 months. The impact these have on mortgage efficiency.
Not only will the offer itself be provided swiftly. But dealing with experts means that you will know pretty promptly what is and isn’t possible. They know who to go to for what product.
The relationship they have built up over time with lenders ensures that you get the best possible deal. That perhaps another broker/individual would not be offer.
Time and efficiency are key to high net worths’ who are usually cash-rich and time-poor.
As well as providing bespoke large mortgage advice, an intermediary can also deal with the paperwork involved in the process.
If you want to avoid applying for a mortgage, you should certainly consider speaking to a mortgage broker in London.