3 Factors in Finding the Right Mortgage Broker in 2020

Wesley Ranger • 16 July 2020

With the UK real estate market exploding in recent years and attracting buyers to make investments, it’s easy to see why the mortgage industry is having a similar experience.

Today, one could expect to see at least a few dozen different providers, big and small, within a single area. Although it may be great to have more service providers that can help aspiring homeowners find the best plans for their needs, it can also be challenging.

Given the sheer number of available professionals in today’s British mortgage market, you probably have one question in mind: “How can I find the best mortgage broker for my needs?”

Why worry about choosing?

Similar to any highly-competitive market, the mortgage brokering industry is filled with options that are worth working with, but it’s also packed with “professionals” who will get you nowhere.

When you’re making a significant investment, it’s clear that working with a dependable broker is vital for not screwing yourself over in the long run. While each available service provider comes with different pros and cons, there are professionals that are guaranteed to provide better services and lower fees than others. In essence, this reality shows why you should choose with the utmost care and research accordingly before signing a contract.

As confusing and complicated as it may seem to find the right option out of the thousands available in the UK alone, the truth is far easier than you think. As long as you get a push in the right direction and brush up on all the necessary tips, you’re bound to find the perfect match in no time.

All you need to know

Finding the best mortgage broker to best serve and suit your home buying needs is all about watching out for key attributes and traits when browsing through different options. If you’re looking to find a dependable broker that will fetch you the best bargain on your repayment and yield the best experience possible, here are three factors to watch out for:

1. They are backed by a significant amount of positive reviews

Above all else, the biggest sign that you’re onto a good broker or a bad one is whether or not they have good customer reviews from past transactions and partners.

Thanks to the Internet and social media, all you’ll ever need to know about a mortgage broker’s service quality can be found with a quick search on the web without any risks. Although the reviews posted by the broker themselves may not necessarily be dependable because they cherry-pick them, you can verify your hunch by searching a bit deeper!New paragraph

2. They have a good set of qualifications and certifications to their name

In most cases, a dependable mortgage broker—such as Willow Private Finance—will always have the necessary qualifications from reputable certifying bodies. Accreditations such as a Certificate in Mortgage Advice and Practice (CeMAP) from the FCA and other certificates and licenses from seminars and courses are always defining factors worth watching out for!

3. They can provide you with flexibility

Mortgage brokers are a service provider that’s dedicated to best serving the needs of any customers that comes to them. This is why they need to be flexible when it comes to the plans they offer. Expected flexibility with mortgage payments can typically be determined by asking a professional what their available plans are, how lenient their guidelines can be, and what services and adjustments they can offer in the long run!

Conclusion

When it comes to finding your dream home, it’s vital to note that you can never have the best experience unless you get the right mortgage broker for your needs. This is why the process of choosing is even more important. With this quick guide’s help, however, you’ll be able to find the best broker in no time that will best serve your needs!

We're a team of mortgage brokers and financial advisors in Worthing and Lombard that specialise in bridging finance, development finance, residential mortgages, and commercial mortgages. Get in touch with us today to learn more about how we can best help suit your financing needs!

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