It’s well reported that the mortgage market today is a very different place to the one a decade ago, with affordability at the front of clients’, lenders’ and brokers’ minds; does this mean that getting the right deal is even more difficult?
Well, it’s not that clean cut but finding the right mortgage broker is more important than ever. It’s fair to say that as far as decisions go, choosing the correct size of mortgage, type and term can be confusing in the current market.
The good news is that there is an emergence of new lenders who are all battling for new business and they’ve also just realised that to keep existing clients they need to reward loyalty; more competition means that there are more options available. Lower lending rates, and schemes, mean more people can step up on to the property ladder and existing property owners can step up to the next dream home.
The tricky bit comes in deciding what is best fit for an individual’s circumstances; be it a first time buyer, mover or landlord and what position they are in to prove income and savings. The ultimate goal for a mortgage broker is to get the best deal for their client’s circumstances and provide some options to protect against unforeseen events like illness.
Choosing the correct mortgage broker will mean that there is someone looking out for the best interests of the customer, safe in the knowledge that they have the qualifications and experience to tailor advice. The best buy tables in the local newspaper will tell of great rates, however, an adviser has the benefit of knowledge as to whether a lender will accept self-employed accounts of less than two years, whether the products fees outweigh the rate and what flexibility is provided in terms of early repayment and overpayments.
All of this makes choosing the right mortgage adviser, and lender, even more important and here at Springtide Capital we care about each and every one of our clients. To find out how we can help, speak to us today on 020 3040 4400