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Speed dating for mortgage hunters

Speed dating is an efficient method of identifying suitability or a match, and is not too dissimilar to finding the correct mortgage.

In fact, there might not be a timed buzzer, but the mortgage search and application process still requires you to put your best foot forward. Using the services of an experienced well-connected mortgage broker can narrow down the choices and increase your chances of success.

Keep your options open

Henry Knight, Managing Director of Springtide Capital reveals that: “Though most brokers seem like a good option initially, they’re often restricted by limited panels or simply do not have a wide ranging number of contacts.

“Unlike some brokers, Springtide Capital offer a wide ranging variety of mortgage options and we have experience working with complex income streams, commercial and buy-to-let portfolios. Our excellent lender relationships means that more applications end with a ‘yes’.”

Although a smart website might be impressive, an experienced, friendly and professional person will be essential when the tough questions are asked. And before you make your final decision, check if they’re on a panel (restricted), what fees they might charge and their mortgage market experience.

Be prepared

You’ll need to ensure your bank accounts and credit history are in good shape to impress, so timing is everything. If you have any hidden baggage, now’s the time to own up, as your adviser will know which lenders are suitable for your circumstances.

Most mortgage applicants don’t realise that once they’ve found the correct broker, discussed figures, identified and applied for a mortgage, you might also have a lender interview. Why? Because the lender also has a duty of care to help you establish whether you understand the risks and can truly afford the mortgage. If you do, make sure that you have all your facts and figures to hand as they’ll want to go through the details of your applications including all your incoming and outgoing finances.

Honesty is the best policy

When you’re asked questions, it’s important to tell the truth so that when you’re asked to provide payslips or any other supporting information, it matches your application. If not, it will delay the process and may lead to your mortgage being refused.

Remember, a broker is there to help you find the most suitable mortgage and there’s one out there for everyone – just ensure you commit to the best broker and deal for you.

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FCA
Springtide Capital Limited is authorised and regulated by the Financial Conduct Authority.

Important Legal Information
There may be a fee for mortgage advice. The precise amount will depend upon your circumstances and loan amount. The FCA does not regulate most buy-to-let, second charge or commercial mortgages. The Financial Ombudsman Service is available at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Copyright 2017 Springtide Capital Limited. All rights reserved