21 reasons to use a mortgage broker

independent mortgage broker

use an Independent Mortgage Broker

21 things to consider regarding your mortgage

Here are 21 factors that can cause issues for mortgage lenders in the current market

  • Age
  • Bankruptcy
  • Bonus payments
  • County court judgements
  • Credit Card balances
  • Defaults
  • Debt Management Plans
  • Gifted deposits
  • Interest only applications
  • IVAs
  • Late credit payments
  • Maternity Pay
  • New builds
  • Other property in the background
  • Payday loans
  • Personal loans
  • Self builds
  • Self-employed income
  • Spouse not on mortgage
  • Temporary employment contracts
  • VISAs

If you see anything on this list that applies to you – think carefully.

To pick the right mortgage lender and the right product for your circumstances you need to understand how each of these factors apply to your case and how they are viewed by lenders.

In addition you will then need to select the right mortgage pay rate and product type based on those available from the lenders that will consider your case.

Every day, thousands of people across the UK are taking the ‘weekly shop’ approach to mortgage borrowing and assuming they can just pick a product off of the shelf.

We know this because we speak to people every day who have tried this and shot themselves in the foot as a result.

The DIY approach leads to:

  • Borrowers obtaining the wrong product – which costs them money
  • Borrowers approaching the wrong lender – damaging their credit file
  • Borrowers being rejected – which causes stress
  • Mortgage applications abandoned – which wastes time and money
  • Property chains falling apart – which costs more money
  • Buyers losing their dream property – which causes heartache

Remember – when you approach your bank or other lender direct they do not provide you with advice, just information on their own product range.

They may tell you ‘NO’, but they won’t tell you who will say ‘YES’.

They may offer you a mortgage, but won’t tell you that another lender offers the same borrowing with a lower pay rate and lower fees.

Use an Independent Mortgage Broker

All of this can be avoided by engaging an experienced independent mortgage broker to handle your case.

It is your mortgage broker’s job to obtain you the best mortgage possible based on your full circumstances.

When you deal with A Mortgage Now you can be confident that your interests will be well served as all of our mortgage brokers have decades of experience in advising on and arranging both residential and buy to let mortgages.

What is more, we do it without meetings, without paperwork, and without fuss.

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