Four Steps To Locate The Right Mortgage Broker

It’s time to look for a home and you’ll need the right person to help you navigate the waters.

17:19 12 March 2013

You want to find the right home for your family, so why should finding the right mortgage broker be at the bottom of the to-do list? Do some research; ask friends and family for recommendations. A good mortgage broker can make the entire home-searching and purchasing experience a lot less stressful. 

Here are a few points to help you get started on the right track towards finding a mortgage broker who is a good match for you.

• After doing some research, contact mortgage brokers who have a good reputation. Try to find independent mortgage brokers whenever possible so they can compare rates to get you the best deal.  You can verify whether or not the mortgage broker you’re considering is able to give advice by consulting FSA register.

 

• Have an idea of the type of property and price range you are looking for, and have a record of all your monthly expenses as well. If you are looking for a property that won’t run more than £900 per month, be adamant. A good mortgage broker will start lower than £900 due to the addition of taxes and interest which would be added into a payment. 

 

• Make sure the mortgage broker is considerate of your needs and desires. If he or she tries to talk you into amounts you are uncomfortable with, or certain mortgage plans you do not want, find a different mortgage broker. They may not be truly independent if they aren’t listening to your needs, or they may not be communicating the programmes effectively.

 

• A mortgage broker should provide you with a KFI, key facts illustration, which should give the comprehensive details regarding a mortgage.