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Why Get Mortgage Advice In South Wales?

A broker serves as an intermediary, connecting those who want to purchase financial products like a mortgage, to an appropriate service.

Mortgage brokers are specialists in their field and know the market for mortgages than the average homeowner, and so obtaining their guidance can prove advantageous.

There are numerous reasons people decide to employ brokers regardless of whether they’re first time buyers who are looking to take their first steps into the world of property or landlords with a portfolio of properties which they want to increase.

Here are a few advantages of employing a professional broker:

Access to the entire market

Mortgage applicants are only granted access to traditional mortgage lenders, however most brokers are able to access the entire market.

This means that candidates can take advantage of the kinds of mortgage lenders that they might typically not have the ability to get access to or struggle to locate.

A good, reliable broker will have been working for years with a range of lenders and possess an in-depth knowledge of the many mortgage options offered.

This helps applicants get the most suitable deal that suits their needs and the broker can swiftly locate the best deal for their needs.

The difference between a mortgage that appears as if it’s a great deal and one that a broker can offer you with a more favorable interest rate could help you save a substantial amount of money over a long period and it’s important to ensure that each offered deal is analyzed to determine which one is more beneficial.

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Access to specialists in lending

For those who are in special situations, such as poor credit or who are self-employed these are likely find the appropriate lenders through using brokers.

If an applicant has a problem with their credit report and this affects the likelihood of getting an application for a mortgage accepted in the sense that lenders might classify the applicant as more risky.

In these circumstances, certain lenders may still provide an opportunity to borrow to the applicant however they will charge an interest rate that is much higher.

The applicant will have to pay many more pounds over the course of the loan than had they been able to obtain a lower rate of interest with the assistance of an agent.

In 2014, there was an Mortgage Market Review, which resulted in lenders being forced to conduct more rigorous affordability checkups.

Since then there is a need for more proof to show income, for instance the need to prove income, and it is becoming difficult for certain people to qualify for mortgages with greater amounts.

The same was true for those working for themselves and were incapable of providing six months’ pay slips or other proof to prove their earnings.

If those with particular circumstances applied for mortgages through the usual lenders, it is highly likely that their application would be rejected.

A mortgage application that is rejected can further affect an applicant’s credit rating, and it is best to avoid it whenever feasible.

A broker who knows the client’s financial circumstances can determine the most suitable lender in the market to offer the client an offer on a mortgage.

Expert Advice

The mortgage market is changing rapidly It is therefore necessary to become an professional in the mortgage field to be aware of what the best current offers are and who’s providing them.

The main function of a broker is to utilize all the relevant details about the applicant and then find the perfect deal specific to the requirements of that.

Thus, details like credit background, income, outgoings outstanding debts, the quantity of deposits and employment type are all taken into consideration when making a decision on the best lender to provide them with the best price.

With their extensive knowledge in the business, brokers can assist applicants find the right lender to meet their requirements.

For instance, if the applicant requires a home purchase that can be completed in a short time the broker would be able to provide advice on the lenders that typically provide quick service.

They also can verify that the applicant is prepared with everything to hand that the lender is likely to require prior to the lender asking for it, which can further make the process easier.

Brokers should have appropriate qualifications like for example, the CeMAP (Certificate for Mortgage Advice as well as Practice) which signifies that they have undergone the necessary training in order to allow them to give people mortgage advice.

They are also controlled through the FCA and must be listed included on the FCA register It is simple to verify.

If a person receives erroneous mortgage advice, they’re protected and may file a complaint for compensation. So this is yet another reason why individuals prefer working with an expert mortgage broker for the additional protection.

Exclusive Deals

Certain mortgages are only accessible to brokers, since the lender is only available through the broker.

They are often a part of the deals for specialist applicants who meet certain criteria can be considered for when other lenders will not consider them.

Brokers also have access to special deals that could make a borrower save lots of dollars during the term of their mortgage.

A lot of lenders will offer special rates to brokers, not directly to borrowers.


A broker can take some of the stress out of making an application to get a loan.

Looking through the various kinds of mortgages and lenders can take many hours, and then there’s the math and financial terms that many people struggle to comprehend.

A broker is capable of explaining all the specifics to applicants, and there’s less need for the prospective buyer to know everything in detail, as the mortgage broker can advise the most suitable deal with their expertise.

A broker is aware of the process from top to bottom and applicants do not have to think about what they have to do or find out what the process is like.

A broker will guide their clients through the entire process of completing a mortgage application, addressing any questions that arise as well as acting to protect the client’s best interest.

Thus, the applicants won’t have to be concerned about when they should engage a solicitor, or what paperwork is required since the broker generally does all of the job for them.


The use of a broker offers homeowners with a myriad of advantages, from saving cash throughout the duration of their mortgage, to expediting the process processing and taking the stress and hassle out of the mortgage application process.

The experience of a broker can assist in determining the best lender for each client and also find the best rates available in the marketplace.