Bank or Mortgage Broker? Belvoir Hull investigates.
So you have decided to buy your own home first of all Congratulations! Now it’s time to find that right mortgage deal. If you are a first time buyer this can be stressful especially if you are unsure whether to go to the bank or whether to contact a mortgage broker.
Speaking to family and friends can cause more confusion as some may have got a mortgage with a bank and never contacted a broker and vice versa, Belvoir Hull investigate the difference between banks and brokers.
- Exclusive direct only deals
- No Broker Fees
- Limited choice of mortgage products
- Limited choice of mortgage deals
Mortgage Broker: Pro’s
- Whole of the market comparison
- Exclusive broker only deal’s
- Impartial advise
Mortgage Broker: Con’s
- No direct only deals
- Possible broker fees
Banks Direct Deal explained : Not all of the mortgage deals offered by banks and building societies are available through a Broker some are just reserved for clients who arrange there mortgage directly with them. Some banks do offer some direct deals through a broker however not all of them. Also some banks and building societies offer the discounted rates to customers that have other financial products with them. You have a limited choice of deals dealing with the banks or building societies potentially meaning youmiss out on the best option for yourself.
Brokers whole of the market explained: There is such a wide range of moortgage products available with immediate access. A broker will have experience, technology and experience to access your financial situation and will be able to compare all the different products, deals that are available and get the best one for your circumstances. Also a broker will give you all the best advise especially if you have no idea about all the different types of mortgages they explain everything in a way that you will understand. They also do all the leg work for you they do all the research giving you more time to find your perfect home.
Finding a reputable broker can be challenging, doing some internet research, ask family and friends if they have ever used a broker if so which one they used. Once you have found a reputable broker it is important you research the products they may offer you to ensure you are happy with the product for your circumstances.
Here at Belvoir we work closely with The Mortgage Advise Bureau and they have helped many of our clients find the right deal for them. If you are interested we can speak to Tony and arrange for him to meet up with you for a free initial consultation either here in our office or we can ask Tony to do a home visit which are totally flexible for anyone who may work long days and are only available in a evening call Belvoir today on 01482 322300.
If you are an investor and would like a second opinion on a property you have seen, you can send the URL of the property to us via email firstname.lastname@example.org. Alternately you can call our office on 01482 322300 or pop into our office and have a chat, the kettle is always on and we will even pull out the biscuits!
Don’t forget to visit the links below to view our back dated deals and Hull Property News:
Belvoir Hull Website: www.belvoir.co.uk/letting-agents-hull
Belvoir Hull Facebook: www.facebook.com/belvoirhull