What Does a Mortgage Broker Do?

Why use a mortgage broker?

If you want to save time, money, and avoid stress and worry, you should consider working with a mortgage broker. As experienced professionals, we have access to thousands of products, exclusive deals, and multiple mortgage lenders.

If you were to go directly to a bank, you would only have access to that one lender’s deals whereas we can compare multiple options to ensure you get the best deal overall.

Appointments that work with your busy day-to-day life

Our appointment booking team is available to assist you 7 days a week. You can also book an appointment on our website and choose between telephone or video calls at a time that suits your busy schedule.

Before your application

To move forward with your mortgage, you will need to attend an appointment with your mortgage advisor. During this meeting, you will provide additional information to help them understand your situation.

They will then examine various mortgage deals from a large selection of lenders and recommend the one that suits you best. If you are a first time buyer and agree with their recommendation, they will aim to get you an agreement in principle (AIP) within 24 hours of the appointment.

When you make an offer on a property, estate agents will usually ask for your AIP. This demonstrates your commitment to the purchase and reassures the seller that you can proceed with the sale. We can assist you with the offer process, provide guidance on property surveys and advice on insurance options to ensure you can stay in your home, no matter what happens.

You’ll also need to provide documentation to support your mortgage application, which may differ depending on the lender and your goals for the mortgage process. We’re here to help you navigate this step and ensure you’re well-informed throughout the process.

During your application

After receiving your documents, we will verify them and provide you with a mortgage illustration that outlines the agreed deal. This will be done before we submit your application to the mortgage lender. Once we submit your application, we’ll send copies of your documents to the lender.

Expect regular updates from us via email to keep you informed on the progress of your mortgage application. When the lender reaches a decision, we’ll let you know. If your application is successful, you’ll receive a formal mortgage offer.

At this point, your solicitors will take over and complete the mortgage deal, allowing you to move into your new property.

Our mortgage advice service

We put your best interests first, doing everything we can to save you money and put you in the best position financially.

Our customer reviews reflect the positive and lasting relationships we build, as well as our commitment to helping our customers find the best mortgage deals available.

Written by
Malcolm Davidson
Managing Director of UK Moneyman Ltd.
MAQ & CeRER Qualified

22nd April 2024

About the Author

Malcolm Davidson

Managing Director of UK Moneyman LTD

Malcolm is one of the UK’s most well-known and respected Mortgage Advisors. He is passionate about providing a 5* customer experience and he has also trained and mentored dozens of fellow Advisors in a career that is now in its third decade.

In addition to his day to day duties as Managing Director, Malcolm still gives out mortgage advice and feels lucky that his job is also very much his hobby.

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