There are many qualities that make for a great mortgage broker. You want someone who is helpful and trustworthy, but also clued up and knowledgeable about the mortgage market. Although there are so many factors that make for a great mortgage broker. In our opinion, these are the most important.
Work with a broker you trust and who is on your side
The first and most important factor to focus on is knowing that your broker has got your back and is on your side.
This is something that our broker Paisley discussed on a recent video, but the reason for this being your top priority is simple. If you’re working with a broker that you trust makes the entire mortgage process much more streamlined and reduces some of the stress that can be involved in the process.
We say “reduces some of the stress” it doesn’t make one of the largest financial transactions you’re likely to make entirely stress free. But if you have someone on your side who can absorb just a little bit of the stress in the situation, it will really help out if things end up going a little pear-shaped later in the application.
They take the time to understand their clients’ needs
A great broker takes the time to really understand the needs of their client and make sure that they are well placed to answer any questions that might arise (because questions more often than not will arise).
Taking time to understand the needs of the client is one of the things which really differentiate mortgage brokers and going through the process of applying for a mortgage from a High Street Bank. As we have discussed in a previous article when approaching a bank directly for a mortgage you are constrained to pick from only the mortgage products that said bank offers.
It might be the case that the bank you choose has got a product that is right for you. However, if you are working with a broker who takes the time to understand specific needs and who has access to a wider range of products you can be more reassured of being advised about a product that meets your needs.
They are responsive and keep you up to date
The best brokers are always responsive – and this is something that we aim for at Chambers Financial Services.
Obviously in the mortgage process there are plenty of things that need to be kept on top of, keeping the client up to date is vital, but equally is making sure that lenders are being chased up and solicitors and estate agents are being kept up to date with any situation.
There are many moving parts with securing a mortgage – a great mortgage broker will know this instinctively and will ensure that they are working proactively to keep the key people in the transaction happy and aware of what is going on.
If you don’t feel like you have a great experience from a mortgage broker before, let us try to change that experience for you. Contact us here or call us on 01268 744 333 to discuss your mortgage needs with us.