A whole-of-market mortgage broker can do much more than simply find you a mortgage rate. Their job is to look at your circumstances, search the available lending options and guide you through the process.
What will a whole-of-market mortgage broker do for you?
🔎 Search across a wide range of lenders
Rather than being tied to one bank or building society, a whole-of-market broker can compare mortgage products from a broad range of lenders to find an option that may suit your circumstances.
💷 Help you borrow what you need
They can assess your income, expenditure, existing commitments and credit history to establish how much you may realistically be able to borrow.
📋 Understand your circumstances
Every application is different. A broker can take into account things such as:
- Self-employed or employed income
- Overtime, bonuses and commission
- Previous credit problems
- Mortgage arrears or defaults
- Age and retirement plans
- Existing mortgages
- Multiple sources of income
- Equity in your property
🏦 Find lenders who may accept your circumstances
This can be particularly valuable if your situation doesn't fit the standard high-street lending criteria. A broker may know which lenders are more flexible with particular circumstances.
📊 Compare the overall cost—not just the interest rate
The cheapest-looking rate isn't always the cheapest mortgage. A broker can compare the rate, arrangement fees, valuation, legal costs, incentives and monthly payments.
📝 Deal with the application process
Once you've decided on a mortgage, your broker can help prepare the application, explain what documents are required and liaise with the lender during the application.
☎️ Help when problems arise
If the lender asks questions, requests additional information or the application doesn't proceed as expected, your broker can help you understand what's happening and what alternatives may be available.
🔄 Review your mortgage in the future
Your broker can also review your mortgage when your fixed or discounted period is coming to an end and help you consider whether remortgaging or changing your mortgage could be appropriate.
In simple terms
You don't have to spend hours approaching different lenders, working out their criteria and completing multiple applications. Your broker does the research and helps you navigate the process.
And importantly, a good broker should explain why a particular mortgage is suitable for you, rather than simply telling you which product has the lowest rate.
A whole-of-market mortgage broker can do much more than simply find you a mortgage rate. Their job is to look at your circumstances, search the available lending options and guide you through the process.
What will a whole-of-market mortgage broker do for you?
🔎 Search across a wide range of lenders
Rather than being tied to one bank or building society, a whole-of-market broker can compare mortgage products from a broad range of lenders to find an option that may suit your circumstances.
💷 Help you borrow what you need
They can assess your income, expenditure, existing commitments and credit history to establish how much you may realistically be able to borrow.
📋 Understand your circumstances
Every application is different. A broker can take into account things such as:
- Self-employed or employed income
- Overtime, bonuses and commission
- Previous credit problems
- Mortgage arrears or defaults
- Age and retirement plans
- Existing mortgages
- Multiple sources of income
- Equity in your property
🏦 Find lenders who may accept your circumstances
This can be particularly valuable if your situation doesn't fit the standard high-street lending criteria. A broker may know which lenders are more flexible with particular circumstances.
📊 Compare the overall cost—not just the interest rate
The cheapest-looking rate isn't always the cheapest mortgage. A broker can compare the rate, arrangement fees, valuation, legal costs, incentives and monthly payments.
📝 Deal with the application process
Once you've decided on a mortgage, your broker can help prepare the application, explain what documents are required and liaise with the lender during the application.
☎️ Help when problems arise
If the lender asks questions, requests additional information or the application doesn't proceed as expected, your broker can help you understand what's happening and what alternatives may be available.
🔄 Review your mortgage in the future
Your broker can also review your mortgage when your fixed or discounted period is coming to an end and help you consider whether remortgaging or changing your mortgage could be appropriate.
In simple terms
You don't have to spend hours approaching different lenders, working out their criteria and completing multiple applications. Your broker does the research and helps you navigate the process.
And importantly, a good broker should explain why a particular mortgage is suitable for you, rather than simply telling you which product has the lowest rate.