Choosing a Mortgage Broker
8 mins read

Choosing a Mortgage Broker

Buying your first home is an enormous decision, and picking a mortgage broker should not be stressful; Mortgage Wellness’s Gerard Buckley takes all the hassle away.

Whether it’s your first home purchase, relocation, remortgage, or refinancing your existing mortgage, our independent advisors can help you find the most advantageous mortgage deal.First Time BuyerFirst-time homebuyers often feel overwhelmed and uncertain about purchasing their first property. You need to carefully consider all aspects, with mortgage choices one of the most significant decisions. There are various aspects you need to consider, and it would be wise to consult a mortgage broker so they can explain everything and help guide your decisions on what option best fits you.An expert Southampton mortgage broker will assist in finding you the ideal loan solution for your situation. They can access numerous lenders and search the market on your behalf. In addition, they are experts at offering advice regarding different protection policies available – this is particularly beneficial to first-time buyers who may need to learn their options!Whether you are a homeowner looking to remortgage or an investor searching for buy-to-let properties, consulting a mortgage broker is essential for finding the right solution. They have access to the entire market and provide customized advice – something that banks cannot do. Furthermore, mortgage brokers will monitor your rate to let you know when a better offer becomes available and contact you when the best rate becomes available.An expert mortgage advisor in Southampton will be available to guide you through all aspects of your mortgage application and servicing, from initial application through ongoing servicing. They may even offer payment protection insurance as an add-on service. They offer advice either over the phone, via Skype or Zoom and take the time to explain all available options to you entirely.Help to Buy is a government initiative that assists those with limited housing income struggling to make it onto the housing ladder. A 5% deposit must be provided, with limits varying according to region. A Southampton Mortgage Broker can also assist in applying for this scheme and provide expert mortgage advice before using it.Home MoverHome Mover Mortgages are available to homeowners looking to relocate and are in the process of selling one property and buying another; in certain instances, it is possible to simultaneously exchange contracts on both properties, making a home mover mortgage available to these consumers. Buyers must understand all of the implications of becoming home movers before purchasing their next property, including any associated costs and potential implications that might arise.Home-moving mortgage applicants don’t differ much from any other residential applicants when applying for their loan; however, when considering using as a home mover, there are more considerations when applying. One primary concern when moving is securing the deposit necessary to purchase their new property – hopefully through equity built up from their old place or savings, which can assist in meeting this deposit requirement. Also of importance may be estate agency fees, which could add significant costs, so getting multiple quotes to compare charges between agencies may be beneficial.Reasons to move may range from downsizing to upgrading; whatever your motivation, it is wise to seek guidance from an experienced mortgage broker in Southampton to find the most suitable option and deal for yourself. Although purchasing your first property can be daunting, having expert guidance can make the experience less daunting and more manageable.Alexander Southwell Mortgage Services Ltd of Southampton can simplify the process and advise which mortgage will meet your specific needs. They can advise on additional products like home, building and contents insurance and protection policies.Southampton offers potential home buyers much to love in terms of waterfront living. Not only is it one of Europe’s biggest ports and the UK cruise ship capital, but it’s also known as an upbeat cultural centre known for music and art. Furthermore, its location makes it an attractive property investment option; again, its growing economy has led to an increased need for housing, though now is an opportune time to acquire one as prices have reduced considerably since previous purchases were made.RemortgageWhen purchasing property in Southampton, seeking guidance from an experienced mortgage broker is wise. A knowledgeable advisor will assess your individual mortgage needs and recommend an option tailored specifically to you – a Help to Buy mortgage or fixed rate deal – depending on what best meets them.. If your current mortgage deal is ending, now may be the ideal time to explore remortgage as an option. A remortgage allows you to switch lenders and reduce interest rates; your borrowing amount can remain the same or even increase to allow home improvements or pay off debts more quickly. Just beware – remortgaging within the tie-in period could incur an early repayment fee!Mortgage brokers can access thousands of loans, even those not readily available on the high street. They can recommend the perfect option for your circumstances and help with the application process. They will assess your credit file and income to see if a mortgage payment fits your budget.Make a list of questions when meeting with your mortgage broker to ensure all your questions are addressed and that all information provided meets your comfort levels. If any financial jargon arises during the meeting, please ask for clarification or additional explanation.Due to the diversity of properties available within the city, it’s vital that when searching for the ideal mortgage product, you and the market should understand your requirements and the market in which they exist. A reputable mortgage advisor should take the time to get acquainted with you and your situation, providing tailored advice and guidance that ultimately results in finding a competitive loan deal for your home. They may even guide you on improving credit scores before applying to secure better deals when they do come around!Help to BuyWhen it comes to home buying, most people know they will require a sizable deposit but often struggle to come up with enough savings. That is where mortgage brokers come in handy, as they can access hundreds of lenders and search out the best possible deals available.Regulated mortgage brokers are bound by the Financial Conduct Authority rules to ensure they treat their clients fairly and offer advice in their best interests. Furthermore, this gives you extra protection than applying directly with lenders.As a first-time buyer, buying your new home can be an extremely stressful experience. But speaking to a mortgage broker in Southampton can make the process much less daunting – these professionals take time to understand your circumstances, assess them and find an affordable loan product tailored specifically to you. They may even negotiate directly with sellers on your behalf to secure you the best possible price!Before beginning to look for properties in Southampton, it is advisable to speak to a mortgage broker. A reputable broker will be able to offer various lenders’ mortgage products – including specialist ones – and can even provide a Loan Estimate that allows you to compare fees and mortgage rates more quickly.Southampton boasts a vibrant and growing cityscape connecting Titanic and medieval England. Regeneration plans for its area are underway, and as well as beautiful beaches and parks, it offers shopping, restaurants and entertainment.Southampton offers many homes for every budget and taste imaginable – from brand-new developments to period properties. If you want to live near the centre or on its fringes, there’s sure to be something suitable. Even for those seeking something more luxurious, there are newly built apartments with views of Southampton Marina to tempt them!

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