Mortgage Broker Essex

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How a Local Essex Mortgage Broker Can Help You?

What does a Mortgage Broker do?

A Mortgage Broker, also known as a Mortgage Advisor, provides advice and support to those looking to obtain a mortgage. They can ensure that you approach the right lender for your personal circumstances.

If you are looking for mortgage advice in the Essex area, then finding a local broker will be beneficial. The advantage of a broker with local area knowledge shouldn’t be underestimated. They are familiar with local lenders and solicitors, property types and future planning applications in the area.

In order to successfully find you the most suitable lender, with the best mortgage rates available for your circumstances, they’ll need a clear picture of your financial situation. You can prepare in advance for the type of questions you might be asked, prior to your initial meeting. The questions will relate to your income, deposit savings and financial responsibilities. It’s a good idea to take these documents when meeting your Mortgage Broker:

  • Proof of Identity
  • Proof of address (a recent utility bill will be most helpful)
  • Details about your employment and payslips
  • Three months worth of bank statements, more if available
  • A list of your outgoings (loans, utility bills, travel costs etc)

What are the benefits of using a Mortgage Broker?

The mortgage application process can be daunting, so having an experienced Mortgage Broker to support you can set your mind at ease that you’re making wise decisions.

Whether you’re a first time buyer, moving home or looking for a buy to let mortgage in the Essex area, a local broker can provide you with invaluable advice.

Another major benefit of using a Mortgage Broker is their ability to steer you away from those lenders who may reject your application. Rejected applications, on top of wasting time and money, will affect your credit score. This will only make your next application even more difficult.

Why use a Mortgage Broker rather than your bank?

Whilst your own high street bank may seem like the easy or comfortable choice, you should bear in mind that they cannot give you unbiased advice. As they’re acting as the mortgage lender, your bank will always intend to sell you one of their own mortgage products, whether or not this is the most suited to your needs.

Mortgage Brokers have no vested interest in the mortgage products, as they are not selling them. They can therefore offer you completely unbiased advice and you can feel confident that you are receiving the best advice for your situation.

What services do Mortgage Brokers offer?

We offer a wide range of advice and services. Some specialise in certain types of mortgage, but most will be able to help you with a range of mortgage products on the market.

Some of the more specialist financial products, such as mortgages tailored to certain professions, businesses or equity release schemes are complex, to say the least. Having advice from trained advisors who are regulated by the Financial Conduct Authority (FCA) is highly recommended.

We can provide administrative support, advice and guidance throughout the entire mortgage process, but most importantly, we are here to find the mortgage best suited to you. We offer additional financial advice, such as life insurance or mortgage protection policy recommendations.

Many brokers may also be able to find you the right insurance products for your mortgage. Policies like life insurance, critical illness insurance and income protection can make sure your mortgage is paid should the unexpected happen.

What are the benefits of using a local broker?

If you’re looking for a home in the Essex and surrounding areas, you can’t beat a local Mortgage Broker. As a local broker, Mortgage Advice Centre has the advantage of wider local area knowledge. They deal with a variety of lenders, Essex based estate agents and solicitors every day, so are able to recommend local contacts for a smooth process.

Whether you’re looking for your first home in Chelmsford, a beach-front house in Clacton-on-Sea or a modern apartment in Colchester, Mortgage Advice Centre brokers can help to prepare you for what to expect on your local property searches. Timely knowledge about future developments in the surrounding area to your planned purchase can instill faith in your long term decisions.

Being well informed about council tax bands helps you with your future budgeting and if you’re looking to build your own home, being directed to available plots with planning permission in place, can save you years. This level of local area knowledge can best provided by an Essex based Mortgage Broker.

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