Mortgage Broker Bournemouth

  • Local mortgage brokers
  • Access thousands of deals
  • Helping you find the right deal

Speak to us today for a free, no-obligation chat about how we might be able to help you. 

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Finding a Local Mortgage Broker  in Bournemouth

What does a Mortgage Broker do?

A Mortgage Broker, sometimes known as a mortgage adviser offers impartial advice to people looking for a mortgage. Whether you’re a first time buyer, home mover or looking to buy a property to let out for profit, a Mortgage Broker will be well placed to advise you. They can offer you a comprehensive view of the different types of mortgage products available to you. Tailoring their lender search to your personal circumstances will save you time, money and reduce the potential for rejected applications. In order to best tailor their search, your Mortgage Broker will have an initial conversation with you to establish a clear picture of your overall financial situation. This way they can find the type of mortgage that suits you best. It’s likely that they will need to see documentation to prove your income and expenditures, so it’s a good idea to prepare for the initial discussion before you visit them.

What information will a Mortgage Broker ask for?

Here are some of the documents you should prepare in advance of speaking to a Mortgage Broker. For a joint application, both applicants should take these with them:
  • Proof of Identity, such as a passport
  • Proof of address, such as a recent utility bill
  • Employer details and payslips if available
  • At least three months bank statements, you may need more depending in some cases
  • A list of your regular outgoings, such as loans, utility bills, family and travel costs

It’s also beneficial to be aware of your credit score in advance of your visit. Brokers know that all lenders will need access to your credit history in order to consider your mortgage application and may ask you if they can do a credit check during your meeting. They will not do this without your permission, however. If you are able to offer an up to date copy of your report, they may not need to carry out a further search.

What are the benefits of using a Mortgage Broker?

The main benefit of using a Mortgage Broker is their ability to provide an independent whole of market mortgage view. If you’re looking specifically for mortgages in Bournemouth, brokers based in the local and surrounding areas can offer the additional bonus of local mortgage knowledge. Mortgage applications can be complex and sometimes having a broker to share the administrative burden can save you both time and stress. Given that they have a good knowledge of each lender’s acceptance criteria, they will steer you away from those lenders who might reject your application. As well as saving time and money on rejected applications, this also preserves your credit score, which would be damaged by a rejected mortgage application.

Mortgage Brokers vs. going directly to your bank

Whilst it may be comfortable and reassuring to visit your own bank for mortgage advice, you should bear in mind that as a mortgage lender, unfortunately, their advice is not unbiased. They have a vested interest in you taking out their mortgage products and are therefore unlikely to consider whether their interest rates are the best ones available to you. Mortgage Brokers are not affiliated with lenders and therefore are completely impartial in the advice they give you. This means you can feel confident that your best interests are kept in mind.

What services do Mortgage Brokers offer?

Some independent Mortgage Brokers specialise in certain types of mortgage, however, most brokers will be able to help you with the full range of mortgage products on the market. Whether you’re a first time buyer, self-employed and looking for specialist advice or moving home and considering a remortgage, a Mortgage Broker  can advise you which type of mortgage you need and which lenders to approach. Some brokers additionally offer other relevant financial advice, such as mortgage protection policies for buy to let mortgages.

What are the benefits of using a local broker?

Using a local Bournemouth based Mortgage Broker will give you the further advantage of local area knowledge.They deal with Bournemouth based banks and estate agents on a daily basis, and will often have recommendations for useful local contacts amongst them.   Knowing Bournemouth and the surrounding area well, they have a good idea of what might show up in your property searches. Finding out about planned developments ahead of time can help you make more confident decisions and is just another reason why local knowledge is so beneficial to your home buying experience.
Mortgage Broker Bournemouth
Mortgage Broker Bournemouth

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Mortgage Broker Bournemouth

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