"The Easy Way to Get Your Best UK Mortgage" |
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Mortgage
Guide
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Finding
your Mortgage
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What Types Of UK Mortgage Brokers Are There?
As from June 1 2005 – when new government regulations came into play - there are now three types of Mortgage Broker that you can consult for mortgage advice:
Tied Brokers, Multi-Tied Brokers and Independent Mortgage Brokers.
Tied brokers are literally
tied into one mortgage lender.
They are probably employed by the lender and will only offer you mortgage deals from that lender.
So you are not seeing the full choice available.
Multi-tied Mortgage Brokers are a step up from Tied Brokers in that they can offer products from a range of providers.
But this is still a limited choice.
The “panel” of mortgage lenders they represent will be more likely to be chosen on the basis of what is best for the broker – who gives them the best commission etc – rather than what is best for you.
They do not have to scour the entire market for the best deals. (Oddly many banks, building societies and insurance companies are now becoming multi-tied Mortgage Brokers).
Independent Mortgage Brokers are usually more experienced and probably more likely to really get you the best deal available.
They have often come from years of working for a big firm. These years in the business, plus their flexibility in being able to go to any lender, is all a bonus for you.
The
fact that they are operating independently of a big bank or
lender doesn't mean they don't have all the required back
up.
They have access to special computer programs which can quickly
check the whole of market range – comprising over 100
lenders – and identify the mortgage that is best for
you - not what is best for them.
To read more on this subject please see the list below or your mortgage guide or your home buying guide
Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below
More About UK Mortgage Brokers
What Type Of Mortgage Advisers / Brokers Are There?Which Type of Mortgage Broker Is Best For You?
How Do I Find A Mortgage Broker?
Questions To Ask Your Mortgage Broker
The Keyfacts and Initial Disclosure Documents
Mortgage Broker Qualifications
Who Regulates Mortgage Brokers?
How To Check Up On A Mortgage Broker
Complaining About Mortgage Brokers
The new regulations – an overview
Important note about your credit rating
Many websites don't make it clear that filling in their mortgage enquiry form means you might be credit checked.
This can put you at risk.
UK Mortgage lenders may assume an enquiry you have aleady made to another lender means you were turned down - and not that you are in fact carefully shopping around and rejecting the bad deals.
The best way around this significant problem is to ask an independent mortgage adviser to make anonymous enquiries for you.
Without risking your credit score an adviser can find you the best available mortgage deal. They will also know how likely you are to be accepted by the lender if you decide to make a formal application.
If you would like a recommended adviser to check out the best deals for you, anonymously, simply fill in the quick form below.
" Hmm..." You might think; "Won't I be hounded by a salesman hungry for my business? "
This is the most common question we hear from our users.
The answer is no you won't.
Firstly your enquiry is only passed to ONE person on a carefully vetted list of independent advisers.
Secondly,
these mortgage advisers are professionals. Even
when the market is slow they are busy
people. There many people who need to move homes, or get
a remortgage and are looking for advice all the time.
Regardless of the state of the property market, life goes
on.
So the advisers don't have time to hassle people. It just
doesn't work like that. No one is gong to be forced into
taking out a mortgage unless they really need one.
The advisers are very used to talking with people, perhaps like yourself, who are only "dipping their toes" into the water.
Many people just want an initial quick chat and if they feel comfortable will ask the advisor to contact them again later - often in several weeks or months. As a professional, the adviser will simply diarise this and call back at the appropriate time. There is no obligation at all.
(In the unlikely event that you ever feel at all "hassled" by someone on our list please let us know immediately. We have never heard of this. But if it happened we would definitely want to know).
Read more about Finding Your Mortgage
or
See contents of Full Mortgages Guide
or
See contents of Home Buyers Guide
or
I've read enough for now and want to get a free Quick Mortgage Quote
Finding your Mortgage
Going
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Going
through a Mortgage adviser
Going
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Going through
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Going through
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through other websites
Your Mortgage TOP TIPS
How to get a Mortgage
The step by step guide on how to get a mortgage with special tips
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Mortgage
Basics
How
to Choose your Mortgage
Types of Mortgage
Where to Find Your Mortgage
Getting a Mortgage in Principle
Browse over 200 Free Mortgage TipsYour Complete Guide to UK Mortgages Find Out How to Win the Race to Buy Your Home - Home Buyers Guide Learn How to Save ££s by Remortgaging Read the Insider Info on Home Insurance Site Help |
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