3 benefits a mortgage broker can offer first time buyers

by | Friday 1st Dec 2017 | Mortgage Insights

Couple smiling because of mortgage benefits

People don’t just partner with a mortgage broker to find the best bespoke package for their financial needs. One of the main benefits for using a mortgage broker is to navigate what is one of the most stressful processes around.

Consider recent research from Trussle, which found close to one in ten first-time buyers has broken down in tears when trying to secure their first loan. It’s little wonder why so many turn to using a mortgage broker to take the weight from their shoulders.

Finding a suitable mortgage broker may not be easy, though. With so many financial institutions, lenders and agencies out there all vying for consumer attention, it’s important to find a mortgage broker who has your best interests at heart.

Working alongside a mortgage broker who truly cares about buyers’ overall welfare though is more than worth the investment. Consider recent research from Tesco Bank.The findings suggest that approximately 2.5 million home owners are being overcharged on their mortgage by up to £274 a month. They also found that 30% reduce their social spending to afford payments, 25% cut back on their holidays and 10% work additional hours or find a second job to pay for their mortgage.

All of these factors could potentially be avoided if buyers work closely with the right mortgage broker to find a bespoke package that works for them and their finances.

Make life easier with a mortgage broker in London and the South East

Not just when buying a house for the first time, too. A mortgage broker can also go a long way to making the remortgaging process much easier, helping people to discover more bespoke packages and options that suit their financial lifestyle.

Here are three ways that working with the right mortgage broker can help first-time buyers get on the ladder and live a life without worrying about their finances:

1: What you see is what you get

Some brokers work on a flat-fee basis. Though first-time buyers will be paying for a service upfront, it may be a better option than being tied into a mortgage that hits them with unexpected fees and changing terms and conditions after the deal has been agreed.

2: A bespoke package that works for you

For that flat fee too, a good broker will work alongside you, taking into account your wants and needs as well as your current financial situation to suggest the absolute best options for you, taking the weight from your shoulders and assessing an enormous number of options to discover the right mortgage for you.

3: Working before, during and after the mortgage

Applying for a mortgage is daunting enough for first-time buyers, which is why a good broker will also work hard to develop long-lasting relationships with clients that support them all the way through the mortgage process and beyond, always on hand to provide the benefits of their industry knowledge and passing it onto their clients.

Oportfolio is a mortgage broker in London and the South East dedicated to working with first-time buyers to find them bespoke mortgage packages that suit their needs and helping to guide them through the complexities of finding a mortgage.

Your property may be repossessed if you do not keep up with repayments on your mortgage.

Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295. Call us now to learn the benefits of using Oportfolio.

Read our First-Time Home Buyer Questions To Ask A Mortgage Broker or contact our Putney mortgage team today to see how we can help you make your dream of home ownership a reality.

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