Mortgage Broker Nottingham

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Home » Mortgage Broker Nottingham

Mortgage Broker Nottingham

Richard Davidson introduces the The Mortgage Store branch in Nottingham and talks us through the services offered by a Mortgage Broker.

What is the role of a Mortgage Broker?

A Mortgage Broker holds your hand throughout the entire house buying process. We explain how much you can borrow, what the most suitable mortgages are for you based on your circumstances, and look at the cost involved with buying a home.

Fundamentally you would come to a broker like myself to save money, time, effort and stress. It takes the stress away, and guides you along the process so that it goes as smoothly as possible, and you understand what’s happening.

What’s the difference between going to a Mortgage Broker versus your local high street bank?

The main difference is that we look at a range of different mortgage products and pick the most suitable one for you, whereas a high street bank only sells their own products. It’s a complicated market and it’s always changing, so my job is to find the most suitable mortgage, including those from specialist mortgage companies that you may not have heard of.

Brokers give advice based on your circumstances, no matter if you’re buying an unusual property, or have the odd credit issue. What we do is guide you through the whole house buying process, and provide you with a point of contact between estate agents, solicitors, and the seller of the house that you’re buying.

What services or products does a Mortgage Broker offer?

Mortgage Brokers are also qualified to advise on insurances, so we would be able to tell you the most suitable contents, life insurance, critical illness and income protection policies to support your mortgage.

This is alongside services such as the liaison with the estate agent and solicitors. It’s a whole package to ensure you get the most suitable product at the best price. There’s so much information online, and you can pick the cheapest, but is that necessarily the right one for you?. It’s a holistic approach to your finances really.

A broker builds up an understanding of what people need and can support clients through all sorts of changes. It’s nice to have that kind of continuity, for people when they need to remortgage, and for other needs throughout the mortgage term.

When you help someone get keys to their first home, is it a rewarding feeling?

Yes, it’s helping people to achieve their dreams, and sometimes people have saved for years. It’s a huge step that changes the rest of their lives, and if you can make that smooth for them, it is very rewarding.

When should I see a Mortgage Broker?

You should aim to see a broker as early as possible when you think about buying a house. We can help you get into the best position, as you might need to make sure you’ve been in a job for a certain amount of time, or there might be certain things that are preventing you from getting a mortgage at this stage, most commonly the credit score.

We can look at your credit profile and give you hints and tips on how to get yourself in the best position, what deposit you will need, so definitely speak to us before you start looking at houses. The first thing you need to know is that you’re looking in the right price range, that you have an Agreement in Principle, and that we understand your financial status.

Preparation is definitely key and there are a lot of things that you can do to get yourself in as good of a position as possible for the mortgage application.

You’re based in Nottingham but can you help somebody if they’re based elsewhere in the country?

We have customers from all over the UK. We can work face-to-face, over the telephone, or travel to meet people, but the location of the house makes no difference. A lot of Mortgage Brokers have really embraced the technology and remote meetings suit a lot of clients, especially if they are busy.

Why is Nottingham a popular location to live and buy property?

It’s very popular for a number of different people, partly because the cost of buying property here is more affordable but it’s also right in the middle of the UK, so it’s got good transport connections to both Scotland and London.

Nottingham is a popular, vibrant city that has university hospitals, Rolls Royce and Boots head offices. The nightlife, social and community aspect is appealing to lots of people, and there are different types of property, from more traditional to new builds.

When was The Mortgage Store in Nottingham founded, and how long have you been in your role?

I started in January, I’ve been doing the role for fifteen years, but this is a new venture for me. This role allows me to offer clients greater flexibility. We understand the local area and know the estate agents in Nottingham, and that’s something The Mortgage Store is very big on, offering locally focussed service.

Does it cost for an initial consultation with The Mortgage Store Nottingham?

No, there’s no cost for the issue of consultation. You can come and get all the information and gain a real understanding of what we offer, and there’s no obligation. We offer completely free initial advice and the option to go away and decide if we’re the right choice for you.

The mortgage market is changing all the time and it’s very difficult to keep track of rates, so book in for a conversation, as there’s no one-size-fits-all with mortgages.