Mortgage Broker Wolverhampton

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Home » Mortgage Broker Wolverhampton

Meet your local Mortgage Broker in Wolverhampton

Carl Fellows from The Mortgage Store in Wolverhampton talks us through the role of a mortgage broker.

What is the role of a mortgage broker?

My role as a mortgage broker is to give clients the best advice when helping them to arrange a mortgage. We work directly with clients and factor in their circumstances to find the best deal that’s available to them.

What’s the difference between going to a mortgage broker versus going to your local high Street lender?

There are many more benefits to using a broker compared to going directly to a bank or building society. Firstly, we’ve got access to hundreds of products from multiple lenders across the market, and a range of criteria that may be more limited with a bank or building society.

I can generally always find a solution for a client, whereas a bank or building can only offer their own products and criteria. For a client that has gone to the bank, this could lead to disappointment. If they don’t fit that bank or building society’s criteria, they might not be able to get a mortgage.

Meanwhile if you go into a broker, we can look at other lenders with different criteria and be able to place you elsewhere.

What services does a mortgage broker offer?

As a mortgage broker, we can talk to clients about other services too – it’s not just about arranging the mortgage. We can put them in touch with solicitors; we talk to them about mortgage protection. Once you’ve got your property, that’s about enabling you to stay in there by protecting that mortgage.

We also support surveys – there are different types of survey when you purchase a property, beyond a standard valuation. We can help you arrange those to make sure that that property you’re purchasing is structurally sound and works for you.

With any mortgage, most lenders will always offer what’s called an agreement in principle. We can help arrange that for clients. The reason to get this up front is it puts you in the best position. When you go to an estate agent looking for a property, the first thing they will ask is, have you been prequalified for a mortgage? Getting this arranged is simple and will help you set your property budget.

We’ll make sure you know exactly what purchase price you can go to, how much deposit you need, what the costs are going to be. Your agreement in principle pushes you up the queue ahead of somebody that hasn’t got one in place.

We’re a great help to First Time Buyers too, especially as everything’s quite new to you. This is the biggest investment of your life,  so part of my job as a broker is to be there to hold your hand throughout. We can help you find a solicitor. We can help with the estate agent and make the whole housebuying process as smooth as possible and take away some of the stress.

When should I see a mortgage broker?

The best time to speak to someone like myself is at the earliest point possible, as it just puts you in the best position. You’ll know exactly what sort of purchase price to go to. And you’ll have that peace of mind of an agreement in principle from a lender. You’ll have confidence about making an offer on a property and be halfway there to getting the mortgage.

Can you help somebody if they’re based somewhere other than Wolverhampton?

Technology makes it a lot easier. There’s no restriction on area. We can help anybody at any part of the country. Obviously, I’m based in Wolverhampton, which is great for me, but I can help on enquiries from anywhere else in the country, and I do often.

I’ve dealt with people in many different areas. We can do everything now by email, Zoom calls, telephone, whichever suits the client.

Why is Wolverhampton a popular place to live and buy property?

I’ve lived in Wolverhampton all my life – I was born and bred in the Black Country. The people are great, ever so friendly here. And as for purchasing properties it’s a great area, the prices are good.

There’s lots of investment going on in Wolverhampton at the moment, with rail links and with being close to Birmingham plus HS2 coming in. So for any potential investors looking at Buy to Let, it’s a great place to look for a property.

Tell us more about The Mortgage Store Wolverhampton?

I’ve been a broker now for 18 years, and I’ve seen a lot of change in that time. When I started, mortgages weren’t even regulated. We’ve gone through the financial crash, which was obviously difficult.

I’ve got a lot of experience with various types of mortgages, but The Mortgage Store Wolverhampton is new and a very exciting venture.

I’m really looking forward to meeting new people and helping them on their mortgage journey. There’s so much information, that just having someone there that can explain it to you, I believe is always a benefit.