Top reasons to use a mortgage adviser: they will save you hassle, time and money
Independent mortgages advisers save you hassle
An independent mortgage adviser will be able to help you understand how much you can borrow and how much you can afford to repay each month. Importantly they are able to ‘pre-check’ your finances, reducing the chance of a later decline harming your credit file.
They can also help you to liaise with estate agents, lenders and solicitors to keep your life as simple as possible.
You will also benefit from FCA protection and access to the FOS in the unlikely event that anything goes wrong.
Getting independent financial advice will save you time
They will search the whole of the market to find you the best deal, a time consuming process for you to do alone.
They will complete and check any applications and paperwork saving you time filling in unfamiliar forms.
At Oury Clark we are also able to advise on mortgage and life protection which may be mandatory for certain types of loans, as well as being able to ensure your overall finances are on a sound footing.
Why using a mortgage adviser will save you money
They are likely to have access to ‘intermediary only lenders’ which individual retail customers can’t access, In addition many lenders offer ‘intermediary exclusive products’. This means that by using a Mortgage Adviser you have access to the whole market and the opportunity to get the best deal for you.
How long does it take to get a mortgage?
Everyone’s situation is different but we have compiled a rough guideline to the length of time from initial meeting to property completion below:
Product Switch - typically this can take less than a week with the same lender
Remortgage - between 4 and 8 weeks depending on lenders requirements
Property Purchase - between 8-16 weeks as many variables are involved
What is the process for getting a mortgage using an independent mortgage adviser?
Typically this is a simple six step process which we can guide you through:
Initial Fact Finding Meeting (normally 30 minutes) to find out about you and what your goals are
Collate Documentation - we will gather all the documents we need and pre-check them to ensure they are up to scratch for lenders
Search the Market - we look at the entire market to find the right lender for your needs and circumstances
Agreement in principle - we ensure that we have locked in your rate and lender so that you can begin to move on the property that you want
Finalise offer paperwork - we work with the lender to ensure that the process from application to offer is as fast as possible
Lender issues offer - your solicitor does the rest
What information and documentation do I need to speak to a mortgage adviser?
For an initial consultation a mortgage adviser is going to be looking to answers to the following questions in order to understand you better:
Where you want to buy and how much would you like to spend
Your income and from what sources, with supporting documentation such as 3 months payslips or 2 years SA302s
Your expenditures and liabilities - usually 3 months of bank statements
What kind of deposit you have - again with supporting documentation such as bank statements
Two forms of ID one to show address the other some form of photo ID.
Need personal mortgage advice?
The process of getting a mortgage can be confusing, especially if you are a first time buyer or looking to invest in property via buy to let for the first time. We pride ourselves on giving clear, straight talking advice that gets you where you need to be.
Our independent mortgage advisers are here to help you cut the hassle, save you time and get you the best deal possible.