How to find the right Mortgage Broker
Buying a home can be one of the most significant financial decisions you'll ever make. Unless you have enough cash to purchase a property outright, you'll need a mortgage to finance the purchase. This is where a mortgage broker comes in. A mortgage broker is a licensed professional who can help you find the best mortgage deals based on your financial situation and goals. However, not all mortgage brokers are created equal, and finding a good one can be tricky. Here are some tips to help you find a reliable and competent mortgage broker:
Ask for Referrals
The first step in finding a good mortgage broker is to ask for referrals from people you trust. This could be your friends, family members, or colleagues who have recently purchased a property and used a mortgage broker. Ask them about their experience and whether they would recommend their broker. Our business is built on referrals and recommendations.
Research their Experience
Find out how long the mortgage broker has been in business and their experience in the industry. A seasoned mortgage broker with a track record of successful transactions is more likely to have the knowledge and connections to find the best mortgage deals for you.
Look for a Broker who Listens to You
A good mortgage broker should be a good listener. They should take the time to understand your financial situation, goals, and preferences. They should also be patient and willing to answer all your questions and concerns. If a broker seems dismissive or pressuring, it may be a sign to look elsewhere.
Compare Rates and Fees
Mortgage brokers make money by charging fees for their services, which can vary widely. Make sure to ask for a breakdown of their fees and compare them with other brokers. Most importantly, check when the broker will charge their fee, is it upfront, in stages or when the job is done? Here at Sturgess we do not charge until the Mortgage has been Approved in full.
Read Reviews and Testimonials
Check the mortgage broker's website for client reviews and testimonials. This can give you an idea of their level of service and expertise. Also, search for reviews on third-party websites like Facebook, Google, or VouchedFor.
Trust your Instincts
Finally, trust your instincts when choosing a mortgage broker. If you feel uncomfortable or uneasy about a broker, it may be a sign to look elsewhere. You should feel confident that the broker is working in your best interest and has the knowledge and expertise to help you find the best mortgage deal for your needs. Here at Sturgess we pride ourselves on putting People and Property together and making the process as stress free as we possibly can.
Finding a good mortgage broker takes time and effort, but it's worth it in the end. By following these tips, you can increase your chances of finding a reliable and competent broker who can help you achieve your dream of homeownership. We’d recommend Sturgess Mortgage Solutions, of course!