Like a good percentage of young British people, your goal is to own your own home at some point. But the UK housing market, especially after the uncertainty caused by Brexit, has undergone a gradual rise that, for many people, has crushed their dreams of purchasing a home at an affordable price. Therefore, one solution for most of us is to turn to mortgages. But these, in many cases, can be an unfavourable financial recipe, which can turn into a real black hole from which it can be complicated to get out. For your peace of mind and that of your family, it is best to call in the professionals. And this is where the specialised services of companies offering mortgage advice in Liverpool can be invaluable.

Why should you use a mortgage broker in Liverpool? In large part because you most likely don't have the necessary experience to find the best deals for your situation alone. A specialist broker could work with you and find the best financial options for your family. Are you, for example, a self-employed person and have difficulties finding a lender who can offer a mortgage on favourable terms? A specialised broker could guide you and design your application in such a way as to increase your chances of being approved for the amounts you want. But you are the person who needs convincing. So, in the next few minutes, we'll look at some of the behind-the-scenes aspects of mortgage deals in the UK and explore how a specialist broker can help you in more ways than you might think.

Save Time and Money

Liverpool is a large city with a population of over 400,000, making the region's property market a hotly contested business in which it is difficult to find a competitively priced offer. A pound saved today could translate into ten saved in the future, and the mortgage offers you receive could be crucial to your family's financial comfort. Why would you seek professional mortgage advice in Liverpool? For one, you should do it because an experienced broker will have access to many lenders and can compare the best offers for your situation instantly.  Brokers have access to databases inaccessible to private individuals, which can translate into better interest rates and lower up-front costs for the client.

Furthermore, you should also consider the experience of the person handling your case. A reputable mortgage broker could use their expertise to guide you through the mortgage application process and handle all the paperwork necessary to ensure that your application ends with a positive response. A broker can help ease your mind, and the time you save could be directed towards the essential aspects of your life. Last but not least, mortgage consultants are risk-free. In many cases, the commission will be paid directly by the lender. Since you are benefiting from a financially advantageous offer through them, it is most likely that your entire call to a professional will not include any additional costs. It is, if you like, a win-win situation for all parties involved.

What If I Am Interested in a Remortgage?

Hundreds of thousands of remortgage applications are approved annually in the UK, and there are plenty of reasons for this. Firstly, your financial situation may have changed from when you first took out the mortgage. A professional broker could help you remortgage your home at a value that translates into lower interest rates and released equity. A remortgage of your home can help you stay in tune with the economic trends of the times and can be a way to gain increased flexibility in your financial statements.

If you have active debts, such as credit card dues, you can use a remortgage application to consolidate them into your mortgage plan, which will result in lower interest rates in the long run. But why would you use a mortgage broker in Liverpool for your remortgage application? In short, you should use a broker because they have the experience needed to make the best financial decision for you. A firm specialised in mortgage advice will have access to offers from a diverse group of lenders, will be able to handle the paperwork necessary for the remortgage process, and could take decisions that will allow you to benefit from the lowest interest rates on the market.

What If I Have a CCJ in My Name?

If you have a County Court Judgment in your name, obtaining a mortgage will automatically be more difficult. CCJ signals to potential lenders that you are a late payer who has yet to respond to the default notice sent by the previous creditor. Once you have an active CCJ, your credit score will be significantly affected, and you will most likely need to pay off your debt in full before you can get a mortgage on favourable terms.

Calling a company specialising in mortgage advice can be crucial to finding ways to improve your credit score. Specialist brokers have the expertise needed to locate in their databases lenders willing to offer you a mortgage on suitable conditions. However, it should be mentioned that both in Liverpool and elsewhere in the UK, a CCJ is a checkmark that is hard to ignore, and you will most likely have to pay a more significant interest rate or place a larger deposit, generally over 10% of the market value of the home if you want to obtain a future loan.

Make the Right Financial Move

Calling a mortgage broker is not only a wise decision that can help you financially but can even be an invaluable aid to guide you in your future endeavours. A professional mortgage counsellor could help you find the right type of mortgage for your needs, could handle the entire process from researching to applying, and last but not least, could offer their expertise to discover with you the right course of action for your specific needs.

A mortgage is one of the most important financial decisions we can make, and it's crucial to do all our homework before turning to a lender. A professional broker could help you save tens of thousands of pounds in the long run and can be a crucial partner in your family's financial development. In addition, mortgage consultants often get their commission directly from the lenders who will borrow your money, so in terms of return on investment, using the professional services of a broker can only help you.

Publication: 11/05/2023 13:35