Remortgage season is upon us and already there are £100 billion in balances sitting at a rate of 3.75% and above. When you consider the fact that a further £82 billion in mortgage balances mature between October – December 2018 then you can really begin to see why considering your options sooner rather than later could save you a lot of money and we are here to help!
That’s right, a whopping 70% of the UK are now choosing to approach intermediaries rather than go directly to lender’s themselves but why exactly is this? There are several factors to consider when looking at why mortgage brokers have increased their market share to just over 71%.
At Specialist Mortgages, we are approached by clients daily because our aim is to always find you the best deal in the marketplace. If you go directly to a lender they can only advise on their own products which means you could potentially be missing out on a better rate elsewhere. As a whole of the market broker, we can analyse the entire UK market to find the best deals.
In addition, we have access to a number of broker-only exclusive deals which have lower rates than the lenders offer on direct applications.
The people of the United Kingdom are leading increasingly busy and more hectic lives and while looking for a mortgage can be exciting, it can also be pretty stressful due to the fact that it can be a long and drawn out process. A mortgage broker can streamline the entire process while acting as your one point of contact.
We will only ever charge our brokerage fee (typically £295-£495) on the successful production of your mortgage offer and we will always base our advice on what’s best for your circumstances, not the deal that will give us the highest commission.
If your mortgage deal is coming up for renewal then it could be time to start assessing your options. As we have stated, it may be tempting to remain with your current lender for the sake of simplicity but you could be missing out on a superior rate. A mortgage broker such as ourselves could help you find a better deal.
Remember we will only charge if we secure you an offer and we can help first time buyers, homeowners, portfolio landlords and we can even source property development and commercial finance as well. Give us a call on 0345 873 1234 or make an enquiry at info@specialistmortgages.uk.com