If we had it our way, the only choice of mortgage broker would be us. That’s not true, of course. Choosing a mortgage broker – like choosing anything in life – is a basic right.
Whether you’re looking for a Guildford mortgage broker or something more specialist, such as an equity release mortgage adviser, then it’s important that your choice of mortgage broker is based on what’s right for you and your circumstances.
So, on the back of being asked ‘do I have to use our estate agent’s mortgage broker?’, we thought we’d put the record straight – and the answer is ‘absolutely not’.
There are of course a number of benefits of using a mortgage broker that’s partnered with an estate agent. A strong relationship between agent and broker often means that things tend to move along a little quicker. And, where there are delays, good relationships often mean that you can be a lot more direct when it comes to chasing things up.
We even have the same arrangement with a number of Surrey estate agents. For example, we provide mortgage brokerage services for Seymours, Cobbles, Maison Partnership and Monochrome Homes. However, using Complete Mortgages isn’t our partnering estate agents’ condition of purchase, or part of our terms of business; it’s simply that seconding our specialist Guildford mortgage advisers to estate agents who don’t want to commit to employing a full-time mortgage broker suits both parties.
In fact, it is illegal for an estate agent to insist that their clients use a specific mortgage broker – so if you’re being pressured to do this, then that estate agent is breaking the law.
If you’ve starting working with an estate agent’s partnered mortgage broker but aren’t, for whatever reason, happy (whether it’s their service levels or you just don’t like your particular broker), then you are well within your rights to go elsewhere.
If you are looking to replace your mortgage broker, then you really need to know what to expect as a very minimum. From our perspective, you should make sure that they:
1. Have access to a comprehensive range of mortgage lenders
2. Are transparent about how they charge
3. Outline everything that they will be doing as part of the process (and establish what’s expected of you)
4. Are trustworthy
Not only do we tick all of those boxes, but we’re also award-winners, too. And, whilst that’s not essential, it’s a ‘nice to have’ and something that continues to reassure our clients.
If you’re unhappy with your estate agent’s designated mortgage broker and looking for a second opinion, contact the Complete Mortgages team on 01483 238280 or e–mail info@complete-mortgages.co.uk.
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