It’s rare that we talk explicitly about the benefits of using a mortgage broker. And, as a Guildford mortgage broker that helps hundreds of people each month apply for a mortgage, we’ve noticed that there are now less people asking ‘why should I use a mortgage broker?’ and more people saying ‘why wouldn’t I use a mortgage broker?’.

The recent surge in the number of people choosing a mortgage broker over going it on their own is, we feel, down to the economic turbulence created in October last year. After all, when UK mortgage rates are stable or, even better, going down, and there’s a plethora of options available, people tend to have more confidence in their own ability to get a mortgage.

However, when mortgage rates begin to increase – or suddenly increase, as was the case towards the end of last year – then they tend to feel more comfortable handing the job over to a professional.

But there are still a small number of people who, at best, don’t fully understand what a mortgage broker does. At worst, some think that mortgage brokers are nothing but an unnecessary cost. So, to blow the trumpet of our team of Guilford mortgage advisers – and mortgage advisers across the UK, for that matter – here are our top four reasons for using a mortgage broker.

1. Lost time is never found again

Applying for a mortgage takes time. Sometimes it can even take a lot of time. Our team of mortgage brokers in Guildford don’t worry about allocating several hours of their day, five days a week, to the mortgage application process – because that’s their job. But if you’re having to speak with lenders on a regular basis in order to get a mortgage, then you’re soon going to become frustrated. Spending several hours on a mortgage application is time you’ll never get back, so hand it over to someone who’s trained (and paid) to do it. 

2. One call, multiple opportunities

So, we’ve just covered the point about time. But imagine multiplying that by two, three or even more lenders. When applying for a mortgage yourself, you have to do all the interviews, all the calls and submit all your paperwork every time you meet with a lender. If you use a mortgage broker, you just do it once. A good mortgage broker will have access to multiple products from multiple lenders. The best mortgage brokers in the UK (and we’d like to put ourselves in that category) will often have access to exclusive products – or even an exclusive panel of lenders – that simply aren’t available on the high street.

3. Leave it to the experts

We’ve said it before, but when there’s a fault with your car’s engine, you go to a mechanic. If you need a new kitchen, then you’re quite likely to employ the services of a kitchen fitter. So, it makes sense that if you’re buying a Surrey property, you’ll do well to find a Surrey mortgage broker. We all have our areas of expertise. Ours is not only getting our clients a mortgage (which in itself takes knowledge, experience and perseverance) but getting the best UK mortgage deals available at any given time.

4. It might not cost you a lot (and there’s no catch)

The biggest barrier to using a mortgage broker might just be the cost. Us Brits simply don’t like the idea of paying for something that we feel we can do ourselves. However, a fee in the short term is likely to bring benefits in the long term. Complete Mortgages, for example, charges a fee but in doing so the client is likely to save thousands of pounds in return by accessing the best mortgage deals.  Combine that with 1, 2 and 3 above and we think you’d find it hard to not agree that this is money well spent.

Still unsure about the benefits of using a mortgage broker? Then get in touch – there are many more to cover off. But if you’re looking for help (and for a mortgage broker in Guildford), then arrange a consultation with one of the team by calling 01483 238280 or emailing info@complete-mortgages.co.uk.