There is always the question of whether to go with a mortgage broker, or directly through the bank, when you are applying for a mortgage. There are of course pros and cons for both, but ultimately it is the individual’s decision. Read on to find out more about your options.
Starting with the basics, mortgage brokers are there to guide you through your mortgage application, acting as a middle man between yourself and the bank you are/want to lend from. They will help to put together your application, get your documents in order and so on. Banks do this too, however mortgage brokers are not bound to one bank. They can shop around to find the best deal for you and your situation. Especially if you are someone with adverse credit, or who has been turned away by mainstream banks – a broker can help to find a lender who will accept your circumstances.
Pros of Mortgage Brokers: