What Does A Mortgage Broker Do?

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What Does A Mortgage Broker Do?

Ross Joyner from Whitemark Mortgages introduces the company and explains the role of a mortgage broker.

What does a mortgage broker do?

In simple terms, we advise you and source the correct mortgage given your circumstances and situation, depending on what you’re trying to achieve.

What’s the difference between going to a mortgage broker vs your local high street lender?
If you went to your high street bank, they only have one set of products available and one set of criteria. A broker will look at your situation and circumstances, then explore a wide range of different lenders and banks to choose from.

What services does a mortgage broker offer?

After our initial consultation we submit the application on your behalf and then we liaise with your estate agent and solicitor to make sure everything’s running smoothly.

Can you help with an Agreement in Principle?

An Agreement in Principle basically checks your affordability and makes sure the criteria fits your circumstances. It gives you an idea of what you can borrow, so you can go house hunting with full confidence – you know that when you do put in an offer, you can proceed with the mortgage.

Do people come back to you for remortgaging or to look at Buy to Let?

Absolutely, yes. We have clients we’ve been dealing with 10 years plus now. We end up getting to speak to them every two or three years to see how things are going. It’s nice to keep in touch.

Do you support clients with mortgage protection?

Yes – as part of the process we will look at protecting the home. So if the worst was to happen, we make sure you can remain in your property. That could be life insurance, income protection or critical illness cover so that whatever does happen, you get to keep your house.

Some buy to let mortgages are not regulated by the Financial Conduct Authority 

Speak To an Expert

Even if you’re just started the process or you’re just thinking about moving or buying a home, it’s worth giving us a call. We’ll give you an idea of what you can borrow and what everything will cost. You can put a plan in place if you’re not quite there yet.

At what stage should I see a mortgage broker?

As early as possible – even if you’re just started the process or you’re just thinking about moving or buying a home, it’s worth giving us a call. We’ll give you an idea of what you can borrow and what everything will cost. You can put a plan in place if you’re not quite there yet. The earlier, the better: always.

Tell us a bit about Whitemark mortgages?

We’ve been going for about four or five years now. Prior to that I was working as a mortgage broker in the family’s financial services company. That’s how I got started, and I broke away about five years ago and set up on my own.

It’s just myself and my administrator Chloe who holds it all together. It’s just the two of us – and we are actually childhood friends. We’ve known each other a long time. We socialise at the weekends, our kids are friends, and we spend a lot of time together.

Does it cost for an initial consultation with you?

No – the initial consultation is fee free. You can give us a call or send us an email at info@whitemarkmortgages.co.uk, or use the contact form on our website and we can give you a call.

Think carefully before securing other debts against your home.

You may have to pay an early repayment charge to your existing lender if you remortgage.

The Financial Conduct Authority does not regulate most Buy to Let Mortgages.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.