If you’re hoping to buy a property or remortgage your existing property in Brizzle, finding a reliable mortgage broker service should be the first item on your checklist. From checking your eligibility for different products to finding the lowest interest rates, the support of a dedicated professional can make the entire process a whole lot smoother.
Given that the average property price in the city currently stands at over £383,000 while interest rates have significantly increased over the past 12 months, it’s imperative that you secure the best terms as a borrower. Here’s how you can find the best mortgage advice in Bristol to ensure that you do.
Look for whole of market mortgage brokers
Before analysing individual mortgage brokers, you can significantly narrow your search by working exclusively with whole of market advisors. There are many reasons to work with this type of mortgage broker Bristol expert, including but not limited to;
- They have access to the largest range of products, which represents the entire market rather than a single lender’s residential mortgages.
- Whole of market mortgage brokers work for you and are fully committed to finding the right product for your needs rather than supporting a lender.
- They have the opportunity to find mortgage products even when your credit score or other factors could hold you back.
Working with a whole of market mortgage broker ultimately ensures that you gain access to more products while also saving valuable time and avoiding the threat of making multiple hard credit searches. Better still, it will allow you to enter the process with 100% confidence that you won’t miss out on the best product.
Use Google Reviews to find local mortgage brokers in Bristol
Google remains one of the most powerful tools at your disposal, not least when you search for “mortgage advice Bristol”. While a Google ranking alone doesn’t determine which provider is the area’s best, your search is useful for many reasons;
- Reading customer reviews should give you an honest insight into the broker’s capabilities and client care.
- A strong SERPs ranking suggests that the company has a good marketing budget and has operated as a mortgage broker for some time.
You already use Google to begin the consumer journey or educate yourself on a range of topics. It would be very naive to overlook its role in researching residential mortgages or finding a trustworthy mortgage broker Bristol service. While it’s fine to work with national firms, checking that they are equipped to help you master the local market is vital.
Ask for recommendations
Do you have a friend or relative who has recently completed a property purchase in the local area? If so, you should have no hesitation in asking them which mortgage broker Bristol company they used. You can discuss a range of topics like;
- Did the mortgage broker search a range of products including both variable and fixed rate mortgages while explaining them in detail?
- What was mortgage advice Bristol service supported by transparent communication and good availability?
- How quickly did it take the mortgage broker to progress the application through the stages of eligibility, securing a mortgage in principle, and actually exchanging?
It is an unrivalled chance to gain honest insights from a person you trust. Whether they recommend the firm or advise you to steer clear, it can be a very useful step to finding the best mortgage broker. An estimated 55% of Bristol properties are owner-occupied. So, you should know at least one person who has used a local broker.
Learn about how they provide their service
It’s really important to look for a mortgage broker who is going to take the time to get to know you and understand your situation in it’s entirety.
- Look for a broker that has that personal touch, it will pay dividends in the long run.
- Does the mortgage broker utilize technology to make the process smoother?
- Is the mortgage broker expecting to come to your home, take up lots of your time and give you multiple forms to fill in?
- Will the mortgage broker be able to complete the entire process remotely so that you never need to waste time taking physical documents to them, doing in-person ID checks or signing document?
- Will you be dealing with one broker throughout the duration of the application or will they be passing you between departments?
All of these factors can make a big difference to the ease of the mortgage application process.
Discover how much work they will do
First and foremost, you’ll hire a mortgage broker because you want to gain a product that delivers the lowest interest rates. However, a more comprehensive service can also save you a lot of time and hassle throughout the process. You should consider;
- Is the mortgage broker simply showing the different products available or will they help you find the right one for your needs?
- Will the mortgage broker actively complete the admin and chase the mortgage lender on your behalf?
- Is the mortgage advisor in Bristol able to provide some insight into other tasks or connect you to the right people?
While one mortgage applicant will have different needs from another, most will prefer an in-person or phone consultation over an online-only service. Crucially, though, the mortgage broker should provide clear information on what to expect from their service. This way you’ll be better positioned to make a calculated and confident choice.
Speak to the broker directly about fees and more
Finally, you should always speak to a prospective mortgage broker in Bristol before making a commitment to their services. Brokers usually earn their commission directly from the lender, but you should ask about any consultation fees. You will also want to ask;
- Whether they will advise you about any direct-only mortgage deals that may be available to you.
- Confirm that they are FCA-regulated and ask about any other memberships, awards, or accolades that support their track record.
- What type of residential mortgages (or commercial mortgages) they actively look for as a whole of market advisor.
Above all else, this initial consultation allows you to gain a gut instinct and determine whether it’s the right service for you. To find out more about our mortgage broker services in Bristol, get in touch with our friendly mortgage advisors today. The road to securing the best mortgage starts now.
