Belgarum would advise, without a question of doubt, to go through a broker every time.
I hear you ask why..? Well, for one thing, there are, incredibly, something like 13,500 different mortgages currently available, if you include buy to let products. And that is far, far too many to research, if like most of the population lead very busy work, social and family lives. You are really much better off using a professional intermediary to find the best deal to suit your particular needs and circumstances.
Perhaps even more important is the fact that lenders tend to deal with brokers significantly more quickly and efficiently than they do with private individuals. Of course, this may be partly down to the fact that brokers are a source of significant amounts of business. But there's also the obvious point that brokers are simply far better equipped than either you or your estate agent to deal with lenders and help smooth out any complications that might arise with your mortgage application.
As estate agents we deal with these situations all of the time and we regularly see how woeful the level of service can be from some lenders, and brokers spend hours on the phone chasing cases that really should just go through without any issues. Most agents have tales of transactions that hit all sorts of problems or fall through completely, simply because the buyer has tried to deal direct with the lender. What tends to happen is that as a result of all the delays with the mortgage application (about which, of course, the agent is equally in the dark), the vendor starts to question the bona fides of the buyer, loses patience, and ends up instructing the agent to put the property back on the market again.
All in all then, it is far better to use a broker than try to handle things yourself. Better still, use a broker who comes recommended by either your agent or friends/family who have prior experience with a particular broker. Belgarum are members of The Guild of Professional Estate Agents who are affiliated with London & Country Mortgages who are the UK's largest independent fee free mortgage broker.
We can hand on heart recommend London & Country, I for one used them on my recent purchase (not connected to Belgarum at all) and I was really impressed with their service in finding me a selection of great offers and then the speed which they turned the mortgage offer I had selected, once they had advised on each of them, around.
Belgarum would say that it is always best to use a professional advisor but it is infinitely better to use a professional advisor, in such a complex business as a property purchase, with a broker where there is already a working relationship established. This helps avoid all those unfortunate delays and misunderstandings which can otherwise all too easily occur.
If you would like to speak to an advisor about a new mortgage or a re-mortgage then please contact Belgarum on 01962 844460 or email enquiries@belgarum.com to put you in touch with the relevant advisor and one that we would recommend to best suit your needs.
