Banks Taking Too Long for a Mortgage

It’s an exciting time arranging a mortgage for a new property. It’s the first step on the ladder to achieving your property – securing the finance. So, it’s not surprising that you would wish for the process to run smoothly and quickly.

Many people are turning to a mortgage broker for assistance in arranging a mortgage because waiting times going directly to the bank are sometimes over 6 weeks for an initial appointment. The recent changes in the mortgage market mean lenders offering direct to consumer financial products have to do a lot more work to remain compliant when selling mortgages. This means it can take longer to arrange a mortgage via a bank than through a mortgage broker.

This has led more people to contact a mortgage broker, but there are other benefits of using a mortgage expert.

Reasons to Use a Mortgage Broker for your Mortgage

We’ve listed our top 5 reasons for using a mortgage broker when applying for a loan for a property.

  1. Get the best deal: Your advisor may be able to obtain a mortgage deal which is not currently available on the high street.
  2. Get advice: When you’re applying for a mortgage it’s vital to select the provider you have the best opportunity being approved by. Failure to be accepted would leave a “footprint” on your credit file and it could make obtaining your mortgage harder when to apply with another lender.
  3. Hassle-free: Your financial expert will do all of the leg work for you, saving you the frustration of sourcing and applying for your mortgage.
  4. Speed: A financial advisor at The ER Network can usually meet with a client within 48 hours and get the process underway quicker than going directly.
  5. Application: When your application is ready to be submitted your financial advisor will ensure the necessary documentation is completed, giving you the best chance of being approved for your mortgage.

If you would like to speak to a mortgage advisor you can contact The ER Network and we can organise an appointment for you with a qualified mortgage expert.

You can call The ER Network on 0141 243 2475.