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Mortgage Broker Based In Skegness, Lincolnshire
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First Time Buyers
Buy To Let
What Does A Mortgage Broker Do?Hear Richard talk through what to expect if you choose to work with a mortgage broker and how it can help you get the most suitable mortgage deal.
Essentially, a Mortgage Broker looks at your current situation and searches the market to find you the cheapest deal available with a lender that finds your situation acceptable.
That’s the case whether you’ve got an absolutely clean credit file or perhaps a history of missed payments, defaults or possibly CCJs on your credit file.
When you go to the broker in your local bank, they are employed by the bank and so of course they can only advise you on that bank’s products.
By coming to a broker like me, it means that you have someone in your corner. We’re fighting your case with 90 to 95 lenders. So if you’re not mortgageable with one lender we can approach others.
You’ll also find it a lot harder to get an appointment at the bank due to a shortage of people in the industry – whereas with myself and my team we can usually see you within 24 hours.
We offer a tailor made service, and we look after literally everything from the very beginning right through to picking up your keys. We keep everything in-house too, from your initial consultation to placing you with a lender, linking you up with a solicitor and sorting out your survey or homebuyer’s report.
We can also help you with your solicitor paperwork if you use our preferred supplier. We check your case on a weekly basis, so you don’t have to chase them – which saves a lot of time.
We take you through the entire process. Our job isn’t just to get you in the house. It’s also massively important to make sure that you stay in that house if things go wrong. We can provide you with buildings and contents insurance, life insurance and critical illness cover as well, which is very important.
Our clients come back to us all the time. I’m here to build relationships for the next 15-20 years and more. It’s not just my own repeat clients that I will see, but potentially their children as well in years to come.
Getting a client to the point where they pick up the keys to their new home is the most satisfying part of the job. It’s wonderful to work with young couples who are not entirely sure
what to do, and hold their hand all the way through. We give them nice easy instructions so that they always understand what’s going on in the process. Buying a home is a huge thing.
Straight away! As soon as you know you want to buy a house, come and see a broker. We assess people’s affordability so that they know how much they can borrow and the price range they need to be looking at. We also arm our clients with a Decision in Principle prior to viewing any properties. That puts you in a strong position when you walk into the house and fall in love with it.
We give you certified proof of deposit, your solicitor’s details and Decision in Principle all in one email – you can imagine how credible you then look as a buyer. You’re forearmed with all the information you need to buy a house the second you walk in.
It’s important that you come and see your broker before you start looking at properties because, let’s face it, it’s heartbreaking when you’ve got your heart set on something and it then turns out that you can’t have that property.
It’s not just about making your life easier, it’s about making the process as smooth as and stress free as possible.
Absolutely. Something that I find is that people who are less prepared can miss out. There’s little housing stock on the market and a huge amount of people wanting to buy. So you need to be prepared and ready to go.
Imagine seeing a house, putting an offer in and saying, ‘But I need to ring my broker on Monday…’ Meanwhile, the estate agent has another client who has a Decision in Principle, proof of deposit, solicitors details… which one is going to get that property?
COVID-19 meant that we had to change our business, and rather than seeing everybody face to face, we can now do everything via phone and email. For some reason people seem really happy that they don’t have to come in and see me!
It’s certainly allowed us to speed up the process and we can literally look after anybody anywhere in the country.
A face-to-face consultation is very thorough, and we can get everything done in an hour or so, but with phone and email we can keep the process going. A 20 minute phone consultation should give me all the information that I need, then it’s just down to emailing documents. You don’t have to travel or take time off work, and you can fit a phone consultation in your lunch hour or during the day.
Apart from the donkeys on the beach?! We’re in a relatively low property price bracket which is really good, especially for first time buyers.
It means two people earning £20,000 a year with a gifted deposit from parents can buy a really good quality home. You can get a great property for £140,000 to £150,000 – and live on the coast in easy reach of the beach.
I’ve been a broker for almost 7.5 years now. I had a little break from the industry and came back nearly five years ago. I started off as an advisor going through an Appointed Representative company and set up on my own in 2021.
It’s been a lot of work to achieve that and we now have a good solid reputation. We haven’t advertised in any way – it’s purely been word of mouth up until now.
Absolutely not. I’m not an accountant or a solicitor that thinks that they should get paid for every single minute that they’re helping people. My main mission is to help as many people as possible make their dreams come true. Charging just for a consultation is counterintuitive to that – it’s putting up a barrier to people coming in.
What we do is have an initial consultation via the phone or you can come in. I’ll do a full assessment of your case and get you the best deal for your situation. I will give you all the information you need to make a decision.
It may be that after this information you decide not to go ahead yet, but if you do proceed, we ask for a fee of £195 to get you the Decision in Principle. If that runs out because you haven’t found the right property, we just get you another one – and we don’t charge for that.
When you find a property, we do the formal application: it goes through underwriting and valuation and if everything is good we get the mortgage offer. I’ll then ring the clients and we have a little celebration on the phone! There is also a final payment at this point, which you will have been told about right from the start.