There’s a lot to getting a mortgage. First you’ve got the dreaded deposit to save for – though the Central Bank has made it a little easier for first time buyers with a 10 percent deposit regardless of the price of the house.
Once your saving is underway, you have to decide the kind of house you want (and what you can afford). And after that you’ve to choose the kind of mortgage that works best for you.
If you’ve made up your mind to buy your first home, embarking on the mortgage journey is so worth it. Like many journeys though, it’s often better to have some company on the road, which is why you may consider using a mortgage intermediary.
With so many banks and lenders offering mortgages, it can be hard to choose which one to go with. That’s why a mortgage intermediary can be a life-saver – or certainly a sanity-saver at the very least.
Here are five advantages of using a mortgage intermediary:
They know what they’re doing – and how to do it
Your mortgage intermediary knows the mortgage market inside out. Getting the best mortgage for their clients is their bread and butter, and they're dedicated to the task. So while you may be buying your first home, they have been there before for many clients and know how to guide you smoothly through the process.
They’re independent and unbiased and want the best deal for you
Mortgage intermediaries are independent – they're not affiliated to any one lender or banking institution, so you know you can trust them to find the best deal for you and your circumstances. They can shop around on your behalf, utilising all their professional know-how and contacts to find the mortgage that is the best fit for you.
A mortgage intermediary will look after the paperwork
If there’s one thing you’ll be delighted to have taken off your hands, it’s undoubtedly the mortgage paperwork. Getting together all the necessary documents and applying to lender after lender is an exercise in supreme patience.
A mortgage intermediary will be able to take the stress out of that for you by looking after all those bits and pieces, getting them into order and supplying them as needed to the lenders. They can speak directly to lenders on your behalf, and deal with requests for additional information too.
A mortgage intermediary will save you time
Not only will the mortgage intermediary have all the information you need, they’ll deal directly with lenders on your behalf – which saves you time. Instead of having to tackle a list of mortgage tasks on your lunch break or after work, you have someone with expertise taking care of it for you.
A mortgage intermediary can support you through the process
It can be a pretty hard slog getting all your ducks in a row for the lender, never mind any other official documentation or necessary checks that need to be taken care of. The mortgage intermediary has done all this before, many times, and knows exactly what’s required at each and every stage of the mortgage process.
They’re there at the end of the phone or email to help you with any queries you might have no matter how small. Who doesn’t want that support when going through one of the biggest purchases you’re ever likely to make in your life? Not you, right?
So, there you have it. Five excellent reasons to use a mortgage intermediarywhen you’re looking to get a mortgage.
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Haven can make your mortgage application easier by handling all the tough stuff.