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What do Mortgage Brokers Offer? Are they (Mortgage Brokers) Really Necessary?

Whether you’re a first-time buyer, self-employed or looking to remortgage your property, getting
a good mortgage deal is probably top of your list of priorities.

You could spend hours scrolling through comparison sites, frantically searching for the best lenders’ deals and offers while trying to gather your own paperwork.

Or you could do the sensible thing and get a professional’s help.  
In this blog, we look at why a mortgage broker could help you get the best deal and in the
process help you buy your dream home while saving you time and hassle.

Help with your budget

There are plenty of online tools that can tell you what you can afford and how much you’ll be
paying every month when you get a mortgage. But there’s nothing like speaking to someone who
lives and breathes mortgage deals to really understand your budget.

Mortgage brokers are qualified financial advisers (QFA), they can break down your monthly
expenditure and examine your outgoings in detail. Their advice could help save you money,
reduce those (unwelcome) costs you may not have accounted for, and provide you with personal
advice to suit your individual financial situation.

Breaking the jargon down….

There are so many mortgage variations with lots of jargon that can get confusing. From variable
to fixed, tracker rates, early repayment penalties… use a broker’s knowledge to your advantage
and get them to explain what everything means.

Let the Mortgage Broker do the hard work

Getting a mortgage isn’t always a straightforward process. Lenders need lots of information,
which can be overwhelming alongside your work and family etc.
A mortgage broker does the hard work for you. They’ll ask for all your essential paperwork
(such as identification, proof of address, payslips and so on) ahead of time so they can get on
with the application on your behalf.

Access to more deals

Brokers not only have access to the usual banks but also to more specialist lenders, or to those
that may not be easy to find through a Google search. They have years of experience working
with lenders and could even be able to negotiate a better deal on your behalf.

In the current volatile mortgage market, a broker’s

Improve your chances of approval

Mortgage brokers will start by understanding your financial situation (an absolute must if you’re
self-employed or have an unusual credit history). By doing this, they’ll be able to present your
information in a way that helps a lender assess the risk you pose as a borrower and hopefully get
you approved for a deal that may have otherwise been unlikely.

And if the worst happens and you’re not approved for a loan, they may be able to suggest other
lenders that could look at your situation more favourably.

The information in this article is only to be used as a guide. Mannix Property Services advises all
parties to seek professional advice from a mortgage broker / financial advisor, it is too big a
decision to leave to chance.

Thinking of selling or leasing your property in Kerry and beyond?

We at Mannix Property Services sell and lease properties across Kerry and beyond.
Please register your details here and our Client Services department will be in touch to see
how Mannix Property Services can help. Alternatively, call Brendan on 086 050 8804
Check out our blogs section for sellers tips, buyers tips, market updates and advice on how
to prepare your property for sale to ensure it achieves a top price.

If you wish to contact MC Financial for further mortgage broker advice, their contact details are:
01-822 8022 / 087 932 1882 or email:

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