How Credit Affects Mortgage Rates

People who have bad credit, wrongly believe that obtaining a mortgage now is better than renting a property until they clean up their credit. Before you get a home loan, discover how credit affects mortgage rates in Florida before deciding to become a rent payer.

It is important to keep your credit clean just as it is important to keep fit and healthy. But at best of times, you may still fall ill. The same thing happens with credit history. No matter how hard some people try, sometimes a situation gets out of hand and they miss a loan or credit card payment. This is how a bad credit is created and as a result qualifying for home loans becomes rather difficult.

But you do not need to worry as there are still many options for people who have bad credit. Normally if you have missed a payment that was due within 30 days, then it is recorded on your credit report. This should not be detrimental to your future repaying abilities.

Mortgage lenders will usually investigate your credit history and if you have delayed or missed some payments they may become skeptical of your repaying abilities. So is there no chance of qualifying for a mortgage? Many lenders in Florida are still willing to help people with less than desirable credit to buy a home.

The Florida home loan program has helped borrowers with previous bankruptcies or mortgage payment arrears to get approved for FHA mortgages. They use credit quality rather than credit rating.

This program also gives the lender more options in assisting borrowers who have faced difficulty in paying their loans to get up-to-date with payments through free loan counseling. How this works is by taking late payments and moving them to the end of the next month so that the borrower has more time to pay or in some cases one payment is made for you. This is a great option to save your house from foreclosure and in the recession times, you will benefit most out of an FHA mortgage.

When it comes to purchasing your new home, the traditional way is to get a mortgage broker to approve your application for a loan. But this is not the only way to obtain finance. A mortgage specialist will be the best person to consult with. A mortgage specialist will ask you lots of relevant questions to find out your earnings potential and living arrangements. This way you will receive the most appropriate loan program that is suited for your circumstances.

Even if you have suffered from a bad credit history, there is still the refinancing option to consider. In Florida, mortgage rates have been falling and homebuyers are attracted to the lower interest rates. Lenders are now offering a variety of mortgage packages to Florida residents and even those with a bad credit history. The rates are competitive for high risk borrowers but the tolerance of these lenders has increased and now is the best time to take advantage of such rates.

Kevin Johnson writes for a Miami mortgage company which specializes in refinancing and new purchase home loans. When shopping for a mortgage in Florida it is recommended to contact a licensed mortgage originator for the lowest Florida mortgage rates.

How Credit Affects Mortgage Rates

People who have bad credit, wrongly believe that obtaining a mortgage now is better than renting a property until they clean up their credit. Before you get a home loan, discover how credit affects mortgage rates in Florida before deciding to become a rent payer.

It is important to keep your credit clean just as it is important to keep fit and healthy. But at best of times, you may still fall ill. The same thing happens with credit history. No matter how hard some people try, sometimes a situation gets out of hand and they miss a loan or credit card payment. This is how a bad credit is created and as a result qualifying for home loans becomes rather difficult.

But you do not need to worry as there are still many options for people who have bad credit. Normally if you have missed a payment that was due within 30 days, then it is recorded on your credit report. This should not be detrimental to your future repaying abilities.

Mortgage lenders will usually investigate your credit history and if you have delayed or missed some payments they may become skeptical of your repaying abilities. So is there no chance of qualifying for a mortgage? Many lenders in Florida are still willing to help people with less than desirable credit to buy a home.

The Florida home loan program has helped borrowers with previous bankruptcies or mortgage payment arrears to get approved for FHA mortgages. They use credit quality rather than credit rating.

This program also gives the lender more options in assisting borrowers who have faced difficulty in paying their loans to get up-to-date with payments through free loan counseling. How this works is by taking late payments and moving them to the end of the next month so that the borrower has more time to pay or in some cases one payment is made for you. This is a great option to save your house from foreclosure and in the recession times, you will benefit most out of an FHA mortgage.

When it comes to purchasing your new home, the traditional way is to get a mortgage broker to approve your application for a loan. But this is not the only way to obtain finance. A mortgage specialist will be the best person to consult with. A mortgage specialist will ask you lots of relevant questions to find out your earnings potential and living arrangements. This way you will receive the most appropriate loan program that is suited for your circumstances.

Even if you have suffered from a bad credit history, there is still the refinancing option to consider. In Florida, mortgage rates have been falling and homebuyers are attracted to the lower interest rates. Lenders are now offering a variety of mortgage packages to Florida residents and even those with a bad credit history. The rates are competitive for high risk borrowers but the tolerance of these lenders has increased and now is the best time to take advantage of such rates.

Kevin Johnson writes for a Miami mortgage company which specializes in refinancing and new purchase home loans. When shopping for a mortgage in Florida it is recommended to contact a licensed mortgage originator for the lowest Florida mortgage rates.

Why You Should Use a Mortgage Broker

Who Should Use a Mortgage Broker? Everyone!

What is a mortgage broker?

There are still a lot of misconceptions and misunderstandings out there when it comes to mortgage brokers and what they do.

A mortgage broker is a professional who is licensed with the Real Estate Council of Alberta (RECA). In order to obtain this credential, a mortgage broker is required to meet educational and professional conduct requirements, and complete background security checks.

How is a mortgage broker different from a bank?

A mortgage broker should never be compared to your local financial institution. The purpose and function of each is very different. An independent mortgage broker is just that-independent-meaning they have no association with any one lender. That means it's their job to offer you unbiased advice.

Essentially, they're experts who are trained and licensed in the business of mortgage financing. Their primary function is to work for you-not the lender! They shop the mortgage market for the best rate, term, and product for the consumer, but they also offer more than this-providing debt consolidation solutions and credit recovery strategies.

Best of all, a mortgage through a broker operates in the same way as the one you would get through your local financing institution. Online banking, accelerated payments, and pre-payment options are all available. It's easy and hassle-free.

MYTH#1: Interest rates through a mortgage broker are high.
TRUTH: The industry's lowest interest rates are only available through a mortgage broker.

Why should I use an independent mortgage broker?

It pays to work with a broker who will represent your interests and ensure the mortgage you get is the one that's best suited to your needs. Mortgage brokers have direct access to every major lender across Canada. Whether it's a chartered bank, trust or insurance company, or private lender, each offers different rates and product features. Most important for you to know is that many of these lenders are only accessible through a mortgage broker. You will want to ensure you get the one that's right for you.

Once you have decided where to apply, obtaining mortgage approval is often dependent on the way your application is presented and who it gets sent to. A mortgage broker is trained to present your application so it will get an immediate, positive result. The turnaround time for a broker to get a response from a lender and secure you financing can be within just 1-3 days, depending on the workload of the lender.

Who pays the mortgage broker?

Mortgage brokers get paid a "finder's fee" for residential mortgages from the lender once the deal has been completed and funded. Therefore, most brokers do not charge clients for their services. To ensure there are no misunderstandings, make sure you ask your mortgage broker upfront if the lender will be paying their fee.

MYTH #2: A mortgage broker only deals with people who have bruised credit
TRUTH: Whether you have good credit or poor credit, a broker can be a valuable asset.

Independent statistics tell the story... the use of mortgages brokers continues to grow in leaps and bounds each year as people get a better understanding of what they do.

If you're considering using a broker, ask your neighbors or friends who they know or have dealt with in the past. Get to know the broker you've selected. Are they affiliated with a lender? How do they go about finding a mortgage? If you're a busy person, ask if they will come to your office or home to talk about a lender's offer. Most importantly, ask to review your credit bureau with the broker.

Why You Should Use a Mortgage Broker

Who Should Use a Mortgage Broker? Everyone!

What is a mortgage broker?

There are still a lot of misconceptions and misunderstandings out there when it comes to mortgage brokers and what they do.

A mortgage broker is a professional who is licensed with the Real Estate Council of Alberta (RECA). In order to obtain this credential, a mortgage broker is required to meet educational and professional conduct requirements, and complete background security checks.

How is a mortgage broker different from a bank?

A mortgage broker should never be compared to your local financial institution. The purpose and function of each is very different. An independent mortgage broker is just that-independent-meaning they have no association with any one lender. That means it's their job to offer you unbiased advice.

Essentially, they're experts who are trained and licensed in the business of mortgage financing. Their primary function is to work for you-not the lender! They shop the mortgage market for the best rate, term, and product for the consumer, but they also offer more than this-providing debt consolidation solutions and credit recovery strategies.

Best of all, a mortgage through a broker operates in the same way as the one you would get through your local financing institution. Online banking, accelerated payments, and pre-payment options are all available. It's easy and hassle-free.

MYTH#1: Interest rates through a mortgage broker are high.
TRUTH: The industry's lowest interest rates are only available through a mortgage broker.

Why should I use an independent mortgage broker?

It pays to work with a broker who will represent your interests and ensure the mortgage you get is the one that's best suited to your needs. Mortgage brokers have direct access to every major lender across Canada. Whether it's a chartered bank, trust or insurance company, or private lender, each offers different rates and product features. Most important for you to know is that many of these lenders are only accessible through a mortgage broker. You will want to ensure you get the one that's right for you.

Once you have decided where to apply, obtaining mortgage approval is often dependent on the way your application is presented and who it gets sent to. A mortgage broker is trained to present your application so it will get an immediate, positive result. The turnaround time for a broker to get a response from a lender and secure you financing can be within just 1-3 days, depending on the workload of the lender.

Who pays the mortgage broker?

Mortgage brokers get paid a "finder's fee" for residential mortgages from the lender once the deal has been completed and funded. Therefore, most brokers do not charge clients for their services. To ensure there are no misunderstandings, make sure you ask your mortgage broker upfront if the lender will be paying their fee.

MYTH #2: A mortgage broker only deals with people who have bruised credit
TRUTH: Whether you have good credit or poor credit, a broker can be a valuable asset.

Independent statistics tell the story... the use of mortgages brokers continues to grow in leaps and bounds each year as people get a better understanding of what they do.

If you're considering using a broker, ask your neighbors or friends who they know or have dealt with in the past. Get to know the broker you've selected. Are they affiliated with a lender? How do they go about finding a mortgage? If you're a busy person, ask if they will come to your office or home to talk about a lender's offer. Most importantly, ask to review your credit bureau with the broker.

Why Use A Mortgage Broker?

A mortgage broker is an independent real estate financing professional who specializes in the origination of residential and/or commercial mortgages.

Mortgage brokers have the ability to obtain the best possible rate for your situation by shopping all approved lenders. Since the broker works with many different national lenders they are not forced to recommend one set of loan programs to you but can seek out many different options that are offered. Brokers do the loan shopping for you. When you apply for a loan with a mortgage broker you are effectively applying for a loan with all the lenders the mortgage broker is approved with.

Mortgage brokers obtain rates at wholesale. It costs no more to do business with a mortgage broker. In fact independent surveys have shown that in many cases the fees charged by a broker are less and the interest rate obtained is lower than if the borrower went directly to the lender. Mortgage brokers work on a contingency basis. They are not compensated until the loan closes. (Be aware. Some mortgage brokers charge a non-refundable up-front application fee.)

When working with a mortgage broker only one credit report is used. If you were to apply to multiple lending institutions for a mortgage, each lender would do a credit check. This may lower your credit score. A lower credit score could mean you may not qualify for the best interest rate possible with any lender.

A mortgage broker deals exclusively with mortgages. By combining professional expertise with access to many different wholesale lenders and hundreds of loan products, a broker provides consumers the most efficient and cost-effective method of offering home financing options while still providing individualized attention tailored to the consumer's needs and wants.
A mortgage broker represents you in obtaining financing that best fits your specific financial goals.

We choosing a mortgage broker check to see if they are members of the local a National Association of Mortgage Brokers. Check with your local Department of Banking or Commissioner of Banks to see if they have had any fines or complaints against them.
Make sure you receive a written Good Faith Estimate and Truth in Lending form when shopping among mortgage brokers.

Why Use A Mortgage Broker?

A mortgage broker is an independent real estate financing professional who specializes in the origination of residential and/or commercial mortgages.

Mortgage brokers have the ability to obtain the best possible rate for your situation by shopping all approved lenders. Since the broker works with many different national lenders they are not forced to recommend one set of loan programs to you but can seek out many different options that are offered. Brokers do the loan shopping for you. When you apply for a loan with a mortgage broker you are effectively applying for a loan with all the lenders the mortgage broker is approved with.

Mortgage brokers obtain rates at wholesale. It costs no more to do business with a mortgage broker. In fact independent surveys have shown that in many cases the fees charged by a broker are less and the interest rate obtained is lower than if the borrower went directly to the lender. Mortgage brokers work on a contingency basis. They are not compensated until the loan closes. (Be aware. Some mortgage brokers charge a non-refundable up-front application fee.)

When working with a mortgage broker only one credit report is used. If you were to apply to multiple lending institutions for a mortgage, each lender would do a credit check. This may lower your credit score. A lower credit score could mean you may not qualify for the best interest rate possible with any lender.

A mortgage broker deals exclusively with mortgages. By combining professional expertise with access to many different wholesale lenders and hundreds of loan products, a broker provides consumers the most efficient and cost-effective method of offering home financing options while still providing individualized attention tailored to the consumer's needs and wants.
A mortgage broker represents you in obtaining financing that best fits your specific financial goals.

We choosing a mortgage broker check to see if they are members of the local a National Association of Mortgage Brokers. Check with your local Department of Banking or Commissioner of Banks to see if they have had any fines or complaints against them.
Make sure you receive a written Good Faith Estimate and Truth in Lending form when shopping among mortgage brokers.

Mortgage Loans - Mortgage Brokers Help You Prequalify!

First time home buyers might be surprised how fast a deal moves in a busy real estate market and mortgage loans can take a little time to organize. An experienced realtor will advise you to use a mortgage broker to prequalify for a mortgage loan so that you can move quickly when buying a house.

Even when the real estate market is experiencing a downturn, the most desirable and/or well priced properties, located in the right neighborhoods, sell quickly. If you aren't prequalified for a mortgage it could mean a delay of a day or two, which could result in someone else scooping the home that you wanted.

Why would you let that happen when it's relatively easy to prepare so that you can move quickly when the perfect property comes on the market? If you are prequalified for a mortgage loan you can rest assured that you will be ready to secure the home of your dreams, instead of agonizing as someone else who is better prepared beats you to it.

Prequalifying for a mortgage loan will also help you figure out how much house you can afford. It would be heartbreaking to fall in love with a home that is beyond your means!

A mortgage broker will help you prequalify and can shop your portfolio around to all the lending institutions and banks to get you the best terms on a mortgage loan. Brokers are familiar with a variety of financial institutions and know where to secure the right financing options for your particular situation.They will almost certainly negotiate a better deal for you than you could get on your own!

Even a minor difference of half a percentage point makes a major difference in how much you pay over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 30 years, that's $12,600.

People who are resisting hiring a mortgage broker should really sit down and do the math...that broker could easily save you many more times the cash that you invest in hiring them! That's why many experienced real estate investors always use a mortgage broker to get the best terms when they finance a purchase. They understand that hiring a professional for this job will pay off in the long run.

Mortgage brokers will work on your behalf and on your schedule (over weekends and evenings if necessary), and unlike bank staff, are not limited to any one financial institution. This is why you can rest assured that they will offer true unbiased advice with your best interests in mind. They will do all the legwork saving you time and money, after all this is how they make their living!

So make sure you're ready to act quickly when you find that perfect first home! Ask your realtor for a referral to an independent mortgage broker who can help you prequalify for a mortgage loan, with the terms that will work for you and your family.

Geoff McLean is a realtor in Victoria BC who approaches his real estate vocation with honesty, integrity and straightforwardness. Geoff is also the primary author of a blog about his home city. Living in Victoria is a valuable source of information about the Greater Victoria area for those who are interested in moving to this beautiful city.

Mortgage Loans - Mortgage Brokers Help You Prequalify!

First time home buyers might be surprised how fast a deal moves in a busy real estate market and mortgage loans can take a little time to organize. An experienced realtor will advise you to use a mortgage broker to prequalify for a mortgage loan so that you can move quickly when buying a house.

Even when the real estate market is experiencing a downturn, the most desirable and/or well priced properties, located in the right neighborhoods, sell quickly. If you aren't prequalified for a mortgage it could mean a delay of a day or two, which could result in someone else scooping the home that you wanted.

Why would you let that happen when it's relatively easy to prepare so that you can move quickly when the perfect property comes on the market? If you are prequalified for a mortgage loan you can rest assured that you will be ready to secure the home of your dreams, instead of agonizing as someone else who is better prepared beats you to it.

Prequalifying for a mortgage loan will also help you figure out how much house you can afford. It would be heartbreaking to fall in love with a home that is beyond your means!

A mortgage broker will help you prequalify and can shop your portfolio around to all the lending institutions and banks to get you the best terms on a mortgage loan. Brokers are familiar with a variety of financial institutions and know where to secure the right financing options for your particular situation.They will almost certainly negotiate a better deal for you than you could get on your own!

Even a minor difference of half a percentage point makes a major difference in how much you pay over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 30 years, that's $12,600.

People who are resisting hiring a mortgage broker should really sit down and do the math...that broker could easily save you many more times the cash that you invest in hiring them! That's why many experienced real estate investors always use a mortgage broker to get the best terms when they finance a purchase. They understand that hiring a professional for this job will pay off in the long run.

Mortgage brokers will work on your behalf and on your schedule (over weekends and evenings if necessary), and unlike bank staff, are not limited to any one financial institution. This is why you can rest assured that they will offer true unbiased advice with your best interests in mind. They will do all the legwork saving you time and money, after all this is how they make their living!

So make sure you're ready to act quickly when you find that perfect first home! Ask your realtor for a referral to an independent mortgage broker who can help you prequalify for a mortgage loan, with the terms that will work for you and your family.

Geoff McLean is a realtor in Victoria BC who approaches his real estate vocation with honesty, integrity and straightforwardness. Geoff is also the primary author of a blog about his home city. Living in Victoria is a valuable source of information about the Greater Victoria area for those who are interested in moving to this beautiful city.

Best Mortgage Deals - Online or With a Mortgage Broker?

If you find that you are walking around in circles trying to determine what the best mortgage deals out there are then you will want to read this article. Choosing the right mortgage that meets your immediate and long term needs is a difficult task. At the end of this article you will be armed with the right information to ultimately help choose the right product for your circumstances.

Take a look on the Internet and you can find hundreds of mortgage comparison sites. This is a good starting point as they provide a feel of the current deals available and in many cases have links to pages discussing the different mortgage types, benefits and drawbacks. However a given mortgage comparison site will only show mortgages associated with the lenders they are affiliated with, so keep looking.

Not all the best mortgages deals are openly advertised and you may have to go to each lender and look at their products, deals and terms of those deals. As with any deal always check the fees, tie in period, redemption fees etc. Also check to see if there is a deadline when the product will be withdrawn. The key is to become familiar with the standard products and have a basic understanding of their benefits and potential pitfalls.

The next step is to find an independent mortgage broker who will work with you to look at your circumstances, future circumstances determining affordability. The broker will look at the whole market and draw up a shortlist of potential candidate mortgages. A good independent mortgage broker will also expose you deals where there is no commission paid by the lender.

The future is important both for your circumstances and how the product will be affected by changes in the interest rate. Are there collars at either the lower or upper end? How will affordability change if there is a significant shift in interest rate? What steps can you take to help ensure both capital and interest is being paid off effectively when the market shifts. These questions and more can be answered by your broker.

So when looking for the best mortgage deals out there do your homework. Compare mortgages using online mortgage comparison sites and get the feel of what is currently available. Then find an independent mortgage broker and work with them to search the whole market, using your homework to help make the decision that little bit easier. You are not doing their job you are arming yourself with valuable information.

Best Mortgage Deals - Online or With a Mortgage Broker?

If you find that you are walking around in circles trying to determine what the best mortgage deals out there are then you will want to read this article. Choosing the right mortgage that meets your immediate and long term needs is a difficult task. At the end of this article you will be armed with the right information to ultimately help choose the right product for your circumstances.

Take a look on the Internet and you can find hundreds of mortgage comparison sites. This is a good starting point as they provide a feel of the current deals available and in many cases have links to pages discussing the different mortgage types, benefits and drawbacks. However a given mortgage comparison site will only show mortgages associated with the lenders they are affiliated with, so keep looking.

Not all the best mortgages deals are openly advertised and you may have to go to each lender and look at their products, deals and terms of those deals. As with any deal always check the fees, tie in period, redemption fees etc. Also check to see if there is a deadline when the product will be withdrawn. The key is to become familiar with the standard products and have a basic understanding of their benefits and potential pitfalls.

The next step is to find an independent mortgage broker who will work with you to look at your circumstances, future circumstances determining affordability. The broker will look at the whole market and draw up a shortlist of potential candidate mortgages. A good independent mortgage broker will also expose you deals where there is no commission paid by the lender.

The future is important both for your circumstances and how the product will be affected by changes in the interest rate. Are there collars at either the lower or upper end? How will affordability change if there is a significant shift in interest rate? What steps can you take to help ensure both capital and interest is being paid off effectively when the market shifts. These questions and more can be answered by your broker.

So when looking for the best mortgage deals out there do your homework. Compare mortgages using online mortgage comparison sites and get the feel of what is currently available. Then find an independent mortgage broker and work with them to search the whole market, using your homework to help make the decision that little bit easier. You are not doing their job you are arming yourself with valuable information.

Mortgage Services and Mortgage Brokers

Whether you are acquiring your first property or adding to an extensive portfolio it is always advisable to speak to a professional mortgage service company to help choose the best mortgage for your situation.

A wide range of mortgages are available for a large number of financial situations, and what was right for you the last time round may not be the best option for your new purchase. Fluctuations in the market, mortgage trends and financial stability of your current situation all play a part in deciding the best mortgage for you, and you need a professional mortgage services company to give you the best and most up to date information available.

Otherwise known as mortgage brokers, these professionals have access to a range of mortgages based on deposit, term, financial situation, and any offers the mortgage company may be offering that would not be available to you as an individual. A broker may have an agreement with one or more mortgage companies giving them a better rate than you may find elsewhere.

There are various types of mortgage broker available to you, often at no charge. A broker who can offer free mortgage and financial advice by charging their fee to the company you decide to go with, however each broker is different and you will need to check their terms and conditions before committing to your mortgage. Tied mortgage services are companies who's advice is limited to the products of a single company. Banks and building societies are an example of a tied mortgage broker. Multi-tied mortgage services are companies who are tied to a small number of mortgage companies. Many estate agents operate a multi-tied system. Whole of market, or independent mortgage brokers are those who are not tied to any specific mortgage company, and can offer you the full range of products available. It is advisable for all mortgage applicants to visit an independent mortgage broker before committing to a new mortgage to ensure you are getting the best deal available at the time.

Your mortgage services provider should explain and advise you throughout the process, and every step should be confirmed in writing. They will keep you informed of progress throughout the process from start to finish, and offer to review your financial situation as regularly as you wish. If you are looking to expand your portfolio of properties it may be worth speaking to your mortgage services company about your long term plans and goals, to help them find the best mortgage solution for you. Running a number of properties for rent is very different to purchasing your own home, and different mortgages are available.

Your mortgage broker will be able to guide you every step of the way from initial enquiry to completion. Their services should cover every aspect of your mortgage application and any queries you may have regarding the application. It is a lengthy and at times complicated process, so be sure to listen to your mortgage broker and respond quickly to their requests to make sure you get settled into your new home as quickly as possible, and with the least hassle.

Philip Loughran writes on a number of subjects from travel to law, automotive to education. For mortgage services Southampton and mortgage broker Southampton he recommends Choice Financial Solutions.

Mortgage Services and Mortgage Brokers

Whether you are acquiring your first property or adding to an extensive portfolio it is always advisable to speak to a professional mortgage service company to help choose the best mortgage for your situation.

A wide range of mortgages are available for a large number of financial situations, and what was right for you the last time round may not be the best option for your new purchase. Fluctuations in the market, mortgage trends and financial stability of your current situation all play a part in deciding the best mortgage for you, and you need a professional mortgage services company to give you the best and most up to date information available.

Otherwise known as mortgage brokers, these professionals have access to a range of mortgages based on deposit, term, financial situation, and any offers the mortgage company may be offering that would not be available to you as an individual. A broker may have an agreement with one or more mortgage companies giving them a better rate than you may find elsewhere.

There are various types of mortgage broker available to you, often at no charge. A broker who can offer free mortgage and financial advice by charging their fee to the company you decide to go with, however each broker is different and you will need to check their terms and conditions before committing to your mortgage. Tied mortgage services are companies who's advice is limited to the products of a single company. Banks and building societies are an example of a tied mortgage broker. Multi-tied mortgage services are companies who are tied to a small number of mortgage companies. Many estate agents operate a multi-tied system. Whole of market, or independent mortgage brokers are those who are not tied to any specific mortgage company, and can offer you the full range of products available. It is advisable for all mortgage applicants to visit an independent mortgage broker before committing to a new mortgage to ensure you are getting the best deal available at the time.

Your mortgage services provider should explain and advise you throughout the process, and every step should be confirmed in writing. They will keep you informed of progress throughout the process from start to finish, and offer to review your financial situation as regularly as you wish. If you are looking to expand your portfolio of properties it may be worth speaking to your mortgage services company about your long term plans and goals, to help them find the best mortgage solution for you. Running a number of properties for rent is very different to purchasing your own home, and different mortgages are available.

Your mortgage broker will be able to guide you every step of the way from initial enquiry to completion. Their services should cover every aspect of your mortgage application and any queries you may have regarding the application. It is a lengthy and at times complicated process, so be sure to listen to your mortgage broker and respond quickly to their requests to make sure you get settled into your new home as quickly as possible, and with the least hassle.

Philip Loughran writes on a number of subjects from travel to law, automotive to education. For mortgage services Southampton and mortgage broker Southampton he recommends Choice Financial Solutions.