Specialist Mortgage Broker
Here at Davidson Deem, we are specialist mortgage brokers that aim to get borrowers the mortgage they want and need. We are whole of the market mortgage brokers, therefore, we can get you in touch with a large variety of different lenders to give you as many different mortgage options as possible. We offer a fee-free service on mortgages over £100,000, meaning you pay nothing for our services. Give us a call on 01202 884 111 to speak to a specialist mortgage broker today.
What is a Mortgage Broker?
A mortgage broker is a company or person that finds mortgages for borrowers by getting in touch with lenders on their behalf. The specialist mortgage broker will work directly with you as the borrower, therefore, you won’t have to approach the lenders yourself. Whether you are a first-time buyer, you already own a property, you’re looking to remortgage your home or even to get better rates on your current mortgage, a mortgage broker can help you. They will work with you to decide what kind of mortgage you need and will find a deal that matches your criteria.
A mortgage broker will offer financial advice to you when searching for a suitable mortgage and they have a duty of care towards you as the borrower. They are obliged to find the most suitable mortgages for you and must be able to justify their recommendations to you.
Why Get a Mortgage Broker?
When you’re applying for a mortgage, it can be a very stressful time, especially with the number of lenders there are to choose from. A specialist mortgage broker can minimise this stressful process because:
- For Convenience – Whether you are working full time or not, chasing down mortgage deals can be a long, stressful process that can be tiring and take up a lot of your spare time. Having a specialist mortgage broker deal with your mortgage for you is simply a lot more convenient than doing it yourself.
- Mortgage Brokers Have Better Access – Mortgage brokers will have a lot of contacts and experience in the mortgage industry, therefore they can get in touch with many more mortgage lenders to give you a better chance of getting the deal that you want. Also, because they have worked with many lenders, they are able to ensure that the process is quicker than if you were to do it yourself because they can chase the lender up in a way that will be successful.
- Mortgage Brokers Have More Expertise – The mortgage industry can be confusing with interest rates and the way it works changing all the time and deals coming and going. A mortgage broker is an expert in the industry and can explain how everything works in a language that you can understand whilst minimising the stress that comes with it. They also know which lenders are more likely to favour your application through the experience they have.
- They Work For You – A specialist mortgage broker will work for you as the borrower and not the lender. This means that they will find a wide range of mortgage deals that will be suitable for you, not just a few deals from one lender.
- Can Save You Money – Contrary to belief, hiring a specialist mortgage broker can save you money; this is because they can find you a much cheaper deal that you may not find yourself which can save you money in the long term.
- You’re Protected – As previously mentioned, a mortgage broker works directly for you and not the lender. If you were to find a mortgage yourself without any advice and it later becomes unaffordable, then you will not have much legal recourse. Whereas, a mortgage broker will know all about your finances with what you can and can’t afford and must find a suitable, affordable mortgage deal for you. If their advice is not up to scratch, then you can complain and be awarded compensation.
Here at Davidson Deem, we do our best to help borrowers find the mortgage that they are happy with. However, we do not offer secured lending advice.
Are Mortgage Brokers Expensive?
As previously mentioned, mortgage brokers can save you more money in the long term than you’d spend up front. However, it is best to consider the costs of a mortgage broker as this will add to your upfront costs of buying a home. Prices vary from different mortgage brokers and even the way that you pay for their services:
- Some Specialist mortgage brokers will ask for a set fee from you that will cover the entire process, from start to finish no matter how many hours they put into it.
- An hourly rate is a less common option, but it can be used.
- You may not have to pay anything with some mortgage brokers as they work on a fee free basis because they earn commission from certain lenders. Here at Davidson Deem, we work on a fee free basis but only on mortgages over £100,000; any mortgages lower than £100,000 will require a fee of around £300.
- Some mortgage brokers will require a percentage of your total mortgage cost as their fee.
Here at Davidson Deem, we are not independent financial advisors and we suggest that you should take advice from a financial advisor before making any decisions involving money. We can put you in touch with an advisor if you wish.
Why Choose Davidson Deem?
Here at Davidson Deem, we pride ourselves on being able to offer a personalised service even with our fee free service. When you speak to a specialist mortgage advisor through us, you will only deal with one director of the firm through the entire process and any future dealings that you may have with us. We even have clients with us that have dealt with the same director for over 20 years. We feel that this is better as you build a relationship and a level of trust with your specialist mortgage broker.
At Davidson Deem, we specialise in providing you with professional mortgage advice that you can trust. We will ensure that you get the best possible advice that suits your individual requirements; whether it be your first mortgage, a remortgage, or even finding a better rate from your existing lender, Davidson Deem has got you covered. We aim to find the most attractive interest rates, however, peripheral terms and conditions in addition to the quality of service from the lender are also factors that we consider when finding you a mortgage.
Getting in Touch With Your Specialist Mortgage Broker
Whichever kind of mortgage you are looking for, a specialist mortgage broker can help you. To get in touch with Davidson Deem, call us on 01202 884 111 and one of your specialists will be able to help you find the perfect mortgage for you. If you ever need any help, you will always have dealings with the same mortgage broker from our team to ensure you receive a personalised service.