With the increasing amount of price comparison sites that have popped up over the past few years, many people seem to be making the mistake of using a price comparison site instead of a mortgage broker.
Price comparison sites are often promoted very well so it is no surprise that many people use them, but there are certainly flaws in this way of finding a mortgage that may lead to you not actually getting the best mortgage for you.
In this blog post, we’ve pulled together some of the reasons that you should be using an experienced mortgage broker over a price comparison website.
Mortgage brokers are often experienced in their field and have most likely learned more about finding people the best mortgage than you’d be able to learn yourself, no matter how deep you research.
Even if the mortgage application process seems simple to you, you can be sure that a mortgage broker will be able to have a valuable input. Additionally, mortgage brokers can provide advice that is personalised to each case, taking into consideration your personal circumstances, meaning you can get all of the information and advice you need to find the best mortgage for you.
In comparison, price comparison sites don’t provide this information, simply offering advice that is applicable to as many people as possible.
The information that price comparison websites offer is mostly based on price, and any other factors that may affect the mortgage that you could choose (of which there are many), are simply ignored.
As well as finding borrowers the best deals, mortgage brokers also work to find exclusive mortgage deals from providers. These offers aren’t available on price comparison websites and may turn out to be the best mortgage that you could get so if didn’t use a mortgage broker then you may miss out on these.
A mortgage broker has a duty of care for all those that they are providing advice to. Although a mortgage broker will always strive to give you the best advice, you have the insurance of knowing that if they don’t provide advice that you think is adequate, you can complain and may even be compensated.
However, if you were to find a mortgage through a price comparison site and choose it by yourself, later on if turns out to be unaffordable then you won’t have that extra layer of protection.
Here at Search Mortgage Solutions, we have a whole team of professional and experienced mortgage brokers who can help you find the best mortgage for you. If you are looking for a mortgage broker in Birmingham then look no further than us! If you would like some more information about our services, feel free to contact us and we’ll be happy to help.