Estate Agent Mortgage Advice in Manchester
When beginning your mortgage process, if you choose to use a large estate agent, they will encourage you to use their in-branch mortgage advisor and their recommended conveyancers. Just because they want you to use their own advisors, doesn’t mean that you have to. In fact, you can go elsewhere and still receive the same deal if you want to! Unfortunately, as a first time buyer in Manchester, it is often you who get get caught out and stay in-house.
Searching for an external mortgage advisor in Manchester could be your best option. An estate agent’s advisor will never give you a view from both sides, they just want you to stay on with them alone. If you do your research and still end up back with your in-house advisor, fair enough, however, there are loads of different places where you can obtain transparent mortgage advice in Manchester. For example, a mortgage broker in Manchester will give you more options rather than a one-point perspective.
Our view consists of both transparency and efficiency; we want to give you the best advice for your personal and financial situation but also deliver a fast yet friendly service.
Sales tactics of estate agents
If you end up choosing to use your estate agent’s in-house mortgage advisor and conveyancer, you have to think about where is the money coming from? Maybe they are charging you for their services without asking you and adding it to other fees. When you go to a mortgage broker in Manchester, you know exactly what you are paying for as your advisor will break each cost down for you. Also, anything you are unsure about, we can answer honestly and say why we have done things in certain ways.
Even though this is illegal, your estate agent may refuse to put forward your mortgage offer if you have not taken their in-house mortgage advice. For example, you could be using a broker and they may push another offer to completion over yours just because you aren’t using their services. Remember, these situations are illegal.
If estate agents are really pushing their luck, they may try and charge you with extortionate in-house conveyancing fees. Even if your purchase is straightforward, they could try and charge you with a £1,500+ fees. If this is anything that you come across during a purchase, you have all rights to ask them where they have got these prices from and for them to break down the costs for you.
Again, opting for a mortgage broker in Manchester will let you avoid all of this. In Manchester, we can assure you that we work for your best interests only.
How can I get a mortgage in Manchester?
Finding the right Mortgage Advisor in Manchester
What happens if you don’t have to choose an advisor, more so, you are appointed one that is best suited to your personal and financial situation. This is exactly what Manchestermoneyman’s services can offer; after a free mortgage consultation and 24 hours to whip up an agreement in principle, you could be linked with your perfect advisor and start the mortgage process right away.
Our Mortgage Advisors in Manchester have been helping struggling customers take that leap into the mortgage market for over 15 years now. You can find out more about our excellent mortgage advice service by taking a look at our outstanding reviews.
Getting behind the wheel to start your own mortgage journey
If you would rather take on the mortgage process by yourself, you should know that it’s perfectly okay to do so. You can do everything online if you want to, same as most things nowadays! Along with the use of price comparison websites, you may be able to find a great mortgage deal off your own bat.
The positive of doing things online is that you’ll save money on additional fees. As long as you are confident in what you are doing and know what to look for, the process could be completed very quickly.
Although, shopping around online and switching could be harder than it seems. You will need to make sure that you’ve found the right deal that corresponds to your situation before agreeing to anything. Here are some things to look out for when choosing to find a deal by yourself:
- Are you able to match the criteria for the “Best Buy” rates? Check before applying, as if you are declined, it could leave a negative impact to your credit score.
- Have you done your research properly? Many of these sites earn a commission from lenders and where there is no commercial relationship with a lender, they may just not include their mortgages in the table.
- If it goes wrong, it could be costly. Be wary of valuation and applications fees if you are not 100% certain that you have been accepted. These will be non-refundable fees.
- You will solely be responsible for progressing your application and also sorting out any problems if things go wrong further down the line.
Should I use my Bank or a Mortgage Broker in Manchester?
Using your bank’s Mortgage Advisor in Manchester
It’s easy to make an appointment with your bank’s Mortgage Advisor, however, it may not be the best option for you. If you do choose this route, here are a few things to look out for:
- They won’t shop around for the best deal; they can only offer their own deals; some of their deals may not suit you at all! They also won’t tell you about cheaper rates through other mortgage lenders.
- Computer says no! – “Sorry guys, you’ve been banking here 20 years and we still don’t know you well enough!” (this comes around way too often…).
- There is often a long waiting list for a mortgage appointment, some lenders have up to 6-month waiting lists.
- Your bank may have inexperienced advisors. If your situation is slightly unusual or you want help with the whole home-buying process, they will not provide help and support. This is why many people get declined, their bank just turns them away.
Using a Mortgage Broker in Manchester
Using a mortgage broker in Manchester that is not associated with the estate agent ensures you have someone working purely on your behalf as a first time buyer in Manchester. This also ensures there’s no risk of conflict of interest.
Everything is strictly kept between you and your designated mortgage advisor in Manchester. If you choose Manchestermoneyman, you should also know that we are not tied to any particular estate agent or conveyance, so we work solely for you!
Our mortgage broker in Manchester has your best interests at heart. Managing Director Malcolm Davidson is here to explain the advantages and disadvantages of using a mortgage broker in Manchester…
Date Last Edited: November 6, 2024
