Why is it a good idea to use a broker for your remortgage?



It is time to remortgage your home; should you use a broker or should you go it by yourself? Most people will tell you that using a mortgage broker is a waste of money that you can use for something else. But the truth is that when it comes to remortgaging to save money, you are always much better off using a broker than trying to do it yourself. Here is why:

•    You are protected. Most people don’t know this but a mortgage broker has an obligation to make sure that you get the best mortgage rates. If they give you a wrong deal then you can complain and get a refund. If you go straight to a lender without taking advice and you get a poor deal, you have no recourse.

•    Mortgage brokers are trained to give mortgage advice. Getting a remortgage is more than just finding the lowest interest rates. There is much more that goes into it and a mortgage broker knows all the details.

•    The broker is on your side unlike the lender who would like to make money off you. This is another thing that many people don’t know – the broker is never on the lender’s side at all. It is in their best interest to get you the best deal available.

•    They know what is happening in the industry at any one time. We may think that we know what is happening in the housing market because we read papers and watch the news but that isn't always the case. There is a wealth of information that a broker knows that could lead you to a better remortgage. They could, for instance, know what the rates are going to look like one month from now and how it will affect your deal.

•    Mortgage brokers often give more than just mortgage advice. They will look at your life insurance and other insurance that you have and tell you how it will affect your mortgage.

•    You should not worry so much about a mortgage broker’s fee. You pay them once and they can save you from losing a lot of money in the future or making bad decisions.

One of the best mortgage brokers in the UK is Mortgage Advice Services. They have the best advisors to help you remortgage to save money. They will get you the deal that you are looking for because they are familiar with so many lenders. You can find out more by calling them on 01332 257 087 or visiting their website, http://www.mortgageadviceservices.co.uk/remortgage.htm.

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