Why use a broker?
Some lenders do not operate on the high street and don't even advertise to the public, and consequently have lower costs. This in turn means they can offer better rates, but they only deal with brokers. Such lenders do not add onto the product the cost of giving advice or the liability of that advice, the office space, and marketing costs, as they simply wait for brokers to deliver business to them. All of these factor in to provide lower rates via brokers than the high street. Equally there are high street lenders who recognize that applications from brokers incur them less of the costs mentioned above, which enable them to adopt differential (and cheaper) pricing via brokers. All the better for you.
You've seen the best buys table in a paper, so you just want to go for the cheapest. What about their service and speed of delivery? If you're buying you've probably seen 20 properties and finally you've found the ONE YOU WANT, so naturally you want to close the deal quickly. Another hurdle for you is getting your mortgage offer quickly - too good a rate means too many applications and then the lender's application processing department can deteriorate and then cause you unwanted delays and unnecessary stress. How can you know the lender you choose will deliver on time? At Kingsway we monitor daily the efficiency of lenders' service levels and are aware of who is delivering on time.
Getting you what you want
Perhaps you've recently set up your business, or have limited accounts available? Or are looking for a large loan in comparison to your current basic salary but expect salary progression or bonus payments? Then we can assess quickly whose most likely to offer you the amount you need. We know how to match specific lenders with your particular needs, and what are the strengths or weaknesses of your application in comparison to their "box" of criteria. We know when we can push them on income multiples where it makes sense and there's a business case.
Perhaps you've had a lender agree the amount you want, so you're happy to leave it at that and not look around further. Is it the most appropriate for you though? How do you know there isn't another lender who will lend you that much and at a better rate? Without you knocking on a lot of lenders doors and then having to go through all their procedures, before finding out they will only lend you £10,000 less than the minimum you really do need.
Talk to a broker and take the hassle out of shopping around and being asked all those same questions again and again. Did you know 55-60% of the mortgage market per year is introduced via brokers?