Mortgage Broker Watford

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Mortgage Broker Watford: Why Choose A Broker?

What is the role of a mortgage broker?

Mortgage Brokers help people to find the most suitable mortgage they can. Your own high street bank might be your first point of call when you choose to apply for a mortgage, however, one bank will never offer a mortgage product from another bank.

Mortgage Brokers are able to look at the major lenders as well as some of the smaller lenders on the mortgage market and try and objectively find the most suitable deal for you.

Most brokers offer free mortgage advice, as  lenders compensate them directly, so you won’t usually pay a fee. Whereas you can be sure Mortgage Brokers have your best interest at heart with their mortgage advice, banks will only offer you the products that they have available, whether they suit your needs or not.

What services does a mortgage broker offer?

Advice is possibly the main service offered by a Mortgage Adviser. Working with mortgages and Mortgage Lenders every day means their knowledge around products will be greater than the general public’s.

They also help you consider the flexibility available with modern mortgages and help people to ensure that the product that they currently have suits the life stage that they are at and benefits them financially.

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Whether you’re buying your first home, expanding your portfolio or looking for insurance to protect your loved ones, our friendly service and expert know-how can help ensure you get the most suitable solutions for you.

At what stage in the process should I see a mortgage broker?

The best time is before you even start to look at properties, because they can help you to establish exactly how much you can afford, before you fall in love with a property that you are unable to make an offer on, as it’s too expensive.

Different lenders also have different criteria, which means that until you’ve looked at all the options available to you, you can’t be entirely sure what the maximum you could borrow will be and at what rate.

You’ll also need to consider whether your employment type and sources of income will affect the application process in any way, before you begin the application. This way you can be better prepared and prevent failed applications with lenders that don’t suit your needs. A Mortgage Broker can ensure you are making the right choices to be able to buy the sort of home that you want.

It’s perfectly possible that one lender will offer you a significantly higher mortgage than another, based on their individual criteria and how closely you meet it. Again, a Mortgage Broker would know which lenders can offer you more straightaway.

Why is Watford a popular location to buy property?

Watford has great transport links into London, which is quite important for many people. Since the pandemic began, lots of people who work in London have been looking to relocate outside of the city, but close enough to commute.

There are also lots of nice smaller towns around, such as Richmond, Croxley, Chipperfield, Kingslake. All of them also have good access to the M25.

Property prices around the area are still quite high compared to areas further outside of London, but people value the location. Warner Brothers studio is based on the outskirts of Watford, which provides a lot of jobs and Harry Potter world, and there are a range of other local attractions there as well.

When was First Thought Financial founded and how long have you been in your role with the company?

First Thought Financial was founded about three or four years ago now. All of the current staff also worked in financial services prior to that and decided to set up by ourselves. We have got good relationships with some of the local estate agents and we’re currently expanding, bringing in new advisers.

We currently have eighteen staff, and this is already much larger than it was eight months ago, so we expect to have even more advisers in the next six months, at which point, I will personally take on a management role, rather than being an adviser.

I do still enjoy dealing directly with clients, however, so I hope to continue some of this, from my role overseeing the whole operation.

Get in touch with First Thought Financial for mortgage advice

At First Thought Financial, we don’t charge you any fees for the advice, so it’s always worth getting in touch for an initial consultation. Even if you decide to go ahead with a mortgage through us, we process the mortgage application for free as well and are there to keep you informed and answer your questions along the way.

We can also sometimes get preferential rates with some of the lenders, which means you could get an exclusive product that you might not get going directly to the bank.

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If you are looking for a mortgage or life insurance or wealth advice call us today on 01923 606808 or complete our short enquiry form here.

We’ll be pleased to help you.