There are mortgage brokers who are able to arrange low-deposit mortgages each day, and they have a great deal of knowledge in the April 2021 mortgage guarantee scheme. We would like to explain the benefits of using our mortgage advisors who specialises in arranging mortgage guarantee scheme, how we are help you, and how to find the right mortgage advisor for your needs and circumstances.
Do I need a Mortgage broker for the mortgage guarantee scheme?
Using a mortgage advisor if you’re applying for a mortgage through the 2021 guarantee scheme isn’t always necessary, but it is highly recommended. A mortgage advisor who specialises in arranging mortgage deals through the new scheme could help you to secure a low interest.
The value of a mortgage broker’s knowledge and expertise cannot be exaggerated. For most who borrower, they’re important to saving time, money and potential disappointment, and for most, they ca be the difference between success and a mortgage rejection.
How can a mortgage advisor help me?
When thinking of using the mortgage guarantee scheme, a mortgage advisor can ease the process by finding the best mortgage option. The mortgage advisor will compare all the products available through the guarantee scheme with every alternative to make sure you’re getting the right product.
A mortgage broker will search the entire market and round up all of the best low-deposit mortgages that you are best for you.
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What expertise do they have?
There are mortgage brokers who specialise in low-deposit mortgages and they have a great amount of knowledge of the new mortgage guarantee scheme.
Our mortgage broker will give you a complete idea of the entire market, so you have a better chance of securing the best interest rate.
How do they get paid?
First, when you have consultation with a mortgage broker about the guarantee scheme it will be free with no. You mortgage advisor will then explain exactly how much you’ll have to pay for their services.
On average, you can expect to pay between £400 and £900 for a mortgage broker, but remember, they can help you save a lot more by getting you a better interest rate than the one you would ever get if you were to go it alone.
Can a mortgage advisor help me if I have bad credit?
Yes our mortgage brokers can increase your chances of getting a mortgage through the mortgage guarantee scheme by matching your credit report with a lender with a low appetite for risk. This allows them to overlook the type of bad credit. The mortgage lender will look into the reason for your adverse credit.
The fact that all of the lenders offering mortgages under the guarantee scheme are high street banks, it can be more difficult to get a bad credit mortgage with them, especially one with favourable rates. Fortunately, as specialist mortgage brokers, we have access to every bad credit lender on the market, and they won’t limit their search to the guarantee scheme when searching for the best bad credit mortgage deal that you are able to qualify for.
As well as helping you find the right lender, your mortgage broker can also offer advice on optimising your credit report for a mortgage and completing your paper work correctly.
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How long will my application take?
The average mortgage application usually takes around 11 and 12 weeks to complete we usually aim to complete sooner. The mortgage guarantee scheme won’t make any difference to this because there’s no extra paperwork for you to fill out.
Using our mortgage broker can, however, increase your chances of reaching completion faster than average, since we will help with your paperwork and make sure you find the right mortgage lender.