The process of obtaining a new mortgage can at times be a stressful and disconcerting time for even the most experienced consumer, and depending on an individual’s personal circumstance a mortgage arrangement can range from the most straightforward of transactions to the incredibly complex of scenarios.
What is crucial though, is for the broker and their team to have a firm understanding of all components of the case. This is especially paramount when carrying out the relevant research and making subsequent recommendations.
Typically the first encounter when dealing with a mortgage intermediary, such as ourselves, will be an initial chat to discuss the individuals situation and objectives. This provisional interaction is the cornerstone of getting familiar with the case, and will allow the broker to start piecing together the elements of the case.
From this point a diligent mortgage broker and their support staff will begin to build the file and start to carry out detailed research, looking at key areas such as lending criteria and overall affordability. At the same time, a broker should start to build a dossier detailing the case facts, which can significantly help when presenting a case rationale to a lender, especially on complex / non-standard case scenarios.
Now if the above has been conducted to responsible standards, and the recommendations have been accepted by the client, then the next step which is submitting the mortgage application, should be relatively seamless, even in the quirkiest case scenarios.
An underwriter from the respective mortgage lender will be tasked to assess the application, and in majority of cases will be the individual who signs-off the application as satisfactory or not. Referring back to the above, if a broker has carried out the research in accurate fashion and where needed has pre-application authority from the lender to submit the case in question, then subject to the property valuation there is no reason the mortgage shouldn’t be offered.
Naturally all lenders will have differing assessment timescales, of which can fluctuate depending on the time of year or market climate, but with close case management and transparent expectations we find that delivering a pro-active, smooth process, can be achieved even in the most multifaceted circumstances.
All mortgage broker firms will have in some guise varying processes and standards, but from our point of view we find that by having a team working for you is absolutely essential in obtaining a successful outcome, and being done with as little stress on yourself as possible. This is why any client who works with us will have a dedicated mortgage broker who’ll work in tandem with an assistant and /or an administrator.
If you’d like to know more about our services and standards then please don’t hesitate to contact us, we’ll be more than happy to help.