Mortgage Broker vs doing it yourself.

We’re all about making things clear and easy to understand. Here we identify five key benefits for choosing a mortgage broker rather than doing the work yourself.

Impartial
Mortgage brokers are worth their weight in gold when it comes to finding the right mortgage deal for your new purchase, investment, renewal or change in circumstance.
They are specialists in providing mortgage finance and protection solutions to future proof your family, finance, and lifestyle.
Brokers give impartial advice and are not tied to any bank, building society, or lending institution, allowing them to work exclusively on your behalf and in your best interest.

Whole of Market
Our team of brokers at Less Stress Mortgages are Directly Authorised, meaning they will be able to access every available mortgage on the market to find the most suitable mortgage for your situation, potentially saving you quite a lot of money. Some brokers work from a select (small) panel of lenders drastically limiting options they can recommend from, so it is always best to check.

Flexible
At Less Stress, we understand the fast pace of modern life can be stressful, leaving little time to sort, arrange and apply for mortgages and protection. This is why all of our brokers work flexible hours to suit busy lives, offering remote appointments over the phone and via zoom, removing the need for time consuming meetings in person. Our flexible approach allows us to help clients regardless of location as this is no longer an obstacle with modern technology and remote working.

Knowledgeable
We are experts in the mortgage and protection world and skilled in criteria, limitations, and niche offerings of each lender. Our team of Less Stress Mortgage Guru’s have a wealth of knowledge built from years of experience in the industry, so you can relax whilst we make sure you get the best solution to suit your needs.
Whether you need a specialist mortgage lender for impaired credit, a unique situation, unusual income or even non-standard construction types, our team can access a vast range of lenders to find the most suitable lender and rate for your personal circumstances.

Regulation
The mortgage industry has gone through numerous legislation changes, which has essentially made it harder for some people to get a mortgage. Lending criteria has been tightened, with stricter requirements and analysis of income, outstanding debts, and other factors. Now more than ever, by working with our team at Less Stress to source, secure and complete your new mortgage deal, you really can save time, money (grey hairs) and increase your chances of securing the most competitive deal on the market.

All our brokers in the Less Stress Team are experienced, qualified, and regulated by the Financial Conduct Authority, meaning mortgage advice from brokers has never been safer.
Our flexible working hours, wealth of knowledge, prioritising your best interests and access to the whole mortgage market means speaking to our team of specialists will be the best decision you make.

Choosing to go it alone

You may still decide to go it alone. If so, here are a couple of benefits and few other things to think about.

Transparency
By submitting your own mortgage, you will have full control and visibility throughout your mortgage application as you will be responsible for answering enquiries and providing outstanding documents and justifications yourself. However, when using Less Stress mortgages, in addition to having your own dedicated Mortgage Broker (unlike many brokers) you also have access to our Less Stress Support Team. They work for you, behind the scenes to ensure you receive a streamlined, well informed experience, pushing through each mortgage and protection product to completion while providing personalised updates every step of the way.

Familiarity
If you like familiarity, applying for a mortgage yourself, through your own bank may feel like the right choice and having the comfort of all your accounts with the same financial institution may provide some peace of mind. However, a major drawback of only speaking to your bank about mortgages, is that they will only tell you about their own ates and products, which accounts for only a fraction of the available mortgage market This restricts your options and ties you to the lenders rates and lending criteria.

The drawbacks of going it alone

If you’re still convinced about doing your own mortgage, you might want to consider other drawbacks which could cost you in more ways than money.

Missed deals
Trying to find a mortgage product yourself, could result in the perfect lender for you being overlooked. Brokers have access to a significant number of Lending Institutions that extend well beyond the High Street and as such not being on most people’s radar.
Each of these lenders offer multiple rates, terms, and mortgage variations, making thousands of mortgage options available to choose from. The Less Stress our team are skilled at narrowing down the options to each individual client, after assessing their needs, to provide the perfect mortgage choice after all lenders have been considered. As the mortgage market and interest rates change daily, we’ll be the first to tell you if a new rate has been released that you qualify for. Our Support Team will automatically secure this for you, saving you interest and ultimately money. We want the best rate for our clients, and will keep an eye on your mortgage even if it has been offered, in case a more suitable rate is released.

Time consuming
Due to the sheer number of mortgages available for comparison, trying to source the most appropriate or competitive one yourself can take an eye watering amount of time. Leaving the filtering of products to a broker will save you time through specialised software that shows the latest rates, lenders and options available to provide the best mortgage option. If you do choose to take on this task, there is a chance that you could end up missing out on your dream property or an exclusive rate that has been released.

Also, the process of applying to multiple lenders without having inside knowledge of their criteria would be lengthy without the support of an expert mortgage broker. Submitting a large number of applications may also have a detrimental effect on your credit rating. Too many credit scores from different lenders, is known to impact credit ratings at a time when you need it to be at its highest. Let us take the stress out of mortgages but doing the leg work for you.

Professional on your side
Now more than ever, our time poor society turn to Professional providers for expert services across many areas of their life. Accountants, Solicitors, Builders, Plasterers, Decorators, Beauticians, etc. all undertake jobs that many people can do themselves, but instead they choose to use a Professional as they value their experience, knowledge and expertise.

Using a professional mortgage broker to increase your chances of securing your dream home, growing your investment portfolio, or saving you money on your most expensive outgoings makes good sense.