If you’re looking for a mortgage broker, how do you pick a good one?
If you take out a mortgage, you can find one directly, talk to your bank or building society or get advice from a mortgage broker. When I remortgage, I tend to use a mortgage broker because I think a good one can get you a better mortgage deal (or the right one for you) and can sometimes save you money on things like life insurance. If you’re self employed or if you’re not a good credit risk, it’s definitely worth using a mortgage broker.
How to get the mortgage you want at the best rates; tips on how to get a mortgage
Checking your credit file, getting your deposit, closing old credit card accounts will all help
The mortgage market is currently more competitive than it's been for some time, but lenders are still being choosy about who they give a mortgage to and who gets their best deals. You can’t guarantee you’ll be approved for a particular mortgage, but if you follow these tips you will certainly increase your chances of getting the mortgage you want.
Should you pay a higher arrangement fee or go for a lower fee and higher interest rate?
Mortgage arrangement fees can easily top £1,000, but in some cases it may be better to pay this than to pay a higher rate.
Would you want to pay £1,000 or more in fees just to get the mortgage you want? Probably not. But in some cases you may be better off paying a higher mortgage arrangement fee to get the most competitive mortgage rate, than to avoid the fee by paying a higher rate. It all depends on how large your mortgage is and how long the deal lasts for.