Mortgage Broker Bath
At Maggs Financial Services, we help people looking for a mortgage broker in Bath most. It’s our nearest “big” city so it makes sense that most of our clients are based locally.
As we are to the East of the City, we also tend to help people looking for a mortgage broker in Chippenham, Corsham & Malmesbury. And offer a national service to help with mortgages for doctors, referred or existing clients.
If you would like to learn more about mortgage brokers. And a bit more about me. Then hopefully you will find this a good place to start.
Mortgage & Protection Adviser
Why trust Maggs Financial Services as your Bath Mortgage Broker?
“I started as a mortgage broker in Bath in 2013 with one of the largest brokers in the country. I had grown up in the South West and take great pride in helping local clients with their mortgage and protection portfolio.
“Starting my own firm has allowed me to focus a lot more time on my clients. And being able to market myself independently has allowed my personality to shine through alongside the quality of my work.
“Whether you’re buying your first home, forever home or simply need to re-mortgage; I hope you can find enough useful information within this website to allow you to make the next steps and get in touch.”
What is a mortgage broker?
A mortgage broker is responsible for helping you to arrange the loan required to help you buy or refinance your home.
They will get to know you, research the market and provide a formal recommendation for the most suitable deal available. If you’re happy, they’ll also do all the paperwork and be on hand all the way through the process until you move into the property.
The most suitable deal isn’t always going to be the cheapest. There is lots that a mortgage broker will factor in to their research before making a formal application;
And that’s just the start of it for a “straightforward” application. But if you’re self-employed, working on a fixed-term contract or need the mortgage arranged quickly there’s a lot more to think about.
Should I use a local mortgage broker in Bath?
Proving your identity.
Having a local mortgage broker can be really useful when it comes to verifying your identity. Whilst many clients will pass an electronic identity check, sometimes you will need to provide your passport and driving licence for approval by a mortgage lender. Having access to a broker on your doorstep avoids having to send your important documents away in the post.
Local Bath knowledge.
Sometimes it’s just good to have something in common with the person helping you buy or refinance your home. Whether that’s enjoying lunch from The Whole Bagel, bemoaning the Christmas Market tourists or (most importantly) understands the local housing market.
Further to this, a local broker may have also organised a mortgage for one of your colleagues, or on a similar street. And understands the problems you are likely to face from the outset.
Are all mortgage brokers in Bath the same?
Now this is where it can start to get difficult. Whilst most mortgage brokers are fairly similar in terms of how they can help, there are some big differences in the types of mortgage broker available.
A tied mortgage broker can only offer mortgages from a single mortgage lender. This is often the type of mortgage broker you would find at your local bank or building society.
Some mortgage brokers will be able to offer deals from a limited panel. You should look to clarify exactly what mortgage lenders they have access to as many of these brokers won’t have access to the likes of HSBC, TSB, West Brom, Post Office & Bank of Ireland and many more…
You would often find a mortgage broker working with a limited panel within a corporate estate agent.
Maggs Financial Services are a broker that has access to a comprehensive range of mortgages from across the market. This used to be independent or whole of market but neither of these phrases really gave a true reflection of a mortgage brokers scope.
As with the limited panel, you should still look to clarify exactly what mortgage lenders these brokers have access to. Because some brokers that fall under this category still may not have access to certain lenders. It’s also worth knowing that this doesn’t include some deals that can only be accessed by going directly to a mortgage lender yourself.
So which mortgage broker should I chose?
Ultimately, the choice is yours. If the most suitable mortgage deal for you is with Nationwide you would likely be able to access this deal in their branch with a single tie broker, or through the broker operating from a limited panel or comprehensive range.
But your mortgage broker will offer a whole lot more than just arranging the loan. And you will want to ensure you’ve got the right person by your side throughout the process.
More than just a broker.
A good mortgage broker will offer a lot more than just getting the right deal. And whilst the deal is important, it probably won’t be the deciding factor when choosing a mortgage broker in Bath.
Mortgage brokers are on hand right from the start, helping you understand how much you can borrow all the way through to viewing properties, making offers and working with solicitors. They can be a sounding board for any potential issues about surveys, what type of solicitors to use and any worries throughout the process.
You will want to ensure you get on well with your broker, and trust them to act in your best interest over the next few months to help them buy your dream home.
Would you like to...
If you are a first time buyer or moving home...
It would be great to be a part of helping you buy your new home and secure the most suitable mortgage and protection portfolio.
If you are ready to talk, please feel free to get in touch or provide your contact details below.