Mortgage Help – Are You Getting The Kind of Mortgage Help You Want?
Let’s say you need a
mortgage as a buyer or perhaps you need to re-mortgage your existing residence
or maybe you are in the market for a buy to let mortgage. Where do you start
the process and how do you obtain the best options to complete the process
without wasting hours of your valuable time.
If you live in the UK
you have 3 options. – the internet – your existing lender and an independent
mortgage adviser. Although the internet can be useful it will not take you long
to realize that very little meaningful information can be obtained from comparison
sites. It is a start – but lots of ads, false claims and half truths will
inevitably end in more confusion.
Your existing bank of
course will try to sell you what they think is their best product regardless of
whether it may be appropriate for you or not. After all that is all they have
to sell and they will never tell you if a more suitable product is available
from another lender.
Last but not least you
have the independent mortgage adviser option. Although brokers have been
criticized over the years – good brokers are currently filling a critical need
in the market place. A good broker can cut through the marketplace confusion by
identifying the best way forward and then dealing with the many lender criteria
issues as they occur.
Completing the mortgage
process is not as straightforward as it was a few years ago. This is due to
constantly changing mortgage regulations – which is restricting the ability of
many credit worthy consumers to qualify for mortgages. Lenders frequently
adjust their criteria rules in response to ever changing regulations causing an
increasing number of applications to be aborted or declined during the
underwriting process. With the normal time constraints involved in completing a
property purchase many people have resorted to multiple mortgage applications
to speed up the process in the event that one is declined.
Unfortunately the
mortgage process is fast becoming a patchwork of stop gap measures and often
rigidly enforced by lenders underwriters. The flexibility to use a common sense
approach to deal with criteria issues does not exist and therefore good
risk-free applications are often turned down by one lender – only to be
accepted by another a few days later. No common sense and you should be looking
for mortgage help.
We at Midwest Mortgage Capital
understand that it is more important than ever for people to seek
independent mortgage advice. A qualified and experienced loan officer can find you
the best option and save you the frustration and hassle of dealing with lenders
criteria issues.
If you need assistance, do not hesitate on giving me a call or any member of the team at 314-744-7806. Check us out on the website by clicking on the link below:
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