{"id":9436,"date":"2020-03-31T11:10:47","date_gmt":"2020-03-31T10:10:47","guid":{"rendered":"https:\/\/www.impactsf.co.uk\/?p=9436"},"modified":"2020-03-31T11:10:47","modified_gmt":"2020-03-31T10:10:47","slug":"youd-use-local-shop-supermarket-mortgage-broker","status":"publish","type":"post","link":"https:\/\/www.impactsf.co.uk\/index.php\/2020\/03\/31\/youd-use-local-shop-supermarket-mortgage-broker\/","title":{"rendered":"You’d use a local shop over a supermarket. It should be the same with your mortgage broker."},"content":{"rendered":"

Through this unprecedented time, I can\u2019t stress enough that you should be using a mortgage broker to review your requirements and help arrange your re-mortgage to cut down your costs.\u00a0 Yes, you can sometimes go direct to the lender, but is it right for you?\u00a0 Is there a better rate elsewhere?\u00a0 Have you read all the small print? How long are you tied in for?\u00a0 Fixed or Tracker rate?\u00a0 Can you apply whilst in the three-month mortgage payment holiday?\u00a0 Will the lender take my \u2018Furlough\u2019 pay as income? \u00a0And so on.<\/p>\n

\"womanAt times like these, changing your rate can be a huge decision as we all look to cut costs in order to see the next few months through.\u00a0 Without professional guidance, you might not only get the wrong deal, but you might also miss it.\u00a0 A wide number of lenders have withdrawn products recently, yet only advised us the day after the products were withdrawn.\u00a0 Some lenders, due to the volatility of the markets, have even reviewed full mortgage applications in with them, and withdrawn their initial approvals!\u00a0 Worse, some have actually withdrawn fully issued mortgage offers!<\/p>\n

This is a sign of the times and now, more than ever, you should be using your local mortgage broker.\u00a0 Just like the local shops competing against the supermarkets, everyone is struggling and that little mortgage product transfer you\u2019re doing through the smartphone app to your high street lender could be vital income to the broker who may have helped you out so many times in the past.\u00a0 Don\u2019t cut them out, let them help and advise you.\u00a0 It is unlikely to make a difference to you in terms of rate or fees, but it can make a huge difference to income being generated for the mortgage broker in these challenging and difficult times.<\/p>\n

Generally, the housing market is coming to a standstill as the Government requests everyone to stay at home.\u00a0 This means that surveyors cannot visit the property and therefore a lender cannot lend on a property it has no idea of the value on. \u00a0There are remote systems that can provide Automated Valuations (AVM), but only a few lenders will currently take these as a base to which they can lend to and the risk curve will only allow an AVM up to 85% loan to value. In the main, most lenders will only allow 75% AVMs at the moment and only on re-mortgages.\u00a0 As we all get used to working from home, this may change.<\/p>\n

Yet, through adversity, there are rays of sunshine!\u00a0 A number of lenders are looking at ways to increase volumes, reach out to help customers and keep the market going.\u00a0 Some of these will be offerings only available through the broker market channel.\u00a0 So, keep in touch, keep the relationship close and let\u2019s work together to achieve the best outcome. \u00a0We are fully functional and working from home during normal business hours.\u00a0 We continue to offer our free advice service, so speak to the team and we\u2019ll help you as best we can.\u00a0 Keep well.<\/p>\n","protected":false},"excerpt":{"rendered":"

Through this unprecedented time, I can\u2019t stress enough that you should be using a mortgage broker to review your requirements and help arrange your re-mortgage to cut down your costs.\u00a0 Yes, you can sometimes go direct to the lender, but is it right for you?\u00a0 Is there a better rate elsewhere?\u00a0 Have you read all […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"slim_seo":{"title":"You'd use a local shop over a supermarket. It should be the same with your mortgage broker. - Impact Specialist Finance","description":"Through this unprecedented time, I can\u2019t stress enough that you should be using a mortgage broker to review your requirements and help arrange your re-mortgage"},"footnotes":""},"categories":[1],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/9436"}],"collection":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=9436"}],"version-history":[{"count":0,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/9436\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=9436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=9436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=9436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}