There are many reasons it can take a long time to get a mortgage - starting with a decision in principle from a mortgage lender.
Mainly, there is paperwork to be provided and scrutinised, there are identity checks to be made and there are solicitors to engage, all of which goes towards the lender deciding on the level of risk the applicant represents.
I’m probably one of the most impatient people there is, and if you’re anything like me you find it frustrating to be delayed by other people’s processes and inadequacies when you can see a quicker cleverer way to move forward.
Unfortunately, you can't get a mortgage on 'prime delivery'...
BUT even being ‘one of those’ people, it still frustrates me when people think that getting a mortgage is like ordering something online and having it arrive the next day.
Borrowing hundreds of thousands of pounds on a mortgage needs careful thought and consideration on your part, and that of the mortgage lender, and so it shouldn’t be rushed into, ever.
Okay, some people have more experience with managing their money than others and don’t need so long to make a decision, some people are less risk-averse than others, but if it takes you longer to reach a decision which you’re comfortable with who does it really affect other than you? You’re the one who needs to be confident about your decisions before you get a mortgage at the end of the day.
It doesn’t matter what other people do, this is about you and taking your time in this instance is perfectly okay!
If you want another phone call, teams meeting or zoom that’s fine with me. If you have more questions, or questions you want to go over again, that’s fine too. I’d rather we spent longer at the front end making sure you’re confident with the mortgage process instead of saying to me two months’ down the line that you just went with the flow and didn’t really understand what you were signing…
After all, if I’m not charging* you for every minute we spend talking about how to get a mortgage or protection, why should you rush?
It’s a common misconception that it’s my job to recommend you take a particular mortgage rate or deal. But how do I know what’s going to happen tomorrow let along what happens in 2,3 or 5 yrs time? Mortgage advisers don’t have the keys to a secret vault of information. And for that matter, there is no ‘prime membership’ you can pay more for to make sure your mortgage gets approved quicker! Charging for mortgage broker advice is a broker’s personal decision and has no influence on the lender’s final decision…
In fact, my role is to provide information, discuss the pros and cons of the options and then let YOU make the final decision on the right mortgage for you, based on those facts.
So, for a no nonsense approach to mortgage and protection advice, with no fees*, give me a call and get started.
*Whilst I do not charge my clients for mortgage advice or administration during the process, I do receive the same commission that all brokers receive from the selected mortgage lender.
