Being a first time buyer in London the process of buying a home, you will have no need to go to an Estate Agency Advisor. The Agent themselves may put forward the words implying that you will lose the property if you go with someone else but that isn’t the case. Estate Agents earn commission from when additional services are utilised by customers.
What they will not tell you is that there are several other ways you can arrange a mortgage without using the Estate Agent and in this article, we’ll help you decide who to use for your mortgage and how to make sure you are receiving the full value for your money.
Options are available online such as price comparison websites to let people know of available rates. Though it’s important to keep in mind that you will need advice at some point during the process because buying a house is a very big deal and it’s important that you get it right.
The option of arranging a mortgage with your bank is also an option. Many people do this but it is less common nowadays. The trust that people hold towards banks is less frequent than what it used to be.
Some homebuyers can be reluctant if they have to hand over their financial details to an Estate Agent and become dubious that the vendor may find out they are in a strong financial position and end up paying more than they should for the property.
Some Estate Agents might imply that their vendor would prefer you to go along and arrange a mortgage in-house. Although this won’t be entirely true, the vendor simply cares about the individual being in a financial position to proceed.
Make sure to see a Mortgage Broker in London which isn’t connected to the Estate Agent and ask for an Agreement In Principle. From this, you will then be able to provide this document to the Estate Agent to prove that you are in a ‘proceedable’ position. You will also be asked to evidence your deposit and ID.
A reliable Mortgage Broker in London will offer to guide you through the full process of buying a home to make sure that you are provided with transparent, open and honest Mortgage Advice in London. Be sure to take up the advantage of a free mortgage consultation and find a Mortgage Advisor in London you like and trust.