Do I have to use your broker?

Whatever agent you’re buying through, or viewing potential properties through, there’s a significant chance that you’ll be offered an introduction to their mortgage broker. 

Let me dispel some myths about that mortgage service.

“You have to talk to our broker before you can view any properties”

FALSE. They cannot insist you talk to their broker before viewing a property. They can suggest it. They can recommend it. They cannot insist.

It’s worth knowing how much you could potentially borrow, based on your income/outgoings, and how many monthly repayments would be before you fall in love with a home that’s outside of your affordability. If your financial position isn’t straightforward (and let’s be honest, whose is?!), it’s worth having that conversion before you start viewing. 

“We won’t put your offer forward unless you use our mortgage broker”

FALSE. Legally, an agent has to put every offer forward so this really is nonsense. They can’t even insist you talk to their broker before the offer is put forward. 

It can be beneficial for an agent to be assured you have the finances in place to support your offer as they’ll be able to pass that assurance onto the owner when they put your offer forward. That assurance can come from your own lender or broker, or through a quick and no obligation conversation with their broker.

“Your offer won’t be as good as the other ones as they’re using our broker”

FALSE. They cannot say that person is a better buyer for using their broker. 

It’s worth remembering that although a sale needs a seller and a buyer, the agent does act on behalf of the seller. Having that quick affordability chat with their broker will enable the agent to confirm that you’re in a proceedable position with your finance. 

“You have to use our broker if you’re buying through us”

FALSE. They cannot insist you use that service. It cannot be a condition of agreeing on a sale that you have to use their broker.

So, what are the benefits to you of talking to our independent mortgage brokers?

At the initial stages of househunting, it’s usually about the affordability mentioned above. To do that, it would be a quick chat with Mark or Aaron over the phone at your convenience rather than a 2-hour appointment at your bank during their opening hours. Once you’ve found your dream home and need to sort your mortgage, it’s the time to go mortgage hunting for the best deal for you. Our brokers are independent, also called ‘whole of market’ which means they can hunt down the very latest mortgage deals from the whole mortgage market, plus look at any exclusive ‘broker only’ deals which aren’t available to you directly from the lenders. Due to the volume of mortgages they place, they’re also familiar with which lenders might best handle any personal circumstances that don’t fit the ‘standard’ lending criteria. 

Want to know how much you can borrow or ready to sort your mortgage, click here.

Note: Your home may be repossessed if you do not keep up repayments on your mortgage.