Mortgage Broker Leeds

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Mortgage Broker Leeds: Why Choose a Broker?

What is the role of a Mortgage Broker?

Customers want to have the choice and access to the best mortgage deal, but this can be difficult to find. Mortgage Brokers are independent, unbiased and unrestricted, so they have the ability to find the best Mortgage Deal available for any given customer’s circumstances, from any bank and building society in the UK.

There are so many lenders, so we ensure that the customer is getting the best interest rate, the best service, the best lender, and that they are fully informed of everything that’s available to them.

What is the difference between going to a Mortgage Broker and your local high street bank?

When you go to a bank, you’re very limited in terms of options available. If you just go to one bank, you’ve just got one series of products to pick from. They might not be suited to your needs, but they are all the bank has to offer.

If you go to a Mortgage Broker, you’ve got a selection of mortgage deals from every lender, which ensures that you’re getting the best deal. There’s a lot of comparison sites out there that will also look for the best deal, but the software doesn’t have the capacity to know your circumstances. It doesn’t know the specialist things about your job, your age, your income etc.

A broker, on the other hand, is a middleman with the knowledge that you have provided them about your circumstances, which can give you confidence that they’re going to get you the best deal in the quickest time possible.

What services does a Mortgage Broker offer? 

For a First Time Buyer, buying a new home can be a little bit daunting for them. They don’t know the processes involved, whether that be the conveyancer, the solicitor, the survey, they have not been through the process before. A Mortgage Broker informs them of how easy the process should be and educates them throughout the whole application.

A Home Mover is quite different, a Mortgage Broker will need to satisfy their property sale price and give them confidence that their equity will work moving forward and the affordability of the next mortgage, while finding a solution for their sale. Finding it all using the same solicitor for the purchase as well can be extremely pressured and stressed. 

Brokers are really good at easing the stress and the burden of tying the whole process together. We understand the purchase process and help with the conveyancer and inform the customer of the time scales etc.

A Broker should really get involved with the solicitors and the estate agent. A good estate agent would really go into the details of how quickly they are progressing. Our job is to give estate agents assurity that the customer can proceed as quickly as possible.

What is an Agreement in Principle? 

The Agreement in Principle is very important, however, there is a bit of a myth that if you get an Agreement in Principle, your mortgage will be approved, which is not necessarily the case.

The Agreement in Principle is judged on the customer’s credit score and earnings, as well as affordability. Often estate agents will not take your offer seriously unless you have an Agreement in Principle, so it’s an important thing to obtain very early in the process.

It’s worrying that people can get them online, because it doesn’t give people the chance to properly go into monthly payments, the terms, the type of deal, and all the aspects of the advice that goes into getting the right mortgage in the right deal for the right property. 

Can you help with Mortgage Protection Policies, Remortgaging and Buy to Let?

The protection element is very important and it’s not sufficient to present life insurance, critical illness and income protection to a customer and expect them to choose the right cover. Those products are so complex and  it’s important to understand whether you will need them, how much they are going to cost, and what exactly is covered.

It will probably require another full appointment to go through the protection options properly and in full. The customers out there who run through it as quickly as possible, are at risk of not being covered adequately. Always make sure that you speak to an expert who thoroughly understands each type of policy available, the complexities of and what is covered, because it does vary from provider to provider.

Every time you remortgage, every time you have a life change or a changing house or changing circumstances with your job, always have a review of your insurance policies.

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When should I see a Mortgage Broker?

It’s important to approach a Mortgage Broker as early in the process as possible because you want to know your affordability before you fall in love with a home. You want to know how everything works and if anything might affect you getting a mortgage.

A calculation done at home or using a mortgage calculator is a start, but won’t show the intricacies of equity, how much deposit you’re going to need to put down. Most people won’t understand about Loan to Value rates, which is the amount you borrow vs. how much deposit or equity you have. 

It’s very important that we speak to customers early so that they understand the deals, the monthly payments and how to be as prepared as possible.

Why is Leeds a popular location to buy property? 

Leeds is a fantastic place to sightsee, to shop and they’ve invested quite a lot in the Trinity Centre. Really we’ve got a wide range of property types and areas for buyers and investors. From high end options in really beautiful locations, to a lot of student areas for investment. There’s a lot of good homes and good places to live around Leeds. 

One Mortgages was created in 2016 and we’ve gone from strength to strength since then. We’ve just moved into a brand new office in the middle of Leeds, and we are really keen to grow and help as many people as we can.

How has it been throughout the pandemic for One Mortgages?

It transformed the advisors, some people were travelling over half an hour to get to the office and it just really transformed the working landscape. The technology of being able to speak to people on Microsoft Teams or just jump on a call or a video call at the drop of a hat has really transformed the business.

Now, we’ve all got flexible working patterns. It has instilled trust in everybody that the work is still getting done, customers are still being seen, so if they’re happy working from home, it’s great that they have that option. 

I think it is important to have that office on the high street, where people can call in if they want to. It’s a service industry, so if people want to come in and feel the experience of sitting down and seeing someone, they also have that option.

How can One Mortgages help?

We want to look after a customer for the lifetime, whether that’s buying your first home, then getting a family home and moving on or investing in property as well. So as brokers, we want to retain that relationship with our clients throughout the journey.

If you take a fixed deal over a period of time, such as two or five years, please visit us before the time expires on your current deal to prevent you from switching onto a higher variable rate on your mortgage. We’re in a decade of really low interest rates, but interest rates do go up. 

Give us a call or contact us at One MP or you can just pop by to see us in Leeds and we will happily review your circumstances and offer a full review at that time.

Is the initial consultation free?

It doesn’t cost anything for an initial consultation. We do charge a fee further down the line and we’re proud of it, because it’s important to understand what you get for that. It’s important for customers to see value in your services and our customers are happy to pay a fee because they know what they’re getting for that.

Navigate to the contact page on the One Mortgages website to book an initial consultation.


Why One Mortgages, Protection and Estates?

Call us now on 0113 208 3308

to find out more or arrange a consultation.

Based in Leeds, One Mortgages & Protection Limited offers impartial and unbiased advice to customers UK wide, no customer is too far away to help.