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When to decide on a particular broker
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Let_Us_See wrote: »But for the majority of people seeking advice that is the conundrum! Unless a personal referral, how can you ensure the broker "knows what they are doing" until its too late?
Brokers are qualified, regulated, and carry professional indemnity insurance.
If they make a mistake you have some come back.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Look for a broker that has some experience dealing with situations like yours.
Although two brokers may be qualified and regulated one may have far more experience with your type of case. This is important if it 'hits the fan'.
If you are a self employed applicant for example, make sure your broker deals with the self employed regularly.
If they seem unsure, they are unsure. Ask them, how often do you deal with 'self employed' cases.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Brokers are qualified, regulated, and carry professional indemnity insurance.
If they make a mistake you have some come back.
also, even the least experienced broker knows far more than the borrower.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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