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Sales Tactics of Estate Agents & Builders in Liverpool

Mortgage Advice in Liverpool

You don’t need to go with an estate agents Mortgage Advisor when you are buying a home. The agent may try and intimidate you with claims you may lose the property if you go elsewhere, but that’s simply not true. The estate agents earn extra commission from you when you use their additional services, so that’s often their primary focus.

People don’t like being “sold” to so here are some of the tactics to look out for:

  • Financial incentives for buyers, as a ‘reward’ for using their in-house mortgage advisors and conveyancing services.
  • Any estate agent that says they are not putting your offer forward unless you’ve spoken to their in-house mortgage advisor. This is against the law.
  • Quoting overpriced and ‘extortionate’ solicitors fees.

There are plenty of other ways you can arrange a mortgage without using the estate agent. In this article we’ll cover the ways in which you can do so, helping you decide on who to use for your mortgage and getting the most out of your money.

Do it yourself online

Some people have more confidence in using price comparison websites to better understand the available rates. It’s important to take advice at some point in the process, as buying a house is a big deal and it’s important to ensure it goes smoothly.

Here are some things to look out for if you want to have a go at applying online:

  • The rates advertised are ‘Best Buy’ rates – you might not qualify for this rate. Also, you might not meet that Lender’s specific lending criteria.
  • Some websites only display deals where they have a commercial arrangement with those lenders. Deals from other lenders not visible may be more suitable for you.
  • It can be expensive if you get this wrong. Check what fees are payable and when. If your application is declined can you get your money back? Sometimes deals at the top of the list come with massive set up fees.
  • You will solely be responsible for progressing your application. If you apply without taking the advice you will not benefit from any consumer protection such as FOS.

Go to your own bank

You could go directly to your bank for a mortgage. This was more common in the past, as nowadays the banks can have a reputation for not being as trustworthy.

Look out for:

  • The bank can only offer their own products. There may be the perfect deal somewhere out there for you, but you won’t find out as the bank don’t need to tell you.
  • Different banks have different credit scoring systems. If you fail a credit score too many times, it can harm your home buying chances. The chances of finding out why you failed is also pretty slim.
  • Appointments in and out of hours can be difficult to arrange.

Find your own Mortgage Broker in Liverpool

In some cases, homebuyers are reluctant to hand over their financial information to an estate agent. They’re worried that the vendor might find out they’re financially well off, thus putting up prices for the property.

Estate agents have been known to intimidate the customer into the thinking the mortgage should be arranged in-house, with the estate agent. This is not true at all; a seller only cares about whether or not you can afford to go forward.

Whether you are a First Time Buyer, Moving Home or looking to Remortgage in Liverpool, you will find our Mortgage Advice service extremely beneficial. As a trusted Mortgage Broker in Liverpool, we will guide you through the home buying process, giving good, honest, unbiased Mortgage Advice. Get in touch for a free mortgage consultation and we’ll see how we’re able to help you.

Self Employed Mortgage Advice in Liverpool

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UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
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Liverpoolmoneyman, Rodney Chambers, 40 Rodney Street, Liverpool, L1 9AA.

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