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  • Writer's pictureJonathan Norcutt

How a Mortgage Broker Can Help You: Residential Mortgage Services You Need To Know

12th December 2023

(information contained within was correct at the time of publication but is subject to change)

Speaking to a mortgage broker to gain mortgage advise about residential mortgage services available

If you’re hoping to get up on the property ladder, or perhaps you’re moving home, or just generally curious, you may be wondering what residential mortgage services are available from a mortgage broker. There are multiple different ways a mortgage advisor can help you if you’re interested in receiving a mortgage. 

With Norcutt Mortgages, for example, we help a range of people in different situations through our residential mortgage services. Whether someone may require mortgage advice for first-time buyers or help with remortgaging, it will likely be a mortgage broker to be the one to help. 

In this article, we’ll be explaining the most common services available, helping you to get closer to getting a mortgage that works for you. 

Mortgage Help For First-Time Buyers 

For many, buying a first home is the biggest financial commitment they will ever make. This makes getting it right so vital. With a mortgage broker leading the way for you, buying a first home becomes less overwhelming. 

We have a full first-time buyer mortgage checklist on our website which is a great place to start in your first home-buying process. 

A mortgage advisor is essential for first-home buyers. People in this position could turn to friends and family who have their own mortgages for advice, but this may not be the best decision as your needs and situations are likely different to those of your peers. Having a reliable mortgage broker by your side is extremely valuable as they are familiar with the key factors that come with getting a mortgage. 

Such factors include:

  • Their understanding of different mortgage types and terms 

  • How the mortgage application works and how to get approved 

  • The mistakes first-home buyers must avoid 

  • How to end up with a favourable deal 

  • The knowhow to maintain and manage a mortgage 

If you’re getting started on your journey of buying your first home, having a mortgage advisor that you can turn to is an incredible asset. Think of this mortgage broker service as a helping hand that can lead you to your perfect mortgage solution based on your individual circumstances. 

Remortgage Assistance

Remortgaging is when you switch from your current mortgage deal to another. Despite sounding fairly straightforward, deciding to remortgage is a decision that is not to be taken lightly. Just as remortgaging could be the ideal solution to your particular situation, it can also be a mistake. 

How can a mortgage broker help with a remortgage? When you decide to remortgage, you want to find a better deal, which often means finding the best mortgage rate or a mortgage structure that suits your unique needs. With constant attention to the mortgage market and access to multiple different mortgage options and lenders, a mortgage advisor will be able to scour the market for you to find you the best deal. 

However, before any of the above takes place, a mortgage advisor will first be able to tell you if this is the right decision for you. As we mentioned earlier, remortgaging isn’t always the right path to take – it all depends on your own circumstances and goals. 

Allowing a mortgage advisor to manage your remortgage means, if possible, you get exactly what you want out of this finance option. After all, there are multiple reasons why someone may want to remortgage, such as:

  • Remortgaging to buy another property 

  • Remortgaging to pay for home improvements 

  • Remortgaging for a better interest rate

  • Remortgaging to consolidate debt

Home Mover Mortgage Service

For those moving house, you may need a home mover mortgage and therefore require the advice and guidance of a mortgage broker. A home mover mortgage is the procedure of acquiring a new mortgage when moving house. In doing so, you end up with a mortgage that is more suited to your new home. 

Moving house can be as equally exciting as it can be stressful. When moving from one house to another, your mortgage is something you must consider. You may not have to change your mortgage at all to move home, but the option to do so is there. 

A mortgage advisor will offer you the tools and knowledge to navigate this area of your move. What home movers must remember is that simply already having a mortgage does not guarantee you will receive another, nor will it mean your current mortgage is portable.

An honest and intelligent mortgage broker, like Norcutt Mortgages, will be able to help home movers during this whole process. Your chosen mortgage broker knows the market inside and out, allowing them to find you the mortgage that fits your new home and situation perfectly. By utilising this service of a mortgage advisor, you will save a considerable amount of time and money – both of which are very important when moving house. 

Mortgage Advice for Capital Raising 

Raising capital against a property can be used to raise funds for a wide range of reasons. This process typically involves remortgaging, and so it’s best navigated with a mortgage broker by your side. 

As opposed to remortgaging to land a better mortgage deal, capital raising uses a remortgage as a way of releasing a lump sum of cash from a property. This is made possible by increasing the borrowing on a current mortgage. 

There are plenty of different reasons people go to mortgage brokers for assistance with a capital raising mortgage. For example:

  • Raise funds to invest in another property 

  • To aid in securing funds for home improvements 

  • To help a family member get on the property ladder

  • Fund a new purchase, such as a new car or special event 

  • To consolidate debt 

A mortgage advisor will initially be able to assist you by highlighting what can and can’t be achieved by raising capital, and also if this is the best decision for you. Going forward, a broker can help manage your capital raising mortgage. 

Final Thoughts on Why You Should Use the Services of a Mortgage Broker

Local mortgage advice from Norfolk mortgage advisor about mortgages services.

In this article, we have explored the different services a mortgage broker may provide and the different mortgage help they can offer. Norcutt Mortgages offers all of the above to our pool of customers. If you need mortgage advice for first-time buyers, help with remortgaging, or just general mortgage assistance, don’t delay in finding a great broker for yourself. 

As well as being able to help guide you through your mortgage journey, a good mortgage broker can achieve so much for their clients on top of this. 

The benefits of going through a mortgage advisor for your first/next mortgage include: 

  • Money saved – Instead of offering general mortgage help that can be accessed online, your advisor will get to know you, your finances, circumstances and goals to find you the best deal possible.

  • Tailored expert advice – Your mortgage advisor will be someone on your side that you can depend upon during this potentially stressful and confusing experience. A certified broker has a duty of care and the credentials needed to offer expert advice tailored to you.  

  • Unique access – Going through this process alone is not only daunting but difficult. Taking it upon yourself to research the market will only get you so far. Whereas, in some cases, a mortgage broker has the connections and networks to grant you access to more products. Sometimes these products won’t be available online or on the high street. Please note that in some cases, lenders will offer direct deals that aren’t available to brokers and not all high street lenders deal with brokers.

  • Help with paperwork and the application process – Your mortgage broker can help you with the paperwork that comes with a mortgage. They’ll advise you on exactly what you need at every stage of the process. Plus, the application process becomes smooth and hassle-free with your broker at the helm. 

In conclusion, we hope this article has been beneficial to you and has assisted you with your mortgage planning. If you’re ready to take the first step and kickstart your journey to getting a mortgage, do so with a reliable, honest and expert mortgage advisor by your side. Speak to our team today.

Think carefully before securing other debts against your home. Consolidating debt may reduce your outgoings now, but you may end up paying more overall. Your home may be repossessed if you do not keep up repayments on your mortgage.

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