What Does A Mortgage Broker Do?
- Access to competitive rates
- Specialist Mortgage Advice
- Relationships with a variety of lenders
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What Does A Mortgage Broker Do?
Kelly Nicholson and Lauren Tebb introduce the company and talk us through the services offered by a mortgage broker.
What does a mortgage broker do?
A mortgage broker assesses the market, your circumstances, and your short-term and long-term goals to find the right mortgage for you.
We can help anyone looking for mortgage advice whether you’re remortgaging, if you are a First Time Buyer or you’re an investment landlord. It’s a mortgage broker’s job to find the most suitable deal for you in your circumstances.
What’s the difference then between going to a mortgage broker versus your local high street lender?
The biggest difference really is that we have access to the whole of the market. Your local high street bank can only offer you their own deals and rates.
We can assess rates and deals from many different lenders, which means that you’re getting the most suitable deal for you, in real time – we can access the best rates as they become available.
Also, as brokers we are regulated and allowed to advise, while high street banks are not regulated to give advice. They’re too big and the advice can’t be monitored so if you need advice on a situation they’re not able to give that to you.
A broker can really get to know you and your circumstances and advise the most appropriate thing for you in the short-term and long-term.
What services does a mortgage broker offer?
At L&K we work with you from start to finish. Our advice starts before you’ve even found a property, all the way through until you’ve got the keys in your hand and everything’s completed. We can get you an Agreement in Principle, we can talk you through mortgage figures and different interest rates.
We liaise with estate agents, solicitors, accountants, whoever needs to be involved in the process, whether you’re buying or remortgaging. The idea is that we make things go as smoothly as possible and take away the stress on your behalf, to make it as easy as it can be.
Can you advise on mortgage protection as well?
Yes, that’s a key part of it for us. We can look at any type of protection you need. We make sure that if something happens you’re going to be protected – from life insurance to buildings and contents insurance, critical illness cover… we review all of this as as part of the package.
When should I see a mortgage broker?
As soon as possible – when you make the decision to look for a property. That’s when I would say give your broker a call. We can look at the affordability for you at that point to give you an idea of appropriate property prices.
We can also get an Agreement in Principle done as early as possible. Then, if something comes up that perhaps you weren’t aware of that could be a stumbling block, we have time to rectify that.
Once you’ve got the Agreement in Principle certificate, you can go and make an offer on a property as soon as one you want to buy comes up.
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When was L&K Financial founded and how long have you been in the industry?
We used to work together six or seven years ago now. We’re not going to give our ages away, but we’ve been in the industry a little while!
We decided to create L&K at the beginning of this year, in January 2023. We decided that there’s never going to be a right time and we wanted to build something that worked for us and for our clients in the way we wanted.
We both have a similar outlook on how we look after our clients and what works best for customer outcomes, so we’ve put those ideas together to make something great.
It’s still fairly new to us as L&K Financial but industry-wise we’ve both done this for a number of years now. We’re now using our knowledge and our contacts to make something really special.
Does it cost for an initial consultation with you?
No, the initial consultation is absolutely free. We’re happy to have a conversation with you, explain the processes to you and even get you an Agreement in Principle – and none of that is going to cost you anything.
So make that call and don’t feel daunted by it. The advice you’re going to get upfront is going to be invaluable to you through the process.
What else do you want us to know about L&K Financial?
We really value building long-term relationships. A big difference between a broker and a high street lender is that we’re not just going to sit down with you to help you buy your first house or re-mortgage and then never talk to you again.
We will be in contact again when your mortgage deal ends, ready to help you find a new product or support you on your next house buying journey. We really do get to know you and your family and aim to make it a long-term relationship. That’s something we pride ourselves on – we have customers that come back time and time again, because that long-term relationship just works.
We might meet some clients that are First Time Buyers and it’s great to help them get their first home, then a few years later they are looking to buy their next property – maybe their family has grown and they’re looking for somewhere bigger and it is great to be a part of the whole journey. Or they could be coming to us to build a rental portfolio – they’re often nervous with the purchase of their first Buy to Let, but by their third or fourth Buy to Let they’re saying this is the best thing they’ve done.
It is really rewarding to be a part of people’s journeys. It’s definitely one of the best parts of the job.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up with your mortgage repayments.
You may have to pay an early repayment charge to your existing lender if you remortgage.
The Financial Conduct Authority does not regulate most Buy to Let Mortgages.