Using A Mortgage Broker Sedona AZ

A mortgage broker is able to utilise industry knowledge and experience to source deals that can be beneficial to an applicant. Thanks to legislation in favour of the consumer, the broker must offer advice that is appropriate to the applicant's circumstances and can be held financially liable if their information or advice is later found to be defective or misleading.

Concord Mortgage Company
(520) 203-9494
2530 W. Highway 89A
Sedona, AZ
 
Chase Bank
(928) 282-4127
1300 W Hwy 89a
Sedona, AZ
Type
Freestanding
Office Hours
Mon:9:00-5:00
Tues:9:00-5:00
Wed:9:00-5:00
Thurs:9:00-5:00
Fri:9:00-6:00
Sat:9:00-1:00
Sun:closed

National Bank Arizona
(602) 212-8861
1470 W Highway 89A
Sedona, AZ
 
Tmbg Inc
(928) 203-4373
251 Hwy 179 Ste C4
Sedona, AZ
 
U S Capital Mortgage
(928) 204-0019
1370 West Highway 89A
SEDONA, AZ
Services
Mortgage Brokers

First Magnus Financial Corp
(928) 203-9899
1225 W Highway 89A Ste 201B
Sedona, AZ
 
Wells Fargo - Sedona
(928) 282-7145
2201 W Hwy 89A
Sedona, AZ
Type
Branch
Office Hours
Mon-Fri 09:00 AM-06:00 PM
Sat 09:00 AM-04:00 PM
Sun Closed

Country Mortgage Corporation
(928) 204-1777
2155 West Highway 89A Suite 201
SEDONA, AZ
Services
Mortgage Brokers

National Bank of Arizona
(928) 204-1060
1470 West Highway 89A
SEDONA, AZ
Services
Mortgage Brokers

M And I Marshall Isley Bank
(928) 203-4484
2030 West Highway 89a
Sedona, AZ
 

Using A Mortgage Broker

A mortgage broker is a liaison who acts as a ‘middle man', sourcing mortgage loans and products on behalf of an individual or a business. In today's climate, the mortgage broker has become a popular option for many seeking mortgage deals; fierce competition between the financial institutions has meant more and more mortgage variants.

A mortgage broker is able to utilise industry knowledge and experience to source deals that can be beneficial to an applicant. Thanks to legislation in favour of the consumer, the broker must offer advice that is appropriate to the applicant's circumstances and can be held financially liable if their information or advice is later found to be defective or misleading.

Therefore a broker must assess the borrower's circumstances before making any contact with a lender; this may include a credit report supplied by one of the three credit reference agencies (Experian, Equifax and Creditcall) and verification of income to support the premise that the mortgage is affordable. The broker is also responsible for completing the lender application form, gathering all the required documents from the applicant, explaining all the legalities of the mortgage agreement and submitting all the relevant material to the lender.

There are, in essence, two types of mortgage broker: those who are ‘whole of market' brokers and those who work with a smaller, select panel of lenders. Whole of Market brokers, such as The Mortgage Broker Ltd, offer applicants the opportunity to select their mortgage product from any available UK lender they choose. This approach is ideal for those who are not confident in their working knowledge of mortgages, those who have adverse credit ratings and for those who simply do not have the time to thoroughly research the mortgage market.

Brokers who use smaller panels of lenders are more restricted in the choice of product they can offer. In turn, this can also limit their experience in certain types of mortgage, given that they may be used to dealing with a set number of lenders and their associated products. An experienced broker, however, may have the power to negotiate terms, on behalf of his or her client, that may have seemed previously unattainable. The broker may also be able to begin and finish the entire procurement process on the client's behalf.

All mortgage brokers are regulated by the Financial Services Authority, offering the consumer an added degree of protection as, should the broker's information to the lender prove to be inaccurate, they can be held responsible for any financial problems that have been incurred. They are obliged to ensure that their advice caters for the needs of the applicant, whilst taking into account the lender's criteria, ensuring that the client receives entirely impartial advice.

As well as the basic service of mortgage procurement, many mortgage brokers also offer further services and advice on other aspects of mortgaging, including re mortgages, buy to let, self certification and adverse credit mortgages. Mortgage brokers now cater for over 68 of all mortgage deals across the UK. With the often confusing jargon offered by financial institutions and the lack of explanatory literature offered by the internet, it is not hard to see why.

Steven Clarke Marketing Manager The Mortgage Broker Providing a mortgage comparison of the whole mortgage lender market to find you the best mortgage loan rates. Visit the Mortgage Broker to get a quote on the type of mortgage you want.Please visit our site http://www.themortgagebroker.org.uk/



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