Property News · November 24, 2014

Is it better to take out a mortgage via a broker, or go it alone?


Already 60% of mortgages are brokered and thanks to new home loan rules that number is sure to growGone are the days when if you wanted a financial product as daunting – and expensive – as a mortgage you would pop into your local bank branch for a cosy chat with the manager.As recently as 2012, most mortgages were taken out directly from a bank or building society. Yet fast forward a couple of years and a combination of fewer bank and building society branches, a growing loss of faith in many banks’ ability to give sound advice and, more recently, more complex rules around taking out a mortgage, mean just over 60% home loans are now taken out through a broker. Some industry experts are predicting this will be the preferred route for as many as three-quarters of borrowers in the next five years. Continue reading…

Source : theguardian.com
Read more…Is it better to take out a mortgage via a broker, or go it alone?

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