The Benefits of Using a Broker to find lending solutions

The Benefits of Using a Broker to find lending solutions

The Lending Channel
Date Published:11/09/2023

Owning a property in today's high-priced market is a challenging feat. The price surge in the property market has become inexplicably high, and buyers are competing for the limited number of affordable properties available.   

Another thing one needs to consider is the number of necessary requirements and necessary paperwork. It can be overwhelming, especially if it is your first time, and even if it's not, you would still have to go through the process.   

If you are one of the aspiring homeowners or want to engage in the buy-to-let business, the best way to avoid these hassles is to get a broker to give you the best option and advice. The Lending Channel is one of these brokers offering plenty of lending solutions to borrowers, but our expertise in handling complex cases sets us apart.   

This blog will tackle the benefits of using a broker and how they can help you stay at ease in buying a property.    

The Benefits of Using a Broker to Find Lending Solutions  

Before delving into the benefits, we must understand what brokers are and what they do.   

Brokers are intermediaries between borrowers and lenders. They work with borrowers to understand and discuss their financial needs and goals, then shop around to find the best lending solution from various lenders. Brokers are responsible for the following:  

  • Comparing rates and terms from multiple lenders: Lower interest rates and terms can save you considerable money, as they can be sure they are getting the best possible deal.  

  • Helping borrowers qualify for loans: Brokers deeply understand the lending process and can help borrowers put together the most substantial possible application.  

  • Managing the loan process: Once a loan is approved, brokers can help borrowers through the closing process and ensure everything goes smoothly. 

When looking for a broker, you must consider their variety of experience and expertise. They should know the lending process and understand the available loan options. They should also be able to communicate effectively with borrowers and answer their questions concisely.  

Brokers can be an asset to borrowers looking for a lending solution. They can save borrowers time and money and help them get the best possible deal.  

Below are the benefits of using a broker to find Lending solutions:  

Saving Time and Money  

Getting the best deals in acquiring your first property can be hard alone. Many mortgage lenders offer a broad range of options and low-interest rates, and picking the one you think is the best can be tempting.   

However, it can lead you to a trap and require you to pay more than expected. A seasoned broker like The Lending Channel can help save you time and money by assessing your financial status and getting you the best mortgage interest rates.  

Over the years, The Lending Channel have built relationships with mortgage lenders that allow us to negotiate the best deals for you. We will save you some time in going through the research process as you already have a broker as your support.  

Access to a Wide Range of Lending Products  

Some Lending products are not advertised openly by Lenders, so access to this information is by having a broker. A broker's negotiating experience can give you an advantage as they know the competitive rates, lending options and products you can choose from.   

This access means you'll have better options, including the ones you are unaware of. The Lending Channel connection to these mortgage lenders helps our clients explore more options that fit their budget.  

Expert Advice and Personalized Service  

A piece of expert advice is a breeze when buying a property. It keeps you away from terrible financial decisions. At The Lending Channel, our financial experts will guide you through every step, from the requirements needed to completing the process and calculating the down payment to your monthly payments.   

A mortgage calculator on our website is available if you want a rough idea of the maximum loan, you can borrow and the mortgage payments you are likely to pay. 

We are experts at finding the best deals according to your finances. We also take on complex mortgages, discuss them thoroughly, and lay out the best lending solutions for those in this situation. 

Simplifying the Process  

Getting a property is a long winding road which involves much paperwork and complicated steps. If you are a first-time buyer, you may need more than just researching online to acquire a property, which can cost you time and money.  

With a knowledgeable mortgage broker, you can easily navigate the property market as they will guide you on which step to take first. The Lending Channel can help you save time by helping you through the right action you need to take. We will guide you with the requirements, negotiate the price and help you prepare financially. 

Helping Those with Complex Requirements  

Buying a property is a complex process, even more so if you have complex mortgage requirements. At The Lending Channel, we understand that borrowers have their own needs and preferences, and we have a team of knowledgeable mortgage advisers who can help you tackle complex requirements.  

Here are some of the complex mortgage requirements that we can help you with include:  

  • Borrowers with short credit histories: brief credit histories might affect the success of your application. Financial institutions need a long credit history to assess how you manage your finances. You may need help getting a mortgage if you have a short credit history. We can help you build your credit history and find a lender to consider your application.  

  • Borrowers with debt-to-income ratios that are too high: The Lenders also consider the risk involve in lending you the money, and they will check your ability to pay. You may need help getting a mortgage if your debt-to-income ratio is too high. We can help you reduce your debt and find a willing lender to work with you.  

  • Self-employed borrowers: If self-employed, you may have difficulty getting a mortgage because lenders have less information about your income. We can help you document your income and show lenders that you are a reliable borrower.  

  • Borrowers with low credit scores: Low credit history  is the same as having a short history, as the lenders need to assess how you managed your credit and your financial habits. You may need help getting a mortgage if your credit score is low. We are here to help improve your credit score and find a willing financial institution to work with you.  

We understand that complex mortgage requirements can be daunting, but we are here to help. We have the experience and expertise to help you get the mortgage you need, even if you have complex requirements.  

Contact us now and make your dream come true 

Having a seasoned broker on your side can help you make an excellent financial decision by guiding you through the process, saving you time and money, having expert advice available and helping you with complex requirements.   

If you are one of the people interested in owning a property but need a knowledgeable broker to keep you from making financial mistakes, please feel free to contact us at The Lending Channel. We are here to guide you with the best lending solutions that we offer.  

Category Tags Mortgage Guides
We are a credit broker, not a lender and are paid a commission by our lenders, full details of this along with our fees will be detailed in the Terms of Business we issue to you.

The Lending Channel ltd is a member of the National Association of Commercial Finance Brokers (NACFB).

2/1 King James VI Business Centre, Friarton Road, Perth, PH2 8DY
Tel: 01738 583008 | Fax: 01738 500402

The Lending Channel ltd are authorised and regulated by the Financial Conduct Authority.
FCA number 626787
Company number SC334818
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