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Mortgage Brokers/Advisors

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  • Mortgage Brokers/Advisors

    Hi,

    I just have a couple of questions hopefully someone can help me with:

    When applying for a full mortgage, does it speed up the process if it is applied for by an independent mortgage advisor who is a member of a 'mortgage club' rather than just your average person applying?

    Also, does anyone have an idea of how long Accord mortgages take for a decision after a full mortgage application has been made and fee's paid?

    Thanks for any input

  • #2
    Re: Mortgage Brokers/Advisors

    It can be quicker to use a broker as they will oversee the whole mortgage offer process and basically they will receive payment when the mortgage completes so it is in their interest to actually get it done quicker.

    As for Accord, it depends what their turnaround times are and how quickly you satisfy their criteria. The usual turnaround is 72 hours for paperwork being submitted to them. For the majority of lenders you would be looking at approx 2 weeks to produce an offer (as long as you are able to supply all supporting documents in the required timescale and also the valuation is able to be done fairly quickly).
    Anthony
    Compare the Mortgage Market
    http://www.comparethemortgagemarket.com

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    • #3
      Re: Mortgage Brokers/Advisors

      adding to the above, whilst it doesn't always speed up the process, you will certainly get a better service than going direct and will also open up access to lenders and products that you wouldnt always have direct with the lenders.

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