You found a better deal online….
You didn’t…
I’ve said it…
You…
Did…
Not…
Do you know why?
Even the deal which we find you probably isn’t going to be there this time next week, and to get documents together ready for an application will take at least a week even for the most organised.
Now… to be clear….
There are instances, mainly when you are an existing customer of our where you could walk in, have an appointment and that very same day we could secure a rate for you that is available that very same day… this happens on a daily basis…
But…
For the majority of people, these decisions can take time…
And…
For the record…
As a whole of market independent mortgage adviser we will be offering you the best rate and product available for you at the time…
There may be a better rate with HSBC,
Or even Halifax… or “bank of Baz” if you listen to our podcasts you will get this one…
But… guess what, they wouldn’t accept your application, for a number of reasons…
That could be…
Age
Income
Affordability
Debt to income ration
Property type
Employment type
The colour of your eyes…
It all matters…
We are not in this game for fun… we are not in this game to rip you off…
Saving you money and getting you the best deal is all that matters…
At the same time, sometimes the “better” rate has a fee… some fees are as high as 3%…
Its only worth paying a fee if we tell you it’s worth it…
Trust us…
We know what we are doing..
If there was a better rate elsewhere we literally have to document, even if there was 15 better rates we have to list every single lender that had a better rate and explain why…
Sometimes though…
Especially now…
It’s not about the rate its about you budget.
We work with you on that…
Really digging deep into your expenditure and finding out what’s realistic and affordable
We then collect the necessary documents…
You know why?
Because we can’t submit it and secure that rate without them…
We wont cut corners
We wont bend the rules…
Its in your best interest to get the documents back to us as soon as you can…
So…
Next time you are at a bus stop and there’s a pretty advert there offering a 4.99% interest rate…
Remember these 3 things.
- It takes 48 hours to get that advert approved and that’s why we never advertise rates…
- Unless that advert was printed today and you jump on the bus straight to that particular bank, get a same day appointment and take with you your bank statements, payslips, p60 and passport its unlikely the bank can guarantee that rate wont have changed.
- We couldn’t offer you a worse rate than you could get if we tried… the industry s highly regulated, absolutely insanely document heavy and ad far as an audit trail goes these records have to be kept for 50+ years in some instances.
Now you know….
Please just trust your broker…
Know that rates change daily…
It’s a sad, horrific depressing time for us at the moment, we do not like giving bad news…
But please…
Don’t waste time looking online… Or shopping about…
If needed book 2 or 3 different appointments the same day with a different mortgage adviser…
9/10 we will tell you the same thing…
We are not magic… we are just very qualified, expereined and talented…
We are proper boring though….
Mortgages… interest rates… fixed, tracker….
Please…
Zzzzzzzzzzzzzz.
So lets agree…
Stop thinking you have a better deal…
The reality is, when you realise that the deal you saw, that grabbed your attention doesn’t exist or doesn’t fit your circumstances the deal we offered you is most likely…
Gone..
Changed…
Increased…
We do not Bull*hit you….
We manage your expectations and when you speak to us…
this part…
this little rant.. is sadly part of our process…
we hope its not like this forever…
we hope we get some stability…
we hope…
Most of all…
we really really REALLY really hope…
you trust us… and you touch the process.
We are all in this together… we have mortgages too…
Paddy
Patrick James Solutions
Mortgage Adviser