Buying a home is a dream that most of us have. When one is in the process of becoming a homeowner, it could take a while for the dream to come true. The mortgage broker north York are one of your allies that will help you to get the key to your house. However, the relationship between you and your broker is not limited to just getting the keys to the house, there is a lot more to it. Depending upon the mortgage that you are opting for you might need a couple of renewals over the life of your mortgage. Hence, you will have to reconnect with your mortgage broker who will help you to get the best interest rates available at that time and also see where the mortgage will fall in your overall financial picture.
When you opt for a good mortgage broker, they will want to have you as their client for as long as your mortgage lasts. They will make the effort to reach out to you often and check how the mortgage payments are coming along. Some of the mortgage brokers also have a newsletter of some sort which has tips for the homeowner. Here is how you can make the most of your relationship with your mortgage broker.
Honesty is the best policy
When you are getting a mortgage, there is absolutely no point in lying about your occupation, income and debt as it will all eventually come out. If you haven’t shared all of the facts, then your broke won’t be able to place your application with the best lender. If you lie about the details on the mortgage application, then it is considered as committing a fraud. Even after you have received your mortgage, not lying holds here too as it could have an impact on your future mortgages. The broker works for you and is paid by the lenders to deal with the situation that you present to them and not the situation which works the best for them.
No matter how much time might pass by, don’t alienate your broker. The broker may reach out to you often, but in case they don’t, you should initiate contact with them. You could drop them a quick email to say hello or ask simple questions. When you are in touch with the broker and it is time to discuss renewal, you won’t be just another person to them.
If you have been happy with your mortgage broker, then you should refer them to your friends and family. A large part of the broker’s business is dependent upon the referrals, which usually come from the clients who they’ve worked with previously. If you know someone who is looking for a mortgage and is unfamiliar with the role of a mortgage broker, then you should offer them to help them get in touch with your broker. It is a win-win situation for everyone.