Why You Should Use a Broker for Your Offset Mortgage Search

Won’t a middleman cost me more money?

No. Aside from being the person who could save you thousands over the whole term of your offset mortgage, much of the broker’s fees come from the lender rather than the borrower. Also, offset mortgage search is a lengthy process, so paying for a broker’s services could be saving you time, as well as money - and we all know how valuable our time is these days.

Can’t I just offset mortgage search myself?

Unfortunately, a regular borrower can only mortgage search consumer-based lenders. Turn on the TV or open the newspaper and you will be inundated by the same old lenders offering offset mortgages – but not offset mortgages specially tailored to you. Even using Internet search engines will only bring up consumer websites.

A broker’s offset mortgage search is different – it is much more comprehensive than any other medium. Using special intermediate software, brokers can extend their offset mortgage search to thousands more lenders who do not advertise in newspapers and on the TV, and who are not easily found on the Internet. Many offset lenders do not even want to go straight to the consumer - they want a broker to help their borrowers. This means a broker’s offset mortgage search is a lot more comprehensive than any you could undertake yourself.

Isn’t the Internet now the best way to search for financial products?

The Internet has done wonders for the financial services industry – it has given people knowledge, opinion and the power of information. But it cannot compensate for a broker with experience, who knows how to exactly offset mortgage search for your unique financial situation. Search ‘offset mortgage’ and you will find a host of lenders offering loans, but how do you know they are the best for you? What is their service history? Are they accountable? Can you contact them if things begin to go wrong? The only person who can answer all this through their offset mortgage search is a broker.

What about the financial search websites?

Although it is a good idea to check out some of these financial search engines for best buy tables and other general information, these websites can only point you in the right direction. It is only a broker who can offer a personal offset mortgage search - studying your situation and helping you predict what will happen in the future.

Get to grips with the offset mortgage industry before you go to your broker by all means, the more you know the better the experience will be for you – so browse the newspaper or the TV and surf the web for your own offset mortgage search. But if you want the best products, the best customer service and the continued security of a product you know will serve you for years to come then allow your broker to offset mortgage search for you. It could be the best financial decision you ever make.

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© 2007 and 2008 Offset Mortgage Centre | Terms and Conditions | Privacy Statement | We don't charge a fee for admistration of an offset mortgage. The Offset Mortgage Centre is the trading name of The Mortgage Broker Ltd, (a whole of market mortgage broker), which is an appointed representative of Home of Choice Limited, which is authorised and regulated by the Financial Services Authority | Your home may be repossessed if you do not keep up repayments on your mortgage. *Source - Mortgage Strategy April 2007: One of the first on the market was Yorkshire Bank along with Woolwich and Virgin One. **Source Barclays Bank: Calculation based on an offset tracker product; repayment mortgage of £100,000 over a 25-year term that has been offset with £20,000 savings, resulting in a reduction in mortgage term of 8 years and 8 months or a saving of £44,867 in overall interest. Calculation assumes balance remains constant throughout the life of the mortgage and that the mortgage loan and savings balance will vary. Outcomes will be either a reduction in payments or a reduction in mortgage term. No interest is paid on balances offset against the mortgage.