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In theory 99% is computerated but in practice a good broker will earn their money by knowing which bits of lender's criteria can be bent a bit, by talking to underwriters, by working proactively and by generally being wise and experienced.
A bit like every other service job.
Hefty-
This. The underwriter had a few problems with our case so our broker arranged a conference call between the three of us. He dealt with things quite impressively.
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In theory 99% is computerated but in practice a good broker will earn their money by knowing which bits of lender's criteria can be bent a bit, by talking to underwriters, by working proactively and by generally being wise and experienced.
Only if the case demands it. If you have regular finances it will probably not, and the broker simply acts as the pre-sales and sales department of the provider as MMR pretty much requires them to do.
As before: in some cases a super-specialist fee charging pro broker will be helpful! For the rest of us they will not be worth the top-up fee because they are simply not providing any additional value beyond administerial.
Before MMR the internet nearly killed 'em off.
A bit like every other service job.
Huh. Yeah. Of course, and some services are charged at different rates than others because they are more valuable. Basic mortgage origination is pretty darn cheap once you have the hardware and the marketing end sorted out :)
Stonehedge
Howard
It's possible if you have complicated finances but if you are fairly normal there's not a whole lot to go wrong. A computer deals with 99pc of it anyway :)