At this time one can find a number of different types of a mortgage broker. The services which are provided by them are not always being same.
So in this article, I am trying to clarify the difference between them which will help you in finding the best mortgage deal for your property. You can get the services of best mortgage agent if required.
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The law changes make mortgages into three main categories. So you need to be clear that form which category you need to go for the best deal.
The first service on which you will find the most limited type of broker is known as Tied services. If you will go for such type of services, you may find a very less number of mortgage brokers in it. The brokers who offer such types of services can only advise you on some specific mortgage. A bank or a building society is an example of it.
If such type of brokers advice you best mortgage they have it means there is another better option is available which is not recommended by these service provider because such type of deals is not coming under his belt.
So if their company is not getting any benefit why he will share that thing with you. In this case, you need to search for an alternative.
The second category which is provided by these brokers is known as Multi-Tied. Such types of service providers provide you wider services in respect to the first one but still, there is a limited range of mortgage companies are offering such types of services.
Many real estate agents work as multi-tied and offer deals from a panel of lenders from which they have agreed to deal.