My 2c on what one should be able to expect from a mortgage broker

English: mortgages Green Bay, WI
English: mortgages Green Bay, WI (Photo credit: Wikipedia)

From a pet carer colleague:

A mortgage broker needs to be able to:

  1. know what they’re doing
  2. explain to clients in jargon-free language what, how, when and who they need to pay
  3. get things done efficiently with a system so that important tasks such as sending off home-loan grant applications or having clients get documents certified are done on time
  4. communicate with client & other people involved with building process & not get shitty

My colleague further commented:

……would have been a whole lot less stressful if had a mortgage broker that did above. Hubby and I never argue, but we have been bickering lately because of the confusion of being in the dark.

Would have thought it would have been pretty straight forward to make up a template for client checklist or similar. We are still confused about aspects of the process to allow us to check we have money to cover mortgage payments while still renting etc

 

clients need plain english explanations eg mortgage lender’s insurance – how much, when, who does it get paid to and how? From what we gather, bank is going to just extract it from our account, but not 100% sure. Amount of deposit – who, how much, when? We paid some to land developer, some to builder. No-one asked for the rest (which has now been paid to solicitor – but not 100% sure if this is where it goes). Mortgage repayments – the gobblygoob from bank with their figure make no sense with their numbers here there and everywhere. We just want to know what our weekly payments will be at each stage of process.

Yes this is a bit off topic however I didn’t want this GEM to go to waste.  It is amazing what you can learn from social media 🙂
Through my colleague’s comments on her Facebook profile… hopefully this post will be of benefit to every mortgage broker.

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