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Buying your first house is exciting—until you realize how cumbersome the mortgage pre-approval process can be. A mortgage broker can help, but ask these five questions first. 5 Questions to Ask ...
A mortgage broker can save you money on the loan itself: Brokers have access to a broader mix of loans and lenders (including some you wouldn’t have access to as an individual). So they may be ...
The nature and scope of a mortgage broker's activities vary with jurisdiction. For example, anyone offering mortgage brokerage in the United Kingdom is offering a regulated financial activity; the broker is responsible for ensuring the advice is appropriate for the borrowers' circumstances and is held financially liable if the advice is later shown to be defective.
A mortgage loan or simply mortgage (/ ˈ m ɔːr ɡ ɪ dʒ /), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.
The Certificate in Mortgage Advice and Practice (CeMAP) is a UK-specific qualification for mortgage advisers offered by The London Institute of Banking & Finance at QCF Level 3. It meets the standards required by the Financial Conduct Authority to practice as a 'licensed' adviser in the UK. As of 2020 80% of UK advisers hold this qualification. [1]
Mortgage bankers are often confused with mortgage brokers, but they’re very different. A mortgage banker is tied to one financial institution, while a mortgage broker works independently of lenders.