Published on August 23rd, 2018 | by Sunit Nandi0
5 advantages of getting a mortgage online!
A mortgage is an important long-term responsibility and so it’s always best to get the most valuable option for your needs. Many homeowners don’t actually shop around, often sticking to their bank or following their close family’s advise. Yet you needn’t even visit a branch to get the best mortgage, with a host of online options conveniently available from your mobile device. Just like in real estate, technology is changing the mortgage industry. We’ve broken down the 5 advantages of an online mortgage.
A Wealth of Options
unlike limited high street services and brick-and-mortar banks, there are many mortgage options and brokers available online at the click of a finger. you needn’t study large booklets compiled from multiple store branches at the whims of their opening hours; you can simply download, research and compare plans at your pleasure. what’s more, many online mortgage services offer easy to digest faqs, videos and fact sheets. this allows you to make better sense of the difference between adjustable rate and fixed-rate mortgages, loans, refinancing, reverse mortgages and their timeframes. the internet is full of options, with half of available mortgage lenders having turned digital
Because the internet is a more interactive, virtual experience, you can generate mock-ups and mortgage calculators detailing monthly pay plans, making sure you understand the expectations of you as a customer. These can be customised to your specific demands. Online mortgage brokers like Habito, for example, offer digital mortgage advisors as well as easy to contact human experts, giving you quick and easy 5-minute advice, as well as a host of FAQs and tools for prospective customers. What’s more, if you choose to take out a loan or mortgage, your application is often far more transparent and viewable at all times, letting you know where you are without visiting a branch or using a telephone.
Being able to browse and research mortgage plans on your own time can be a life saver, affording you flexibility. You no longer need to wait on an advisor or travel to an office to receive an answer to your problems, simply logon and stay connected. Online mortgages are far less time consuming.
Like its hassle-free benefit, you also often have 24-hour access to either digital information or human experts. Many online mortgage brokers have chat features, meaning you don’t have to organise specific meetings in an office and wait in person for the client in front of you to be finished. This evolving merger of virtual and real representatives means that you can get quick answers to simple questions and ticketed responses to more complex enquiries.
Flexibility with Finance
If you find yourself needing to change your mortgage due to shifts in your financial situation, you can often change your plan swiftly through your mobile mortgage broker. It’s far easier to chat with an expert and make a change on an online interface than it is to meet an office-bound broker. This puts the power of flexibility into the customer’s hands. Eager reporters have even called for the demise of pen and paper mortgages!