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    EmployingaBroker Brochure

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    Danielle Thompson
    Employing a mortgage broker provides several benefits over applying directly to banks. A broker can review offers from multiple banks, saving the borrower time and avoiding smaller loans. Brokers also secure cheaper rates due to the high volume of mortgages they facilitate. This allows borrowers to qualify for higher mortgage amounts than approaching banks individually. For example, one client could borrow €100,000 more by working with a broker compared to applying directly to banks.

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    EmployingaBroker Brochure

    Uploaded by

    Danielle Thompson
    6 views1 page
    Employing a mortgage broker provides several benefits over applying directly to banks. A broker can review offers from multiple banks, saving the borrower time and avoiding smaller loans. Brokers also secure cheaper rates due to the high volume of mortgages they facilitate. This allows borrowers to qualify for higher mortgage amounts than approaching banks individually. For example, one client could borrow €100,000 more by working with a broker compared to applying directly to banks.

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    Employing a mortgage broker provides several benefits over applying directly to banks. A broker can review offers from multiple banks, saving the borrower time and avoiding smaller loans. Brokers also secure cheaper rates due to the high volume of mortgages they facilitate. This allows borrowers to qualify for higher mortgage amounts than approaching banks individually. For example, one client could borrow €100,000 more by working with a broker compared to applying directly to banks.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    6 views1 page

    EmployingaBroker Brochure

    Uploaded by

    Danielle Thompson
    Employing a mortgage broker provides several benefits over applying directly to banks. A broker can review offers from multiple banks, saving the borrower time and avoiding smaller loans. Brokers also secure cheaper rates due to the high volume of mortgages they facilitate. This allows borrowers to qualify for higher mortgage amounts than approaching banks individually. For example, one client could borrow €100,000 more by working with a broker compared to applying directly to banks.

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    © All Rights Reserved
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    Employing a Broker

    Unique point of contact reviewing all


    offers vs applying yourself to various
    banks, losing time and money

    Cheaper rates due to the volume of

    Why? business vs accepting the rate the


    local bank offers

    Higher mortgage amount not


    approaching the wrong bank to get a
    smaller sum

    For which benefits?


    Income Financial committments Debt to Income (DTI)

    Mrs. €3,000 Mortgage €900


    1.250 / 6.000
    Mr. €3,000 Car €300
    ~ 20%
    Total €6,000 Total €1,250

    Bank A: uses 30% DTI Bank B: uses 35% DTI Bank C: uses 40% DTI

    €6,000 x 30%=€1,800 €6,000 x 35%=€2,100 €6,000 x 40%=€2,400


    - €1,250 fin.comm.=€500 - €1,250 fin.comm.=€ 850 - €1,250 fin.comm.=€1,150

    Max mortgage (20years): Max mortgage (20years): Max mortgage (20years):


    €90,000 €140,000 €190,000

    By employing a professional, the client could borrow €100.000 more!

    Mortgages taken out in currencies other than the currency in which you earn are considered Foreign Currency Mortgages. Changes in the exchange rate may therefore increase the
    equivalent of your debt. Under the Mortgage Law 5/2019 banks in Spain have introduced mechanisms to protect consumers from exchange-rate risk. For more information, please
    speak to your broker. Mortgage Direct, S.L. is a company registered in the Registro de Intermediarios de Crédito Inmobiliario del BdE with the no D108.

    (+34) 963 156 011 info@mortgagedirectsl.com www.mortgagedirectsl.com

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