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Mortgage Lenders based in Newcastle 

 October 1, 2020

By  Michael

I covered in my article about what a mortgage broker does how one of the main benefits of using an advisor is the time saving that can be made. However if you feel you would rather do the research yourself this article will help you find mortgage lenders in Newcastle. 

Most of the major banks are within 1000m of the Newcastle Monument Metro Station. Our map below shows walking routes to the South, East and North of the Monument Station. 

It is worth noting that a lot of the major high street banks in Newcastle are actually situated around the Haymarket Metro station which is also close to the Newcastle University and Northumbria University Campuses. 

Popular Banks and Mortgage Lenders

Newcastle Building Society

New Bridge St W, Newcastle Upon Tyne, NE1 8AL

Map of Halifax in Newcastle Upon Tyne

Halifax

Unit 1, Metro Station, Newcastle upon Tyne NE1 7PF

Map of Barclays Newcastle

Barclays

49-51 Northumberland St, Newcastle upon Tyne NE1 7AF

Although most of these branches are high street banks and you are free to visit without an appointment it is unlikely you will be able to speak directly to an adviser. 

Most of the branches have counter staff or a welcome desk who will be able to make an appointment for you but it would be best to telephone ahead to arrange an appointment to speak to the in branch adviser. 

Benefits of visiting the branches 

Pros

  • Dealing with the in branch adviser may cut out a layer of communication in the chain that exists when using an independent broker
  • The bank may have an exclusive deal which is not available via the intermediary market. 
  • Banks own advisers generally do not charge a mortgage advice fee although this may be included within other fees 

Cons

  • Walking bank to bank around the centre of Newcastle can be tiring and time consuming.
  • By going direct to the Bank you could pay more than using a broker who may have an exclusive offer via their network with the same bank. 
  • The adviser in your chosen bank in unlikely aware of better suited solutions on offer from other competitor banks

ConClusion

As a broker it is hard to remain unbiased and recommend you visit the banks in Newcastle directly, however it may give you added confirmation of the value your broker is adding to the process if you have the time to visit one or two banks. 


Yet in taking the time to visit the banks yourself you would be nullifying one of the main benefits which is the time saving that can be made by using an independent mortgage broker. 


In my opinion the biggest drawback to using an adviser directly linked to the bank occurs when your case is not completely straightforward. You could spend hours with the adviser who needs to complete a full fact find as part of the mortgage process and submit many documents to them and the underwriter to be told that the bank are unable to lend. 


In this situation you will need to start from scratch with another bank who will also have to complete there own fact find and have original copies of your documents. 


By using an independent mortgage adviser clients who have slightly quirky or complex cases can save themselves time and a huge headache. As part of the process an independent adviser would ring each of the likely banks business development managers first to discuss the case prior to any application. 


They will only submit the case with a bank that is likely to approve your case however this cant always be guaranteed. In the event the case is not approved at least you are not inconvenienced as your broker will simply apply to another lender using the same fact find and documents.  

Michael


Hi I'm Michael a CeMAP qualified mortgage broker and property investor. Have a question I have not answered in this blog..then please get in touch

Michael Donnelly

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