Wholesale mortgage lending is a good way to get your home finance sorted so that you can avoid paying loan provider fees to brokers and retail agents if you go to the lending institute or company directly. Wholesale pricing for mortgages are usually given to retail lending agents and mortgage brokers who then pass it on to the borrower adding a loan providers fee on top. There are a variety of lenders and lending institutes that will have both retail and wholesale devisions or you may prefer to search out companies that specialize in wholesale mortgage lending only and enquire to apply directly to avoid these extra brokerage fees.

What will I need for a mortgage application?

Generally mortgages of all kinds will be subject to local regulations and legal requirements depending on where you live but here are some typical requirements for a standard application:

Income:

- Wage slips / pay stubs

- Proof of all income sources

- Most recent Tax return statement

Assets:

- Most recent checking account statements

- Most recent investment account statements

- Most recent retirement statements

You will also be required to provide a tax identification or social security number.

Some companies allow you to apply for a pre-approval certificate which is helpful to get the OK before you start looking at prospective properties.

Wholesale mortgage lending prices are generally quoted to mortgage brokers and smaller lending companies. The data compiled on a daily basis is a superior way to measure the day to day changes in the market and is a valuable tool you can use to shop around.