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My Trussle Review: The Best Online Mortgage Broker?

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Trussle is arguably one of the biggest and best-known online mortgage brokers. In spring of 2019 I was on the hunt for my very first mortgage, and I decided to give them a go.

In this article we’ll discuss every aspect of applying for a mortgage through Trussle – from someone that has just done it. 

What follows on my impartial, independent review of Trussle. They haven’t paid me to write this article so I can discuss both the good and the bad. Indeed, Trussle don’t even know that I’m writing this. 

With that out of the way, let’s get on with my detailed Trussle review!

Why Use an Online Mortgage Broker Like Trussle To Start With?

If you already know the benefits of online mortgage brokers then feel free to skip to the next section. However if you’ve just heard the name “Trussle” mentioned but you don’t know why you want to use them then read on…

So – why use a mortgage broker rather than popping down to your bank? And why choose an online broker rather than using the local one that your estate agent recommends?

Here’s the thing – your bank probably only offers a very limited range of mortgage options. These might not be the cheapest or the best, especially if you have unusual circumstances. 

Maybe you’re self employed. 

Maybe you’re an older borrower. 

Perhaps you’ve only got a tiny deposit. 

But even youngsters with big deposits can still benefit from comparing mortgages – and the more you compare the more likely you’ll find one that’s just right. And that’s what a mortgage broker does. They compare loads of mortgages from dozens of providers to find the best fit for your situation. 

With Trussle there’s no cost to sign up, so there’s pretty much no risk. Even better, if you decide to go ahead with their recommendation it still won’t cost you anything – the mortgage lender themselves pay a commission to Trussle to thank them for the business.

Essentially you have someone working hard to find you the best deal, then hold your hand right through the application process. They guide and coach you, helping you to overcome any obstacles. And for free. 

Frankly, I think you’d have to be mad not to use a mortgage broker these days.

And online versus your highstreet? Well, online brokers like Trussle offer one of the widest ranges of lenders (meaning more choices for you) and you can fill in the application forms online from the comfort of your own home. I spent less than an hour filling in the paperwork needed to get the ball rolling – all on one evening after work. What could be easier?

The Mortgage Application Process

The Trussle mortgage application process is very simple indeed. Once you’ve signed up for a free account you simply log in, upload the requested documents and complete a few details.

The whole process is very simple and straightforward. You could probably apply for a mortgage quicker than you can cook dinner. 

If there’s a sticking point here it’s the information that Trussle need. To be fair, though, it’s pretty much the same with all brokers and lenders. So make sure you’ve got online banking set up, and I also recommend you buy yourself a cheap printer/scanner from Amazon. That makes completing any paperwork a lot easier. 

Once you’ve submitted the required information you just need to sit back while your personal account manager assesses your application and makes some recommendations.

The Trussle website says it can take 24 hours for them to get back to you, but in my case I heard back a lot sooner.

Infact, just for fun, I just went back through my emails to see just how quick the response took.

The first email I received from Trussle came when I signed up at 5.09pm. The mortgage recommendations were sent through at 6.36pm – and that’s after we had a chat on the phone. Now that’s quick! 

Your Mortgage Recommendations

I couldn’t believe just how rapidly my broker rang me back. As someone who dislikes talking on the phone I was reassured what a relaxed and pleasant call it was.

Part of the reason why I applied through Trussle was down to issues I had with another broker. Essentially the mortgage provider they had recommended only worked with specific conveyancers.

Sadly, I had already instructed a conveyancer who wasn’t on their list so found myself in a catch-22 situation. I mean – as a first time buyer I didn’t even realise this was a thing! I assumed any mortgage lender would work with any solicitor. Apparently not.

Anyway, I explained this to the broker at Trussle and he told me it shouldn’t be an issue. Before making his recommendations he said he’d double-check that they worked with my solicitor. 

It didn’t take long for Trussle to make some suggestions based on my appetite for early repayment, monthly payments and fixed rate length. I received two options, and personally I thought they were both solid suggestions. 

I let the broker know my preference and he set to work getting the application processed.

Hand-Holding Throughout

Once I’d made the decision I had not one but two different people working on my behalf. The first was my original broker – the guy who listened to my needs, answered my questions and presented recommendations. 

Alongside him, though, was another account manager who focused on the lenders. While my broker kept me informed of progress, the other account manager ensured everything passed smoothly through the lender. He kept an eye on progress, and fed back any news.

I’ll be honest – there was a small hiccup. One tiny issue with my application. All the same Trussle kept me informed and proposed a solution. It worked for everyone.

The Final Result

It took me a few days from deciding on the best mortgage to having all the paperwork in order. Indeed, while I signed up with Trussle on February 20th, it wasn’t until the 28th that I had gathered all the paperwork needed and finally felt confident enough to flip the switch. 

Looking through my email trail now I can see an agreement in principle happened within days. The final mortgage approval came through on March 13th. So that’s less than two weeks from application. 

Of course I can’t say whether that’s typical – I’m sure some are done quicker and others take much longer depending on their complexity. 

But essentially I went from knowing nothing as a first time buyer, to being walked through the whole process, to getting final approval in roughly three weeks total – from February 20th to March 13th. And a week of that was me messing around getting paperwork organised.  

I moved into my new home in April 2019 and I haven’t looked back since – finally a homeowner!

My Trussle Review Conclusion

I’ll be honest with you – Trussle wasn’t my first choice when it came to mortgage broker. Not that they’re bad at all – I just hadn’t heard much about them in the press. Only when another broker messed me about did I decide to give Trussle a spin – and I’m so glad I did.

Every member of the team that I spoke to was patient and professional. It felt like Trussle had my best interests at heart and was fighting my corner to get this over the line. The customer service was beyond reproach and the only way to describe my broker would be “a gentleman”.

I think their recommended mortgages were smart and accurate, and their guidance through the application process reduced a lot of stress for me. If you’re nervous about applying for a mortgage then this sort of support can be invaluable.

At the end of the day I’m thrilled with my Trussle experience. And when it comes time to switch out at the end of my fixed rate period I’ll happily use their services again. To me, it really was a 10/10 experience – and that’s a very rare experience these days. 

Why are you considering Trussle? What are your experiences of applying for a mortgage? Why not leave your thoughts and experiences in the comments section below so that other visitors can benefit?

Richard

Sun-worshipper and obsessive frugality blogger. For loads more money-saving advice come and join us on Facebook.

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