Hello!
I just was sitting contemplating the nature and thinking about a new appartmnet or a house when an idea came to me. the idea is simple to start your own business, something like mortage shop. In the circumstances of the global economic recession and the crunch of the banking system it became very difficult to get a mortgage deal; by the way it was quite complicated process long before the downfall either. Will it be profitable to establish a special shop which will facilitate the clients to obtain the suitable mortgage?

Hi, Dandelion!
That is a good idea, because when I was thinking to take a loan, it took me around a month and a half to get to know all the banks and their conditions and demands, as long as all the necessary documents. To get the information is just a half of the deal, another problem is to chose the right scheme and to calculate the overpayment. So I think that this shop will be very popular as I know the similar service already exists.

Good luck!

Sorry to disappoint you,but so called mortgage shops already exist run by the mortgage brokers or financial advisers. They would usually be able to search the whole of the market and suggest the options most suitable to your individual circumstances. Unless you can offer a mortgage service with a difference, you may face a lot of competition. But all the best anyway!

As long as the mortgage broker is not employed by one particular bank, he or she could be a kinda 'mortgage shop' for you giving you the picture of what's available on the market at that particular time!

There are many of them around. Before you will be able to set up a mortgage shop you will need to pass a dozen of exams, apply for several licenses and get an authorisation by Financial Services. Many brokers are going out of business as they can't find many mortgages. Don't want to be mean, but do you know something we don't know? It will be very difficult as at the minute banks are not willing to lend any money.

agree with cat, it does not seem as easy as you may think.