What to Expect From Your Free Broadbench Financial Review
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What to Expect From Your Free Broadbench Financial Review
Taking the first step to sort out your mortgage or business protection can feel daunting, especially when your income structure is complex. You might be wondering if it will take up too much of your time, or if you will be pressured into buying products you don’t need.
At Broadbench, we believe in complete transparency. Our process is designed specifically for busy contractors, freelancers, and business owners. We do the heavy lifting so you can focus on your work. Here is exactly what you can expect when you book a consultation with us.
Your journey starts with a brief, informal introductory meeting. You will meet your dedicated Broadbench adviser, who will explain our services, our regulatory status, and establish a basic understanding of what you are looking to achieve, whether that is securing a Buy-to-Let Mortgage, setting up Executive Income Protection, or reviewing your existing cover. No documents are required at this stage.
Following the Welcome Call, we often have a Discovery Call to drill down on the relevant facts and figures our adviser will need to research the very best deals for our clients.
We gather the essential details about your income structure, day rate, IR35 status, and business setup. This allows us to research the market before we speak again, making the next conversation far more productive and saving you time.
This is where our expertise goes to work for you. We will present our tailored recommendations. If you are looking for a mortgage, we will discuss your options: fixed vs. tracker, term lengths, and fees and confirm exactly how much you can borrow based on contract-based underwriting.
If you are looking for protection, we will present the most tax-efficient structures, such as Relevant Life Cover or Income Protection. You will receive a Key Features Illustration (KFI) outlining the exact costs and benefits, and we will agree on the next steps together.
If you decide to proceed, we take over the administrative burden. We handle the application process, liaise with the lenders or insurers, and coordinate with underwriters. For mortgages, we also communicate with your estate agents and solicitors to ensure a smooth transaction. Your involvement is simply to provide the requested documents and sign where necessary.
Please note that mortgage advice may incur a fee; your Broadbench adviser will discuss this with you at every stage of your journey with us.
We don’t just recommend a product and walk away. We schedule regular reviews to ensure your products remain suitable as your career evolves. If your IR35 status changes, you secure a new contract, or you move from contracting to a permanent role, we will adjust your cover and mortgage arrangements to match.
Speak to a Broadbench Specialist
Our expert advisers have the skills and experience to find you the right financial products, specifically tailored for contractors and business owners.
Book your no-obligation Welcome Call today.
FAQs
Does it cost anything to review my existing policies?
No. We offer a complimentary, no-obligation review of your existing protection portfolio to ensure it still meets your needs and is structured tax-efficiently.
Refer to our Contractor Financial Glossary.
What if I have developed a health condition since taking out my original policy?
Do not cancel your existing policy. We will review your current cover and research the market. If new cover would be significantly more expensive or exclude your condition, we will advise you to keep your existing policy.
Can I change a personal life insurance policy to a Relevant Life policy?
You cannot simply “transfer” the tax status of an existing personal policy. However, we can help you set up a new Relevant Life policy through your company and then cancel the personal one, ensuring you have continuous cover throughout.
Do I need to prepare any documents for the Welcome Call?
No. The Welcome Call is simply an introductory chat to understand your high-level goals. We will request specific documents later in the process.
Are your recommendations tied to specific providers?
No. We are independent brokers, meaning we search the whole market to find the best mortgage and protection products for your specific circumstances.
What happens if I decide not to proceed after the Discovery Call?
You are under no obligation to proceed. If you decide our recommendations aren’t right for you at this time, you simply walk away with a better understanding of your options at no cost.
Ready to cut through the red tape?
Fill out the form below to arrange a time to speak to a Broadbench adviser who specialises in Contractor Protection and Mortgages.