The Value of a Mortgage Broker

Over 75% of mortgage borrowers are using the services of a mortgage broker, and this is predicted to steadily increase, so why are the majority of property owners using an intermediary rather than going direct?

Put simply, mortgage advice from a reputable, independent broker can be an invaluable part of the mortgage process for the following reasons:

They can save you time – a mortgage can be a long and frankly exhausting process from researching your options, to deciding on the best lender, to completing the complicated paperwork. Using a broker means the whole process is quicker and smoother as their expert knowledge will mitigate any potential risks and match you to the most suitable lender. On top of this, the broker will expedite the whole application and administrative process, saving you precious time.

They can save you money – Whilst you may see low rates advertised, they are often ‘too good to be true’ and may not be suitable for your circumstances. An independent mortgage broker has spent years building up relationships with mortgage lenders to get exclusive access to niche lenders and private banks that cannot be accessed without using a broker. This enables them to find solutions for complex situations but with the most competitive rates available and often saving money where the client only has access to high street deals.

They are on your side – The mortgage broker works solely for the client with the specific aim to bring their knowledge, experience and expertise to give the right advice and make the necessary arrangements. The advice is unbiased and they will research a full range of products and lenders rather than being restricted to the single range of the lender you may choose to go to.

They know the industry – with internet access to so much information on mortgages, it is easy for borrowers to assume that a comparison website could do the work of a broker for them. However, these league tables cannot hope to reflect the individual circumstance of each borrower such as loan to value size, financial status, income levels, size of the loan, type of property etc. On top of that, add the rates, types of mortgage and repayment options and the field becomes more complicated. The brokers expertise will do this research for you, finding the bespoke solution to the individual need whilst navigating the regulatory requirements and exerting their influence on lenders if required.

So, in conclusion, whilst technology is advancing towards robo-advisers in the future, research shows that many borrowers would opt for personal advice through a broker for the speed, convenience and personal service that they can provide.  Many buyers find that once they have found the services of a good broker, it is someone that they return to in the future for remortgaging or moving home and so becomes a great long-term investment.

If you would like to speak to one of our brokers, please call 0207 317 2820 or email

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