0116 478 3919

Whole of Market – Best Rates – Fast Finance – FCA 667602

1 + 16 =

Please complete the above equation to prove you are not a robot.

(Data Protection) ICO Registered ZA115985 - We are committed to protecting your personal data & will never credit search without your permission

Mortgage Broker

If you have been considering applying for a mortgage, you may have wondered whether it is worth consulting with a mortgage broker. In this concise introductory guide, we will be looking at some of the pros and cons of working with a broker, rather than taking your business directly to a bank or lender.

What is a Mortgage Broker?

A mortgage broker is either an individual or an organisation that serves as a ‘go between’ for borrowers and lenders. When you approach a broker with the intention of taking out a loan, they can help you decide on the most appropriate product to suit your needs and compare the market to find you a good deal.

As most brokers are independent, they cancompare deals from a variety of lenders – many of which may offer their services exclusively via brokers.

Why Use a Mortgage Broker?

One of the biggest benefits of working with a broker is the simplification of the market comparison and application processes. Once you have provided your broker with a few basic details, they will typically handle most of the subsequent complexities on your behalf.

Working with an independent broker also means gaining access to honest and impartial information, which is rarely available directly from a bank or lender. Brokers can also provide access to exclusive deals you won’t find on the High Street, often from lenders that do not work directly with the public.

What Are the Pros and Cons of Mortgage Brokers?

The pros and cons that accompany working with a mortgage broker include the following:

Pros

Cons

Prior to committing to any given broker, book an obligation-free initial consultation and ask all the questions you need to decide if they are up to the job.

Last Updated: Apr 3, 2020 @ 1:43 pm
NACFB
UK Property Finance is Authorised by The Financial Conduct Authority (FCA)
Association of Bridging Professionals