Mortgage Broker vs the Bank

When seeking a new mortgage, it may be tempting to go it alone and arrange the finance yourself but have you considered the benefits that may be offered by a good mortgage broker?

It’s a choice that is increasingly being taken by the public with approximately 70% of all mortgages now arranged by mortgage brokers. So what can we do that you can’t?

Firstly, we will meet on an evening, during the day at your home, work or our office and also work weekends – in other words at a time and place to suit you. This service cannot usually be offered by banks and they will almost certainly have far longer waiting times, especially if a weekend appointment is required

Secondly, the mortgage market is much more complex than you might think. Each bank/building society targets different types of customers and the criteria between lenders varies widely. For example, some lenders may favour first time buyers, others may prefer the self-employed and the affordability calculators used by lenders can result in a wide variance from one lender to another in terms of how much you can borrow. If you are needing to borrow at the upper end of your salary, this can be the difference between buying the dream home or settling for second best. By going only to your bank you restrict all of this choice.

As an independent broker, we are acting solely for you. We find the most suitable mortgage for you based on your circumstances and should our advice ever fall down, you are protected and may be compensated.

We also have access to lenders that do not operate on the High Street and who only distribute their products via brokers such as ourselves. As such, our choice of products that you can access is much greater than if you were to go it alone via your bank.

Put simply, what have you got to lose? You can still compare products from the internet or newspaper to sense check and even challenge the advice we offer! We are confident that you will agree and our client testimonials back this up.

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