Why should anyone use a broker?

There are many reasons why someone might want to use a mortgage broker. Firstly, it can save you a lot of time and hassle as they will do all the hard work for you. They will also have access to a wider range of mortgage products from different lenders, so you’re more likely to find the perfect deal.

For many people their situation means that the usual high street lenders aren’t interested. Fortunately, brokers can search beyond the high street to find specialist banks and lenders who are more flexible.

Can I get a mortgage without using a broker?

It is possible to get a mortgage without using a broker, but it’s generally not advisable. This is because brokers have access to exclusive deals and rates that you wouldn’t be able to find if you went directly to a lender. They will also be able to give you impartial advice and guidance throughout the process.

Are all mortgage brokers the same?

No, all mortgage brokers are not the same. There are different types of broker, such as whole-of-market, direct-only and fee-based brokers. It’s important to choose the right type of broker for your needs.

Whole-of-market brokers have access to products from all lenders, so they can find the best deal for your circumstances.

Direct-only brokers can only offer products from a single lender, or perhaps a very small panel. This means they may not be able to find the best deal for you.

Do I have to meet face to face?

Most mortgage brokers are happy to deal with clients over the phone, by video or online. However, some may require you to meet face to face in order to assess your financial situation.

What does “whole of market” mean?

Whole of market simply means that the broker can offer products from all lenders, not just a select few. This gives you more choice and increases your chances of finding the perfect deal.

Do brokers need to have a special qualification?

All mortgage brokers must be qualified and regulated by the Financial Conduct Authority (FCA). This means they have undergone extensive training and are required to adhere to strict rules and regulations.

How do I find a good mortgage broker?

There are a few things you can do to find a good mortgage broker. Firstly, you could ask family and friends for recommendations. Alternatively, you could search online. Once you’ve found a few brokers, make sure to check their credentials and reviews before making your final decision.

Let Respect Mortgages introduce you to an award winning independent mortgage broker who can provide expert advice right across the UK.