There’s an awful lot to think about when choosing the right mortgage. It’s not as simple as just opting for the cheapest fixed or tracker rate mortgage you can find!

Mortgage brokers have to be qualified to give you mortgage advice.

An independent mortgage broker will look for the best mortgage for you. They aren’t on the lender’s side, they’re on yours, and they’ll give you access to far more products than if you went direct.

You’d get unbiased advice and could choose from a range of lenders and subsequent products, rather than being restricted to the single range of the lender you go to.

A broker deals with lenders on a day-to-day basis, so they’ll know what the application process is like for each one and can tell you which lender can process your application with minimal delays.

They also know the background criteria that a lender has and can bring this experience to bear when advising you and processing your application.

Then there’s the fact that, because a mortgage broker may put a lot of business to a particular lender in a year, they can exert influence and chase things in a way you just can’t do by yourself – and that can be invaluable should things get held up.

A mortgage broker won’t just advise you about your mortgage. They will also look at any related life insurance, payment protection and even buildings and contents insurance you have.

They will recommend insurance based on your new mortgage arrangements to make sure you are fully protected in the event of:

Death
Critical illness (such as cancer, heart attack or stroke)
Redundancy

Mortgages are a lot more difficult than they first appear. Knowing what rate, what term, what lender, what features and what insurance to get are all time-consuming and complex matters.
Choosing a mortgage is a process far more complicated than simply opting for the lowest rate or the best incentives.

A mortgage broker takes your whole circumstances into account to recommend a suitable product, and it’s that thorough, professional look at your finances that makes advice well worth paying for.

Lenders and insurers pay the mortgage broker commission for putting your business their way. You don’t pay them.