100% Fee Free

5 Reasons Why Using A Mortgage Broker Is Better Than Going Direct To A Lender

When applying for a mortgage you have two initial options for finding a deal. You can either approach lenders directly or you can find a broker help find you a mortgage. Here at Search Mortgage Solutions we believe that brokers are by far your best option, no matter your situation, thats why we have put together 5 reasons you should choose a broker over going direct.

It’s Less Bureaucratic

One of the most off-putting and potentially damaging things about going direct is the manner in which many lenders or banks speak to you. The majority of us aren’t mortgage experts so it can be a bit overwhelming being bombarded with financial jargon, which only overcomplicates the situation. This either leaves the majority of us confused or signing a deal in blind faith, which is potentially very dangerous.

Brokers understand this and can walk you through each step of the application process in common-sensical terms. With their expert guidance in language you understand the process can be much simpler and won’t lead you into agreeing a deal that’s not right for you.

Their help is arguably more valuable than ever following the most recent Mortgage Market Review which has lead to the application process becoming even more complex.

They’ll Approach The Wider Market

A mistake made particularly by first time buyers is choosing to go straight to their existing bank for a mortgage. Making this decision can massively restrict your options because the current mortgage market is more expansive than it has ever been.

Because brokers aren’t tied down to a particular lender, they have the whole market at their disposal. Combining this with the ever expanding market and you obviously have a better opportunity for a cheaper deal.

They’ll Source Exclusive Deals

As previously mentioned the current market is expanding, which has paved the way for a new and previously non existent relationship to emerge. In the past there was a certain amount of distrust between lenders and brokers. (who were ore seen as the chancer/third party type)

This relationship has been a result of changes in standards of brokers, honour have to have official mortgage qualifications monitored by the FCA.

These changes have enabled brokers to communicate better with lenders and (depending on your unique situation) gather exclusive deals created just for you, something which would be impossible if you choose to go direct.

They’ll Do The Legwork

If you decide to go it alone and are confident enough analyse the wider market yourself then it can be a lengthy and time consuming process. Brokers are specialists at scouring the market and sourcing deals and have the professional know-how and specific mortgage IT systems to do so.

Why extend the process and burden yourself with even more stress when you can employ a professional to  do it for you?

They’ll Manage The Extraordinary

Having particularly extraordinary financial circumstances (such as being self employed) can often work against you when applying direct. This is because the application process is further complicated, and lenders are less comfortable in working with something out of the ordinary.

Don’t become frustrated or concede you’ll never get a mortgage if you have shared this experience, because mortgage brokers thrive on extraordinary circumstances. They understand you may need more help than most applicants and relish the opportunity of getting out in the lending world to find you a deal .

People become uncertain about working with mortgage brokers because they charge broker fees for their services. Though this is true in come cases it isn’t in all, and some earn their living through their deals with the lender, so it isn’t you who is stiff-armed with extra costs at a later date. This should be one of your first questions you ask a broker as there are plenty out there that don’t charge.


Search Mortgage Solutions
125 Deansgate,
M3 2BY
0161 710 2587


Think carefully before securing other debts against your home. Your home or property may be repossessed if you do not keep up with repayments on your mortgage

© 2023 - Search Mortgage Solutions - Mortgage Broker Manchester