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.
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.