How to choose a mortgage broker?

Having an expert mortgage broker on your side can make applying for a mortgage a breeze, when compared to doing it all yourself.

But how do you choose a mortgage broker?

Most people will start their search online but we would also recommend asking friends and family who have recently used a mortgage broker and had a good experience.

All mortgage brokers have to be qualified and regulated by the FCA.

There are many aspects to consider but the main two should be:

• Ensure that the mortgage broker operates as a whole of market mortgage broker, so they are not restricted to just dealing with a handful of lenders
• Ensure the broker handling your case is experienced with your type of situation

The consumer organisation Which lists these key questions to ask a mortgage broker:

• Are you whole-of-market?
• Will you tell me about mortgages that are only available directly from lenders?
• What are your fees and charges?
• What is included in the service you offer? For example, will you handle all the admin and chase lenders?
• When will you be available – office hours only, or during evenings and weekends?
• Do you offer life insurance or mortgage protection insurance?

It’s common to start searching for local brokers. For example mortgage broker near me or mortgage broker in Bexleyheath, but the reality is that brokers can help you wherever they may be located. And some don’t even have physical offices, as they operate solely online.

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