Should I use a mortgage broker?

For most UK borrowers, a broker is worth it — particularly if your case is anything other than vanilla employed with a clean credit file.

What a broker actually does

• Reviews your finances and explains realistic options.
• Compares lender criteria, not just headline rates.
• Gets an Agreement in Principle from the right lender.
• Packages your application and chases the lender.
• Handles queries from underwriting.

Whole-of-market vs panel

A whole-of-market broker can recommend from any UK lender. A panel-only broker is restricted to a list. For complex cases, whole-of-market matters.

How brokers are paid

• Lender commission — paid by the lender, doesn’t come off your loan.
• Client fee — flat fee (typically £300–£999) or a percentage.
• Both — most common model.

When to skip the broker

If you’re doing a simple product transfer with your existing lender and the rate is acceptable, you can usually do it online in 15 minutes.