Getting a mortgage and deciding whether to work through a mortgage broker or go directly to the provider is one of the biggest financial decisions you will make in your life.\r\n\r\nThe mortgage you take out will have serious financial implications for your future, so it\u2019s well worth taking the time to find out which route to a mortgage is right for you.\r\n\r\nWorking with an experienced, competent mortgage broker could help you find the right mortgage and potentially save you thousands of pounds.\r\n\r\nIn this article we will explore:\r\n<ul>\r\n \t<li><a href="#benefits">What are the benefits of using a mortgage broker?<\/a><\/li>\r\n \t<li><a href="#not-use">Why should I not use a mortgage broker?<\/a><\/li>\r\n \t<li><a href="#use-or-not">Should I use a mortgage broker or not?<\/a><\/li>\r\n \t<li><a href="#good-bad">Are mortgage brokers a good or bad idea?<\/a><\/li>\r\n \t<li><a href="#advantage">What is the advantage of a mortgage broker?<\/a><\/li>\r\n \t<li><a href="#good">How good are mortgage brokers?<\/a><\/li>\r\n \t<li><a href="#expert">Speak to an expert advisor today!<\/a><\/li>\r\n<\/ul>\r\n[feefo-banner]\r\n<h2 id="benefits">What are the benefits of using a mortgage broker?<\/h2>\r\nOne of the main benefits of choosing to arrange your mortgage through a broker is that they know how to quickly scan the whole market and offer you a wide range of mortgage products. This can give you access to hidden deals that are only available through a broker as well as save you the legwork.\r\n\r\nGoing direct to a bank or building society means you will be restricted to products just from that lender. A mortgage broker will search the entire market to find the best deal for your circumstances.\r\n\r\nA broker can also protect you from any lenders with troublesome payment terms hidden in their mortgage contracts.\r\n\r\nWorking with the right mortgage broker can save you time and money and give you the security of knowing you\u2019ve had expert advice.\r\n<h2 id="not-use">Why should I not use a mortgage broker?<\/h2>\r\nPretty much the only scenario when using a broker is not recommended is when you\u2019re 100% confident that you can arrange the best mortgage for your needs and circumstances yourself. This is largely limited to people who work within the industry and have whole-of-market access.\r\n\r\nThat said, some brokers may have interests which are not fully aligned with your own, and offer you a mortgage package where you may not get the best deal. You can safeguard against this by working with an experienced broker with a solid reputation for client service.\r\n\r\nAt Online Mortgage Advisor we carefully select highly qualified, award-winning brokers who offer a top-notch service: our commitment to excellent service shows in our 5-star Feefo rating and customer reviews.\r\n\r\nIf you\u2019d like help in finding the right mortgage broker for your needs, give us a call on 0808 189 2301 or <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-specialist-broker" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">make an enquiry<\/a>.\r\n<h2 id="use-or-not">Should I use a mortgage broker or not?<\/h2>\r\nUnless you work in the industry and have access to every mortgage deal on the market, <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/mortgage-broker\/getting-started-with-mortgage-broker\/">applying through a broker<\/a> is the best course of action.\r\n\r\nBrokers often have access to exclusive mortgage deals, and they may also be able to get special rates from lenders that could be better than what you could get on your own. As lenders target broker\u2019s business the rates they offer via the intermediary channels are often lower than the ones you can access yourself.\r\n\r\nThey take much of the hard legwork out of getting a mortgage.\r\n\r\nHowever, it can be beneficial to do some of your own basic online searches to a feel for the market dynamics and rates before contacting a broker.\r\n\r\nTry to find out which mortgages may be available to you, so you can gauge whether the deal a broker finds you are better than what you could find on your own. This will also provide you with some knowledge which will not only help your decision making but also potentially improve your liaison with a broker.\r\n<h2 id="good-bad">Are mortgage brokers a good or bad idea?<\/h2>\r\nHere are some of the benefits of working through a broker:\r\n<ul>\r\n \t<li>A good broker can help you with making financial decisions associated with <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/blog\/how-to-save-money-moving-home\/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">moving home<\/a> and mortgages.<\/li>\r\n \t<li>A mortgage broker will take the legwork out of looking for a mortgage.<\/li>\r\n \t<li>A broker can help you in cases where you have specialist requirements, which may make it more difficult to find a mortgage on your own.<\/li>\r\n \t<li>Many mortgages are only available through a broker - they have access to more deals, which means more choices, and a higher chance of getting a low rate.<\/li>\r\n \t<li>A mortgage broker will ensure you qualify for the deal you apply for, reducing any potential negative impact on your <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/your-credit-score\/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">credit rating<\/a>.<\/li>\r\n \t<li>A mortgage broker will liaise with estate agents and solicitors keeping your purchase or remortgage on track, saving you time and effort.<\/li>\r\n<\/ul>\r\nSituations were getting a broker may not be beneficial:\r\n<ul>\r\n \t<li>Mortgages where a lender may offer home buyers the same terms they offer brokers, meaning you fail to gain any added benefit<\/li>\r\n \t<li>If you have a lot of experience in taking out mortgages and have the time and energy to do all the legwork yourself.<\/li>\r\n<\/ul>\r\n<h2 id="advantage">What is the advantage of a mortgage broker?<\/h2>\r\nWorking with a competent mortgage broker can save you time and money.\r\n\r\nMost advisors will have access to exclusive broker deals, which could be better than what you\u2019d get if you went directly to the lender.\r\n\r\nIndependent mortgage brokers will assess just about every deal on the market to find you the right one.\r\n\r\nBrokers are an especially attractive option for people looking for specialist mortgages, or for borrowers with <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/bad-credit-mortgages\/how-to-get-a-mortgage-with-bad-credit\/#low-credit-score">low credit scores<\/a> or are looking for a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/income-types\/low-income\/">low-income mortgage<\/a>. An experienced mortgage broker will ensure you\u2019re taken directly to the right lender and save any potential negative impact on your credit rating.\r\n<h2 id="good">How good are mortgage brokers?<\/h2>\r\nSo how good are mortgage brokers, and is it really worth working with one?\r\n\r\nIn addition to securing a good interest rate, some mortgage brokers can help save you payments on additional fees by finding a lender that charges less than many of their competitors.\r\n\r\nOn the other hand, you may have to pay the broker a fee. It\u2019s best to factor this fee into your mortgage costs to calculate how much of a deal you\u2019re getting by working with the broker.\r\n\r\nAlthough, of course, the benefits of a broker go beyond money and into saving you time, hassle, and the stress of not having expert financial guidance. A good mortgage broker will be transparent about any fees, operate independent of lenders and always act in your best interests.\r\n\r\nMany of the brokers we work with operate on a success-only model, meaning that they will only get paid in the form of commission from the lender\u00a0and\/or fees from yourself if they successfully help you secure a mortgage.\r\n<h2 id="expert">Speak to an expert mortgage broker<\/h2>\r\nWorking through a mortgage broker can offer many advantages, but you\u2019ll need to be able to decipher how good a mortgage broker is.\r\n\r\nSome key factors to look out for are whether or not the broker is independent, the number of loans they have access to, what their reputation is, and how much their fees are.\r\n\r\nAt Online Mortgage Advisor we\u2019ve done the hard work of vetting brokers for you and can put you directly in touch with the right broker for your needs.\r\n\r\nWhether you\u2019re a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/first-time-buyer-mortgages\/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">first-time buyer<\/a>\u00a0or an experienced homeowner, the brokers we work with can help you compare mortgages and find the very best deal for your home. Call Online Mortgage Advisor on 0808 189 2301 or make a quick <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-specialist-broker" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">online enquiry<\/a>.