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Using a Mortgage Broker vs. Going Direct to Your Bank

Pete Mugleston

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By Alan Shaw. Email: alan (@)

In today's financial market, its unfortunately the case that loyalty means very little, sad but true. When you're looking for, well, anything, you do best spending time researching the best deal. No one bank always has the best rates, in fact, rates change weekly with most lenders and as a result they rise and fall all the time, so whoever tops the charts one week is likely to fall as time progresses. You could get lucky and walk into your bank on a Saturday when they are at the top, but with literally thousands of products on the market the chances of this are slim.

Using a broker

  • Access to every mortgage
  • Access to every insurer
  • Will shop around for you
  • Criteria knowledge to place you with the best lender
  • Bad credit, self-employed, retired, non-standard application - no problem
  • Support throughout the process
  • Out of hours contact
  • Home visits available

Going to your bank

  • Only one range of products
  • Only one insurance provider
  • You'll have to shop around yourself!
  • Market knowledge limited
  • Non-standard applications - limited to one set of criteria
  • Support limited to the mortgage
  • Limited to 9-5
  • Branch support only (usually)

With the majesty of the internet this data is now accessed almost instantly, and the process is much simpler and quicker. You can see the today's best rates from the whole market below - to ensure you're getting the best overall deal though, remember to factor in fee's as well as rate - sometimes borrowing at higher rates with cheaper fee's is far better.