Cashback Remortgages · Choosing advice
Choosing a Mortgage Broker Near You
Searching for a mortgage broker near you is a good start, but distance matters less than whether the firm is authorised, what range of lenders it can use and how it charges. Here's what to check.
Check the FCA register
Search the firm's name or firm reference number on the Financial Services Register. Confirm it has permission for mortgage advice, and check the trading names and address match what the firm tells you.
Whole-of-market, panel or tied?
A whole-of-market broker can consider lenders from across the market; a panel broker uses a set list; a tied adviser recommends one lender's products. Ask which applies and whether any direct-only deals are outside the range.
Ask how the broker is paid
Some brokers charge a fee, some are paid only by the lender, and some do both. The fee must be disclosed before you proceed. Ask when any fee is payable and whether it's refundable if the mortgage doesn't go ahead.
Read genuine reviews
Look at reviews on independent platforms such as Google, and read the recent ones, including how the firm responds to criticism. A star rating alone doesn't show whether a broker suits your circumstances.
Local knowledge and how you'll meet
A local broker may know area-specific issues such as leasehold flats, new-build developments or council schemes. But most mortgage advice now happens by phone or video, so check whether in-person meetings are available and by appointment.
Check they arrange the mortgage you need
Make sure the broker regularly arranges your type of mortgage, whether that's a first purchase, buy-to-let, self-employed income or credit problems.
Your questions, answered
Do I need a broker in my own town?
No. Advice by phone or video works well for most people. Choose on authorisation, lender range, fees and service rather than distance alone.
How do I know a broker is genuine?
Check the firm on the FCA Financial Services Register and contact it using the details shown there.
Sources and further reading
Published by Cashback Remortgages, a UK mortgage broker for all types of mortgages.
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.