Cashback Remortgages · Mortgage knowledge
Choosing and Working with a Mortgage Broker
Choosing a broker is a decision about the service as well as the eventual product. Start by understanding what the adviser does, then compare lender range, permissions, fees and communication.
Understand the role before choosing
A broker discusses your circumstances and suitable available mortgages and can support an application. The lender still makes the lending decision, and your conveyancer handles legal work. Keeping these responsibilities separate helps you ask better questions.
Compare the advice service
Ask the same core questions of each firm: what product range is considered, what you pay, how the broker is remunerated and who handles the case. Verify the firm independently rather than relying on a review score or a best-broker slogan.
Prepare for the conversation
Write down your budget, borrowing purpose, deposit or equity and any anticipated changes. Bring questions about the property and any offers you have found. Explain unusual income or credit circumstances early so the adviser can discuss whether the service fits.
An initial enquiry is not an application or a guarantee of approval. You should understand any fee and the recommendation before committing to proceed.
Sources and further reading
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.