Financial Conduct Authority No. 952718

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Are Mortgages Cheaper Through A Broker?

28 Mar

Mortgage News

When it comes to saving costs in getting your mortgage offer, it may seem more favourable to go directly to a bank or building society, or even undertake the research yourself. However, going through an independent mortgage broker can provide you with a wide range of benefits and wider access to the market’s available mortgage products. 

Our mortgage experts in Northamptonshire provide specialist knowledge to suit your requirements and help streamline the mortgage application process for you.

Mortgage Brokers vs Other Methods

There are many reasons why buyers use mortgage brokers over other methods. A mortgage broker or advisor can provide you with bespoke guidance and specialist expertise, which will save you time and money in the long run. We’ve rounded up the pros and cons of using a mortgage broker over other traditional methods: 

  • Mortgage Brokers vs Researching Yourself
  • Mortgage Brokers vs Speaking With A Bank 
  • Mortgage Brokers vs Financial Advisors

Mortgage Brokers vs Researching Yourself

Researching mortgage products yourself will mean you’ll be sacrificing time, energy, and possibly better mortgage offers. At CG The Mortgage Experts, we are experts in negotiating deals on your behalf and can save you valuable time which could be better spent in the process of buying or selling a home. 

In addition to this, if you have the potential to fall into a ‘high-risk’ category, a mortgage broker may stop you from experiencing a mortgage rejection on the basis of bad credit or, for example, in cases where you’re self-employed (and may need a self-employed mortgage). 

Mortgage Brokers vs Speaking with a Bank 

In choosing whether to go with a mortgage broker or speak with a bank, you may save a relatively small amount in fees when liaising with a bank or building society. However, chances are you’ll end up with a better deal long-term with a mortgage broker. This is because mortgage brokers have access to an array of unbiased options as a whole and can also help negotiate and complete the large amount of paperwork involved with an application, increasing your chances of success.  

Mortgage Brokers vs Financial Advisors 

Depending on the kind of financial advice you need will depend on whether you should speak with a mortgage broker or financial advisor. Financial advisors offer experience and guidance with a range of different financial products, including pensions and investments, but may not have as much specialist knowledge about mortgages specifically (when compared with a mortgage broker who deals with mortgage applications frequently). Consider what advice and products you’re after before deciding whether a financial advisor or mortgage broker is best suited for your current situation.

Speak To CG The Mortgage Experts Today! 

Applying for your mortgage with an independent mortgage broker is likely to get you a better deal over researching products yourself or going to a bank or building society. Our mortgage experts in Northamptonshire can provide you with tailored advice and guidance, and recommend suitable products from the market. If you’re currently considering your options for a mortgage and want to find out more, speak with one of our advisors today.

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