Why use a mortgage broker?

Getting a mortgage is one of the biggest financial decisions you’ll make in your life, therefore it’s very important you get it right. What’s more, the mortgage market is immensely competitive, there are lots of different lenders and a range of products and rates and this can naturally create lots of stress and uncertainty.

In this article, we briefly explore the role of a mortgage broker and discuss why you should use a broker to arrange your mortgage.

What is a mortgage broker?

A mortgage broker is an individual or company that acts as an ‘intermediary’ between you and a mortgage lender. As an intermediary we act as the link between you and the mortgage lender to bring about an agreement. So in other words, we negotiate mortgage terms with your lender on your behalf.

Mortgage brokers will work with you and offer you regulated advice on mortgage products that suit you best. It’s these regulations which keep you safe and ensure that brokers are held accountable for the advice they give.

A mortgage broker will be able to offer advice on a wide range of mortgage products, and their in-depth understanding of the process will ensure the process runs smoothly and efficiently. Clients who use a mortgage broker do so as they want someone to assist them with all of the technicalities and take over the time consuming paperwork and communications with lenders and solicitors. A mortgage broker will also be able to help you find a route to achieving your financial goals.

Mortgage brokers, also known as financial advisers are regulated by the Financial Conduct Authority.  

Why use a mortgage broker?

There are many advantages to using a mortgage broker, we’ve listed the major advantages below:

Whole of market access

Mortgage brokers have access to the “whole market.” This means they can offer you a wide selection of loans through a host of different lenders. This is in contrast to obtaining a mortgage via a high street bank who can only offer you a product from their own range. You should be careful to make sure your mortgage broker is independent, as otherwise they may not be able to access the entire mortgage marketplace.


Using a mortgage broker will allow you to save large amounts of time. Most mortgage brokers are flexible with their approach, they might take calls after work hours and are sometimes even willing to meet you at a place most convenient to you. Your mortgage broker will also arrange all the necessary paperwork and liaise with the lender on your behalf, this ensures a smooth process.

Exclusive Rates

Mortgage brokers can often access exclusive products and interest rates that lenders can’t offer directly to their customers. Nonetheless, their advanced knowledge of the marketplace enables them to recommend products you may otherwise not have known about.

Best Advice

As we’ve already discussed, mortgage brokers are regulated by the financial conduct authority and are therefore legally obliged to give you the best advice for your unique circumstances. So if you speak to an independent mortgage broker such as Prospect Tree Mortgages, you can be reassured that not only are you seeing products from the whole market, but you’re also receiving the best advice for your personal situation.

Interested in how one of our brokers could help you?

Our team of mortgage brokers are ready to help you! So whether you’re looking to purchase your first property, are interested in reducing your monthly repayments with a remortgage, or perhaps you want to discuss equity release with one of our experts – Prospect Tree Mortgages are here to help.

How to get in touch

We always recommend calling us, this way we can quickly understand your situation and start helping you right away. Otherwise, you could email us if you have a specific question, or even drop us a message on WhatsApp.

If it’s outside of office hours then you can start online, and we’ll get working on your recommendations right away. Hit ‘start now’ to begin your mortgage journey online.

Will you charge me?

Don’t worry, we don’t charge for our mortgage advice. Instead, we collect a success fee once your mortgage offer has been received. So you can call us, get quotes and advice on the whole mortgage market before deciding whether you want to go ahead.

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