Whether you are a first-time buyer looking to get on the property ladder or an existing homeowner about to move home or coming up to remortgage, a mortgage broker should be your first port of call.
Generally speaking, there are three types of mortgage brokers:-
Those that are tied to just one lender.
Those that sell mortgages from a restricted panel of lenders.
And those that sell from across the market.
DebtFC recommends that people always visit a whole of market mortgage broker to ensure you get the best possible deal out there.
If a broker is ‘whole of market’, this means that when picking out suitable mortgages for you, it will compare every mortgage available to brokers to find the best deals. In contrast to this, some brokers operate off a small panel of lenders (therefore searching fewer deals), as that makes it simpler and cheaper for them to operate.
Please note that, when it comes to mortgages, 'whole of market' advice is still restricted as lenders such as First Direct and HSBC do not sell their mortgage via brokers.