finding a mortgage broker

Finding a Mortgage Broker – A mortgage broker will take the leg work out of looking for a mortgage. They will research the mortgage market, compare different deals, charges and criteria.

When you’re looking to get a great mortgage deal it seems like there are just about the same number of mortgage brokers out there as there are mortgage deals, so how can you find a good mortgage broker in Croydon and Bromley?

Earlier this year we heard that finding the right mortgage adviser to help you with choosing the right mortgage can have a big impact on the cost of a mortgage. One of the reasons for this could be access to a wide range of lenders. Some brokers however have a limited range of providers, while others may have access to more than 60 different mortgages.

How do brokers get paid ?

Most mortgage brokers get paid a commission by the lender when arranging your mortgage, this is known as a procuration fee. The amount brokers are paid is typically a few hundred pounds per mortgage. 

Some mortgage advisers charge a fee for their advice. In most cases the broker fee is paid in addition to what they receive from a mortgage provider. Broker fees vary from a few hundred pounds to as much as 1% of the amount you’re borrowing. A typical fee would be £495.

There are other advisers who don’t charge advice fees and are happy to receive just the procuration fee. These are called “fees free mortgage brokers”

The level of advice you receive should be the same, regardless of whether you pay a fee, however, it isn’t always the case.

So how do you find a broker ?

Check out the brokers website. Read the broker’s client testimonials. Speak with one of the advisers and get a feel for how they operate. Ask as many questions as you need. Call a few local brokers and compare how they treated you when you called. Compare the initial service you received, because that’s a sure indication of what it’ll be like when you use them.

Make sure they’re giving you advice, not just comparing rates and recommending the lowest. A mortgage isn’t simply about cheap rates, although they help obviously. Comparison website are great for getting an idea of what mortgage rates are available.

What’s the advantage of using a mortgage broker ?

A mortgage broker will take the leg work out of looking for a mortgage. They will research the mortgage market, compare different deals, charges and criteria. All of which can affect the overall cost of your mortgage. 

When a mortgage broker makes a recommendation, they are giving advice. Mortgage Brokers must hold appropriate qualifications and they have a duty of care to give clients the best advice possible. You can check out the FCA website to make sure your mortgage broker is registered.



Massey Divall Financial Services are an appointed representative of The Right Mortgage Limited which is authorised and regulated by the Financial Conduct Authority.

The Financial Conduct Authority does not regulate most buy to let mortgages.

The guidance and /or advice contained within this website is subject to UK regulatory regime and is therefore targeted at consumers based in the UK

Conveyancing isn’t regulated by the Financial Conduct Authority.

Local Mortgage Advice for Croydon

Fees Free

We do not charge a fee for mortgage advice. We offer customers fee free mortgage advice. Our expert mortgage advisers will help you get a market leading mortgage deal. We help you throughout the entire mortgage process. There are no hidden costs or surprises. Try our fee free advice for your mortgage.


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