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3 Top Tips for Finding the Right Mortgage Broker


A mortgage broker is in essence a middle man between you and a mortgage provider. Whilst in many instances it is prudent to forgo the service of or avoid middlemen, there is of course an instance in which the exception proves the rule. That is, in most cases opting to secure a mortgage via a mortgage broker is the most cost effective means of finding the right mortgage, and securing it.

A mortgage broker is not only advised as a communicator of sorts between you and a potential mortgage provider; mortgage brokers are often the most reliable and valuable persons with which to discuss your mortgage application ahead of submitting. And, submitting a strong application in many cases will make or break your chances of securing a mortgage, or one which works in your favour rather than that of a provider’s, in most instances.

To learn more about the specific role of a mortgage broker and why it is well worth at least considering using one when applying for a mortgage, continue your research via The Truth about mortgage website article: What is a Mortgage Broker. Meanwhile, to learn how to find the right mortgage broker and get the most from investing in a mortgage broker’s services, read on; here are three top tips to ensure you get both the best mortgage broker and consequently and most appropriate mortgage, and so the best deal.

  1. Choose an Independent Mortgage Broker

The first thing to be sure to do when looking for the right mortgage broker is to only consider those who are working independently or broker firms which are run independently, such as Search Mortgage Solutions here in the UK.

Independent brokers and firms are able to provide agenda-free and unbiased advice for this reason; they are not beholden to any specific mortgage provider, bank or organisation which could affect or steer their judgement when offering advice.

This means that you can trust that they really are working for you rather than simply working you; an independent broker will always have your best interests at heart as their abilityto get you (rather than a mortgage provider) the best deal ensures you will in turn speak favourably of them. After all, an independent mortgage broker or firm’ssuccess as such will depend in no small part on their dedication and the level of service they provide their clients.

  1. Rely on Word of mouth

Speaking of reputation, and largely because of the point made above, always remember: when looking for a mortgage broker the best place to turn first is to your friends, family and colleagues.

Word of mouth advertising is not only and often the best and most reliable means of advertising, it is often in fact better than advertising, as is reiterated and explained further in marketing professor, Jonah Berg’ website article: Is Word of Mouth Better than Advertising?

The people who know you personally, care about you and have an emotionally invested interest in your well being are extremely unlikely to recommend a mortgage broker to you who they do not think is worthy of your time, or does not deserve considering. This is true not least because if the broker they recommend turns out to be anything less than great they will of course have to face you.

Secondly, word of mouth is in itself one of the most difficult types of press to get; too often even when a person or company provide a decent service or product, people simply do not pass this information on. The fact is we expect a decent level of service. Hence, we are far more likely to either ‘bad mouth’ or leave scathing online reviews when things go wrong or a service or product is poor than when it exceeds our expectations.

Therefore, and in conclusion, you can guarantee when a person does remember a firm or broker and does so favourably that said firm or broker must genuinely be worth at least looking into.

  1. Shop Around

Last but not least, shop around, even when looking for a mortgage broker. Fortunately, we live in the digital age. Hence, ‘shopping around’ couldn’t be easier. Simply head online and enter your criteria into an online search engine tool such as this one provided for free via the Unbiased website.

Once you have amassed a list of potential brokers and / or firms, continue your research by checking out each. Look specifically for online reviews. Also, never simply trust testimonials published via a specific firm or broker’s own website as these are of course going to be biased; no sensible broker or firm are going to publish negative or overly critical reviews of their own business on their own site.

Using a search engine is also a good way to familiarise yourself with the sorts of fees differing brokersand firms charge, enabling you to make a more savvy decision and remain in better control of your budget and finances, which is of course doubly important when looking to compile and submit a mortgage application, nevermind buy a house.

More Information

For those requiring or desirous to amass more knowledge ahead of searching for a mortgage broker or ahead of speaking with potential brokers and firms, a great place to continue your research is via the Money Saving Expert Website Guide: Cheap Mortgage Finding: How to Get the Best Deal For You.