Benefits of Using a Mortgage Broker 

Comparing hundreds of home loans can be a daunting task and no matter how much of a priority you make it, other responsibilities take time out of comparing. One of the biggest advantages of using a mortgage broker is convenience. 

They can help you figure out what features you need from a loan and identify one to suit your needs. If you use a mortgage broker you should ask how many lenders they have on their panel. Most brokers should have around 10 different lenders products they are accredited to compare.

The brokers role is to act on your behalf, so make sure you feel comfortable with them and that they understand your needs. Don’t be shy to ask how long they have been operating and what experience and qualifications they have. Check out if the broker has professional indemnity insurance and is a member of the Credit Ombudsman Service, so you will have recourse if you have a complaint.

And most brokers offer their services to you for free. You shouldn’t have to pay your mortgage broker as they are paid commissions by the lender. They must disclose what those commissions are.