Mortgage Broker

Mortgage brokers, much like solicitors, used to be found in your local area however now you will most likely work with the broker linked to your estate agent/developer or an online mortgage broker.

Agent/Developer referred

The selling agent or the developer often have a broker they work with and it is understandable why you'd work with them. All of you want to see you can get a mortgage. Whilst you'll want a solicitor who is independent to the agent protecting your interests, with a mortgage broker, all you want is to get the mortgage offer so whoever can get it to you as easily as possible is often the best choice.

The issue with using a referred mortgage advisor is if there is an issue or delay getting the mortgage - if the agent or developer chase then they will know you are having problems getting your mortgage. This is why having an independent mortgage advisor can protect you whilst you overcome the challenge as they are not obliged to inform the agent/developer of any issues.

Online Mortgage Broker

Which? completed a survey of 3,000 mortgage holders and 8% of them used an online mortgage broker, or 'robo adviser', such as Habito or Trussle. You can add to these London and Country (L&C) who is now topping many online search terms. You can google to find the best mortgage brokers based on Trustpilot or Google reviews.

Nowadays the movement to online will see this number increase as applicants are more and more comfortable applying for a mortgage online, instead of sat face to face in an office. It is likely though that face time will be used via Skype and Zoom in future mortgage applications to offer the complete feeling of a personal experience with a physical person.