Many borrowers could find a mortgage unaided, but they pay us to find them the right mortgage.
Most lenders will take you on. What is hard is getting the most suitable mortgage.
This takes time and effort. You use a mortgage broker as he or she has already invested heavily in being able to source the most suitable deals for a wide range of clients. This is where considerable experience is applied.
You cannot be sure without a lot of effort that in trying to find your own mortgage you will end up with the best deal for you.
An experienced mortgage broker will be quicker and they will know the pitfalls and bear traps that can easily be fallen into.
It is not only the process of getting the mortgage we are concerned with here. It is the fallout afterwards.
Is the mortgage flexible enough to meet changes in the borrower’s lifestyle or employment? Does the product term reflect big foreseeable changes coming up? Does it provide a safe harbour through the choppy waters of Brexit?
Does the loan drop back at the end of a product term onto an exorbitant standard variable rate at a time when the borrower has suddenly just become self-employed? And if so, are there adequate product transfer options? What if there is a chance they want to rent the property out?