Getting a mortgage is one of the biggest financial commitments you’ll likely make in your life. But the UK mortgage market is vast with many lenders and products making it feel overwhelming especially if you’re a first-time buyer or have complex circumstances. This is where a mortgage broker can be invaluable acting as your expert guide.
But with many brokers out there, how do you find the right one? This guide answers the question: how do I find a mortgage broker?
In it, we’ll try to outline the practical steps and key considerations that will help you connect with a trusted professional who can assist your home-buying journey.
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What is a mortgage broker?
A mortgage broker is a specialist intermediary who connects people looking for a mortgage (borrowers) with financial institutions that provide them (lenders).
Their job is to assess your financial situation, understand your borrowing needs, search the market for suitable mortgage products, advise you on your options and often help manage the application process on your behalf.
Importantly in the UK mortgage brokers must be authorised and regulated by the Financial Conduct Authority (FCA).
Why use a mortgage broker?
While you can go directly to a lender to obtain a mortgage, using a broker offers several possible advantages:
- Brokers often have access to a broader range of deals than you might find yourself, including some exclusive products not available directly to consumers.
- Brokers understand lender criteria inside out which is especially helpful if your situation is unusual (for example if you are self-employed or have bad credit).
- Searching the market and comparing deals takes time. A broker does this legwork for you.
- Brokers can help ensure your application is presented correctly, potentially improving your chances of approval.
- A good broker recommends products based on your specific needs and circumstances, not just the cheapest rate.
Types of mortgage brokers
It’s helpful to understand that brokers can operate differently. Tied Brokers are linked to a single lender (like a bank’s own mortgage advisor) or a small panel of lenders. Their advice is restricted to the products they offer.
In contrast, Whole-of-Market Brokers can search and recommend mortgages from across most of the UK market offering much wider choice. They should tell you if there are any lenders they don’t deal with.
As well as access to different lenders and mortgages, brokers have different ways of being paid. Some charge the client a fee, some receive commission directly from the lender upon completion and some use a combination. It’s important to always ask for clarity on fees upfront.
How do I find a mortgage broker?
Getting a mortgage is a big financial commitment so it pays to do a bit of research when looking for your mortgage broker.
Step 1: Talk to friends, family or colleagues who’ve recently bought a home. Estate agents may also recommend brokers but be aware they might have commercial ties.
Step 2: Look for brokers who are members of professional organisations and trade bodies
Step 3: Some platforms integrate mortgage brokerage services, often providing access to whole-of-market advice alongside comparison tools.
Step 4: Before engaging with any broker check their firm is listed and authorised on the FCA Register (available free online). This confirms they meet regulatory standards.
What to ask a potential mortgage broker
Before committing don’t hesitate to ask questions:
- Are you a whole-of-market broker or tied/limited panel?
- How will you be paid for your services? Please explain any fees I might need to pay.
- What experience do you have helping people with circumstances similar to mine (e.g. first-time buyer, remortgaging or self-employed)?
- How will we primarily communicate?
- What information and documents will you need from me to get started?
A professional broker will be happy to answer these clearly.
Using OneDome’s mortgage service
When you’re wondering ‘How Do I Find A Mortgage Broker?’ this should not add more stress to your move. OneDome offers a streamlined mortgage service designed to simplify the process. We combine smart technology with friendly expert advice giving you access to thousands of mortgage deals from over 90 lenders across the market.
Our dedicated mortgage advisors guide you every step of the way, providing personalised recommendations and handling the application process seamlessly with our other home-moving services like conveyancing.
It’s a modern convenient approach to getting the mortgage advice you need.
OneDome is here to help
Choosing a mortgage is complex but OneDome is here to help. If you have any questions about our mortgage brokers, the wider mortgage process or want tailored advice on the different types of mortgages that suit your situation speak to our friendly mortgage advisors today or call us on 01489555080 or explore our comprehensive mortgage guide for a more in-depth breakdown.
Important: Your home may be repossessed if you do not keep up repayments on your mortgage.