Is Using A Mortgage Broker Worth It?: In a recent video, I spoke to top mortgage broker, Andrew Clothier of Regents Court Financial. In the video, we demystify everything you need to know about property finance in the UK. We also spoke about the latest updates in the mortgage market and how some mortgage rates could be misunderstood by consumers.
If you want to have an understanding of what mortgage products are available in 2025, particularly if you are a property investor, watch the full video at the top of the page.
Speaking to a mortgage broker can help you gain a lot of knowledge about property financing. But is using a mortgage broker worth it? Is paying a fee for mortgage advice worth the money or are you better off going it alone? Can you save money by using a “free” mortgage broker who gets paid a commission by the lender?
In this article, I will give you 3 reasons why using a good mortgage broker is worth the money! I will explain: how you can get a mortgage even if you were refused by your bank; how you can lose out by not getting advice; and why it doesn’t always pay to get something for free!
A lot of people are asking ‘is using a mortgage broker worth it?’ but often do not have access to reliable information to make a decision. Please consider sharing this article on social media, to help spread property education. You could save your followers thousands, and they will thank you for it!
1. Is Using A Mortgage Broker Worth It?: They Can Find You A Mortgage When Your Bank Can’t!
Sometimes as a property trainer, I will speak to people who will tell me they can’t get a mortgage. But the only place they have tried is their bank! The reality is, there are many lenders available all with differing criteria.
A good independent mortgage broker will be able to look at your circumstances, and have an idea of the lenders who may say ‘yes’ to you!
2. Is Using A Mortgage Broker Worth It?: They Can Help You Pick The Right Mortgage Product!
Andrew spoke about the fact that lenders often can’t offer advice. That means the customer is left to choose a mortgage product to apply for. The borrower sometimes realises later that they have chosen a product that isn’t the best for them.
However, there is nothing that they can do about it. The lender correctly didn’t offer them any advice at the time they took out the mortgage, because they are not allowed to do so. Using a mortgage broker, who could give them advice, would have saved them a lot of money!
3. Is Using A Mortgage Broker Worth It?: You Get What You Pay For!
Andrew spoke about someone who had the right to buy their Council house. They decided to use a large mortgage broker firm that didn’t charge a fee. The broker instead simply got a commission from the lender. However, the broker was unaware the house wasn’t standard construction. This meant the lender pulled out.
The borrower then came to Andrew, who could immediately see on Google Maps that the property wasn’t standard construction! The borrower is now buying the house with a different lender. However, they now have a much smaller discount because of changes to the Right to Buy scheme. Trying to save money cost them a lot in the end!
Is Using A Mortgage Broker Worth It? And Other Property Questions!
Is using a mortgage broker worth it? Yes it is, and now you know why! Do you have more property questions? Join me at my next introductory training event!
We have different courses throughout the year, each teaching different things. Here is a sample of what you could learn on one of our popular introductory courses:
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Become a property investor using other people’s money so that you can get started straight away
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Utilise the 5 different types of raised finance so that you know exactly what to offer and when
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Find the perfect properties for the BRRR strategy
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Recycle your money so that you can ‘rinse and repeat’
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Build a power team you can trust, so that you can save time and money
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And much more!
Tickets aren’t expensive, so book your property training day now. If you are ready to take action, I hope to see you very soon! If you can’t make it in person, we also have virtual events too!
