What does a mortgage broker do?

Lisa Parker
May 25, 2023

What is a mortgage broker?

Even if you aren't a first time buyer, when you apply for a mortgage the whole procedure can seem confusing and overwhelming. That’s where a mortgage broker comes in.

They could save you time, effort and most importantly money by utilising their expert mortgage knowledge to get you the best deal – a deal, perhaps, you might not have found on your own.

You’re probably thinking, “That all sounds great, but how much will it cost?”. The good news is that f you choose a broker like L&C, you can get all this and more completely for free.

What does a mortgage broker do?

A mortgage broker helps you understand the mortgage process and will try to get you the best deal for your circumstances.

They are your guide through the daunting prospect of deciding which mortgage is best for your situation. Your mortgage broker will also explain rates, the different types of mortgages and how long is best to borrow for.

Once you have decided on a broker, they'll start to gather the details about your situation, the property you want to buy or remortgage and your longer term plans and use this information to find the most suitable deal for you.

After this has been completed and you're happy with the deal, the broker will submit your application to a lender and will deal with both parties to ensure everything runs smoothly.

And as a fee free mortgage broker – you can’t say much fairer than that!

Fee-free mortgage brokers

I know what you’re thinking – a mortgage broker that doesn’t charge a fee? It sounds too good to be true!

In fact, we do receive a fee, but it comes from the lender when a new mortgage completes, not the borrower. A lot of mortgage brokers will charge you a fee on top of the fee they get from the lender, but not us. Using a fee-free broker is a great way to save money during an already costly process.

Just to be clear: there are no hidden costs for borrowers at all. For clarity, you can read our key facts page.

The important features

  1. A mortgage broker is sometimes able to secure a better rate for your mortgage than if you went directly to the lender yourself.  
  2. If you want reliable, impartial advice then one of the best options is to go to a broker, as they will be able to give you balanced advice on a large range of lenders products and criteria  
  3. We know that it is expensive to move house, but one of the best ways to save money is to go to a mortgage broker that is fee-free. This alone could end up saving you thousands over the term of your mortgage.

Should I use a mortgage broker?

Of course we'll say yes, but in reality a broker can provide invaluable help in an already busy and difficult time, taking a lot of the stress away.  It's even better if you can find a fee-free broker.

When you apply through London & Country - L&C Mortgages you will have your own dedicated mortgage advisor and can track the progress of your application online.

One essential part of a mortgage broker’s job is to remain impartial. Their only concern should be to find the best deal for you, completely tailored to your situation.

If you use a mortgage broker like London and Country - L&C Mortgages, you could end up saving yourself hundreds of pounds in mortgage broker fees as well as securing a competitive interest rate.

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