Please note: Our Bolton branch is closed. However, our Newcastle branch remains operational and we are always happy to offer nationwide financial advice and guidance. Our advisers remain contactable at info@b-advised.co.uk.

B-Advised Blog

Why you should use a Mortgage Broker


The time has come for you to start looking for a mortgage. After years of carefully working and planning towards this point, it’s a big step to take. With an overwhelming number of lenders and deals out there on the market, however, you may be feeling a little overwhelmed. If so, it could be time to consider working with a mortgage broker.

Securing a mortgage is one of the major financial hurdles that you will cross in your life. As such, it’s certainly not to be taken lightly and will have very real financial implications for you in the future. For this reason, many people choose to work with a mortgage broker in order to ensure that they are securing the very best deal. Some buyers, however, skip out on working with a broker in an attempt to keep their costs down, despite the fact that this choice may end up costing them more in the long term.

So, we’re here today to tell you why you should employ the assistance of a broker, as we’re confident that it will be of benefit to you in the long run.

1/We have access to the very best deals

One of the primary benefits of working with a mortgage broker is that they have an overview of the entire market.

This means that they can easily present to you a variety of offers and deals from a broad spectrum of lenders. Plus, because of their position within the market, they are also able to provide you with access to deals that are only available to brokers that you wouldn’t otherwise have access to. This means that they will be best positioned to offer you the greatest value in terms of interest rates and repayment amounts.

Going directly to your bank or building society means that you are limited to only the products on offer from that particular lender. Working with a mortgage broker, however, will mean you can access the deals that are best for you and your needs, this is because your broker will represent your interests rather than the interests of a lending body.

Businesswoman offering to shake hands as client signs mortgage.

2/ We provide expert financial advice

As well as a wealth of knowledge and market insight, brokers have a duty of care that requires them to give you the very best and most relevant advice that they can, rather than simply encouraging you towards the option that will offer them the highest commission.

Here at B-Advised, you can be confident that our brokers are working from the perspective of what is best for you, first and foremost. With decades of industry experience and a wealth of qualifications, our brokers are ideally positioned to assist you in securing the very best deal.

3/ You can ditch the legwork

Of course, entrusting your broker with the responsibility of researching the best deals will ultimately save you a huge amount of time and stress.

Trying to navigate the market when you aren’t familiar with it can end up being incredibly time-consuming and pretty overwhelming. When you’re trying to juggle all of your other responsibilities and commitments, you’ll be grateful to be able to leave your mortgage in the hands of a professional, experienced broker who can take care of everything for you and do all of the tiresome legwork!

You’ll also be able to avoid all of the tiresome jargon and paperwork that comes as part and parcel with the world of mortgage financing. Our brokers will simply need a few documents and a signature here and there, and they’ll take care of the rest. With all of the cumbersome admin off your shoulders, you can focus on the exciting bit – the move itself!

Man adding coins to a jar labelled savings

4/ We can save you money

Of course, one of the primary benefits of working with a broker is that they will save you money!

Our mortgage brokers here at B-Advised are offered loans on a wholesale basis from lenders, which means that they can offer you only the very best rates that are available on the market. Ultimately, this serves to keep the total cost of the loan down.

The most reputable brokers will of course help you to secure your mortgage at the very best rate and will be entirely transparent with any costs, too. Your broker will be responsible for laying out the total cost of the loan, as well as their fees, and breaking it down for you so that you can understand where your hard-earned money is going!

5/ We can help you avoid detrimental DIPs

So, you’ve set your eyes on your dream home and now you need a mortgage! This is when the DIP (Decision In Principle) comes into play.

Depending on which lender you are working with, Decision In Principle may also be referred to as AIP (Agreement In Principle), ‘lending certificate’ or ‘mortgage promise’. Securing a DIP is not compulsory but is beneficial as it functions in the following ways:

  • Provides you with an indication of how much you can borrow
  • Enables you to make accurate offers on properties
  • Positions your offers as more credible
  • Enables you to secure a deal even if time is of the essence
  • Gives you an advantage over buyers who don’t have a DIP

Approaching a mortgage broker to help you secure a DIP is a very wise move. Your broker can explain the process of getting a DIP in greater detail in relation to your specific circumstances. If you act alone in attempting to secure a DIP and are declined, you risk a negative impact on your credit score which could be detrimental to your mortgage application.

Working with a mortgage broker is guaranteed to save you money in the long term, and can free up your time and energy to focus on the all-important move. Here at B-Advised, we can help you to secure the very best deal on your mortgage. Simply get in touch today.