Mortgage Advice – Financial Broker or Bank?

A mortgage is one of the biggest financial decisions you will ever make.

To make the most informed decision, I have outlined some of the main advantages of applying for a mortgage through a broker versus going directly to a bank.

1. Choice

The biggest advantage of a Financial Broker over a bank is choice.

When you deal with a Financial Broker you have access to a choice of mortgage lenders versus visiting the bank who only has access to one bank’s products. This is important when looking for advice on mortgages or any financial product and gives you much more options on product choice, provider choice and cost.

2. Experience/Relationship 

Ask your banker how long they’ve been helping people with their financial advice? Financial Brokers own their own businesses and are committed to their clients in the long term, providing many years of industry experience. Banks are large institutions who move their staff around so you cannot be guaranteed of having the ongoing advisor relationship that a Financial Broker can provide.

3. Specialisation

If you’re looking for specialised assistance with your mortgage, it pays to talk to a specialised broker. For example, if you’re looking at buying to let, look for a broker who specialises in Buy to Let lending. When dealing with Bank staff, you cannot be guaranteed that they have specific experience in areas such as Buy to Let, Mortgage Protection etc. Are you simply serviced by whoever happens to be in the branch?

4. Convenience

Financial Brokers are not tied to branch opening hours and can see you whenever and wherever is convenient for you.

5. Options to Pay

Many Brokers offer a choice of payment for their services, either way their remuneration is disclosed to you prior to any work been undertaken by the Financial Broker.

For any mortgage enquiries or to arrange a consultation, please contact me at 01 5571596 or

Posted on February 17, 2018 By Rory Brazil