This article is from www.telegraph.co.uk/financial-services/ April 2016
With hundreds of different mortgages to choose from, hunting out the best deal to suit your needs can feel a bit like trying to find a needle in a haystack.
Access to more mortgages
If you aren't sure which type of home loan is likely to be right for you, it's a good idea to talk through all the available options with an independent mortgage broker. They will be able to research the whole market on your behalf, rather than you having to trawl around numerous different lenders.
A spokesman for financial website Moneyfacts.co.uk said: “An independent mortgage broker will look for the best mortgage for you. They aren't on the lender's side, they're on yours, and they'll give you access to far more products than if you went direct. You'll get unbiased advice and could choose from a range of lenders and subsequent products, rather than being restricted to the single range of the lender you go to. They also know the background criteria that a lender has and can bring this experience to bear when advising you and processing your application.
Greater buying power to secure the best mortgage deals
“Then there's the fact that, because a mortgage broker may put a lot of business to a particular lender in a year, they can exert influence and chase things in a way you just can't do by yourself – and that can be invaluable should things get held up.”
When you speak to a broker, they will start by asking you about your individual circumstances, including your income, how much you want to borrow and over what term, and how much of a deposit you have to put down.
They will then to talk you through the various deals you are eligible for, and can explain how the different types of mortgage work.
Once you’ve narrowed your choice of mortgage down, your broker will let you know the monthly costs, as well as any arrangement fees you will have to pay. They will then be able to help you with the application process, and answer any questions you might have, such as how long it will typically take for your mortgage to be processed.