Is It Better to Use a Mortgage Broker or Go Directly to the Bank?

Quick Answer:

Yes — in most cases, it’s better to use a mortgage broker than to go directly to a bank. A broker can compare deals from multiple lenders, offer tailored advice, and often save you both time and money.

🤔 Why? Let’s Break It Down:

🧑‍💼 What’s the Difference?

• Mortgage Broker: A mortgage broker works for you — not a specific bank — and searches a wide panel of lenders to find a mortgage that suits your personal circumstances.

• Bank: A bank only offers its own mortgage products, meaning you're limited to just one lender’s deals.

  
  

📊 Mortgage Broker vs Bank: The Comparison

Feature	Mortgage Broker	Bank
Access to multiple lenders	✅ Whole-of-market or large panel	❌ Only their own products
Personalised advice	✅ Tailored to your situation	⚠️ More limited
Time-saving	✅ One application, multiple options	❌ Must approach each bank individually
Paperwork support	✅ Full support with documents & forms	⚠️ Varies by bank
Specialist cases (bad credit, self-employed)	✅ Usually experienced in complex cases	❌ Limited flexibility
Cost	✅ Often free or transparent fees	✅ Usually free

💷 Can a Broker Get You a Better Deal?

Yes — many brokers have access to exclusive rates not available to the public. They also compare deals across the market, which increases your chances of saving money over the life of your mortgage.

⏳ Is It Quicker?

You might assume going straight to a bank is faster — but in reality, brokers often speed things up:

• They help you avoid common application mistakes

• They prepare your paperwork correctly

• They follow up with the lender on your behalf

🛠️ When Should You Use a Broker?

A broker is especially helpful if:

• You’re a first-time buyer

• You’re self-employed

• You have a low deposit or bad credit

• You want to compare as many lenders as possible

🏡 Why Drummonds Finance Group is the Best Choice

At Drummonds Finance Group, we make mortgage advice simple, personal, and stress-free.

✅ Based in Oxford, helping clients across the entire UK

✅ Available online, by phone or video call

✅ Access to a wide panel of lenders — including exclusive deals

✅ Transparent fees

👉 Click here to find out more about Drummonds Finance Group

Final Thought

Going directly to a bank limits your options. A mortgage broker opens the door to better deals, expert advice, and a smoother process. For most buyers, especially in today’s market, using a broker just makes sense.

Your home may be repossessed if you do not keep up repayments on your mortgage.