Do I Need to Use a Mortgage Broker or Can I Go Directly to a Lender?

What Does a Mortgage Broker Do?

A mortgage broker is a qualified adviser who searches the market on your behalf to find suitable mortgage products. They assess your financial circumstances, recommend options that suit your needs, and often handle much of the application process for you.

Going Direct to a Lender

When you go directly to a lender, such as a bank or building society, you'll deal with their in-house mortgage advisers. These advisers can only offer products from their range, not those from the wider market.

Pros of Going Direct:

• Some lenders offer exclusive deals for direct customers
• You may already bank with the lender, making the process feel simpler
• No broker fee (in most cases)

Cons of Going Direct:

• You only see a limited selection of mortgage deals
• You may miss out on better rates or features elsewhere
• You're responsible for comparing and managing the process yourself

Using a Mortgage Broker

At Farrell Heyworth, we work in partnership with the Mortgage Advice Bureau. Our in-house advisers can access over 12,000 mortgage products from 90+ lenders – providing a broad range of options without the confusion of trying to compare deals yourself. We strongly recommend speaking to one of our expert advisers before making a decision.

Pros of Using a Broker:

• Access to a wide range of mortgage deals, including broker-only rates
• Expert advice and support through complex or unusual situations (e.g. self-employed, bad credit, gifted deposits)
• Time-saving – advisers complete applications, chase underwriters, and help with paperwork
• Often useful in a volatile interest rate environment like 2025, where products are changing frequently

Cons of Using a Broker:

• You may be charged a broker fee (typically £300–£700, though some are free)
• Some brokers may be tied to a limited panel – it’s important to ask how many lenders they work with
• Advice quality can vary – choose a broker who is FCA-regulated

Which Option Is Better in 2025?

In today's market, interest rates are stabilising but still higher than historic averages. With frequent product changes and some lenders tightening criteria, many buyers and remortgagers are turning to brokers for access, speed, and certainty.

However, if you have a straightforward situation and want to keep things simple, such as borrowing from your current bank or building society, a direct application could still be cost-effective and efficient.

Who Should Consider a Broker?

• First-time buyers navigating the process for the first time
• Self-employed applicants or those with variable income
• People with credit issues or unconventional deposits
• Anyone wanting to save time or compare a wider range of deals

Tips for Choosing the Right Broker

• Ask how many lenders they have access to
• Ask about their fees up front
• Ensure they are FCA-regulated and provide formal advice (not just information)
• Look at online reviews or get recommendations

You don't need a mortgage broker – but in many cases, it can be a smart move. If your financial situation is complex or you want access to the best available deals, speaking to one of our advisers can offer valuable guidance and save you time. If your needs are simple and you've already found a competitive deal through your bank, going directly can work just as well. The key is to weigh the pros and cons for your specific circumstances and always compare options before committing.

Ready to speak to one of our mortgage advisers? Visit our Mortgage Services page to get started.