A mortgage broker sits between borrowers and lenders: establishing what you can afford, sourcing the right product from across the market, and managing the application through to completion. This is what that work involves in practice — and where it makes the difference.
The role, in practice
The starting point is always a conversation. I want to understand what you are looking to do and why — buy, refinance, restructure — because many people have a plan in mind without being certain it is the right one, or how to take it forward. Once the plan is clear, I can tell you what you can borrow.
That figure varies from one lender to another, sometimes quite widely. From there I set out the monthly cost of the mortgage and the overall cost. Rather than focusing on the headline interest rate alone, I weigh the fees and every other cost to make sure the recommendation is the right solution in the round.
Before anything goes to a lender, I collect and check every document the application needs. Going direct means nobody is checking the file to keep things running smoothly. I then handle the whole application: the paperwork, and any questions the lender raises along the way.
The work does not stop at offer. I keep watching the market, and if rates move in your favour after your offer is issued, I can move you onto the better deal before completion.
Broker or bank
Your high street bank can only advise on its own products. A broker advises across the whole panel — at Propertyze that is more than 135 lenders — so when one bank says no because you fall outside its criteria, we know which lender to approach next. A broker can get you a yes where a bank would give you a no.
That breadth matters most for borrowers who assume they cannot get a mortgage at all. A CCJ or a missed payment will see some lenders decline outright; others take a different view. Knowing how criteria differ across the market is precisely the job.
There is also the question of who stands beside you through the transaction. Buying or refinancing a property is among the largest financial commitments most people ever make. I liaise with solicitors, estate agents and everyone else in the chain — and I have picked up the phone at an ungodly hour to a stressed client, fixed the problem and put their mind at rest. A high street bank would not do that.
Beyond the application
When you are purchasing there are estate agents to deal with; on any mortgage there are solicitors doing the legal work. I make sure everyone involved has the right information and no wires are crossed.
Some estate agents insist on an Agreement in Principle before they will put an offer forward. With some lenders that means a hard credit search, so where it suits the case I provide a financial qualification to the agent on your behalf instead — which can mean you do not need an Agreement in Principle at all.
Remortgaging works the same way. As you approach the end of your rate I review the whole market, not just your current lender, and compare everything to establish whether you are on the right deal or can do better elsewhere.
I also advise on mortgage protection. The debt should be protected for you and your family, and the cost belongs in your monthly budget from the outset; I work with the insurers to make sure the cover you hold actually meets your needs.
What it costs
There are no fees initially — I will not charge you if I cannot help you. That applies to first-time buyers, existing owners and the many landlords I advise. The initial consultation establishes where you are, whether I can help and what we could do.
If we proceed, there are fees later in the process. They vary depending on the work involved, and everything is made clear before anybody decides to go ahead.
When should I first speak to a mortgage broker?
As early as possible. I speak to clients at every stage of the process — including people still saving for a deposit, where I can map out what that deposit needs to be and what the budget looks like once they are ready to buy. Advice from friends, online sources or somebody down the pub can be overwhelming; a structured conversation cuts through it. I also see clients much later in the process, sometimes for a second opinion on advice they have already received.
Can a broker improve my rate after a mortgage offer?
Often, yes. If the market moves in your favour between offer and completion, I can rebook the mortgage onto the better rate. It is one of the quieter advantages of having someone watching the market on your behalf throughout.
Do I need an Agreement in Principle to make an offer?
Not always. Where the estate agent will accept it, a financial qualification given on your behalf can do the same job without the hard credit search that an Agreement in Principle involves with some lenders.
Can you help if I have credit issues?
Frequently. A CCJ or a missed payment means some lenders will simply decline you, but criteria differ widely across the market, and part of the role is knowing which lenders will take a more considered view of your circumstances. If you have questions — and there is no such thing as a silly question — just get in touch. No matter where you are in the process, there is usually something I can help with.
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