Can you get a better mortgage with a broker?
A Broker May Not Source the Best Deal for You Many home buyers simply assume that a broker can deliver a better deal than they could get on their own, but this is not always the case. Some lenders may offer home buyers the very same terms and rates that they offer mortgage brokers (sometimes, even better).
Which is better mortgage from bank or mortgage broker?
While banks expect the client will negotiate with them, or accept the given rate, mortgage brokers are more likely to go to bat for you, to get a lower interest rate.
Are mortgage broker fees worth it?
Mortgage broker fees are worth paying more often than not. This is because you're likely to recoup any fees you've paid with the savings you'll make on your mortgage. Furthermore, mortgage brokers often do a lot more than recommend you a mortgage.
Is it normal to pay a mortgage broker?
Whether you opt for a tied or 'whole of market' broker, you will usually have to pay for their services. Most tied brokers will be paid through commission, this will be a percentage of the mortgage loan you receive. This is usually around 1%.