Is it cheaper to get a mortgage from a bank or broker?
A mortgage broker can offer a wider array of options and streamline the mortgage process, but working directly with a bank gives you more control and costs less. Many or all of the products featured here are from our partners who compensate us.
Is it better to get a mortgage from a bank or broker UK?
Applying for a mortgage through a mortgage broker is a better alternative to going straight to a bank building society or credit union. The advisors we work with can recommend products from across the market, offer you bespoke advice and help you with your application.
How much do most mortgage brokers charge?
On average, mortgage brokers charge a commission of 2.25% for each loan, but per federal regulations, they cannot charge more than 3% of the loan amount.
Do mortgage brokers charge a fee UK?
Most mortgage lenders will pay mortgage brokers a commission, or procuration fee, of about 0.35 per cent of the loan size. This means that, for a £100,000 mortgage, a typical commission would be £350. You don't pay any of this, and it doesn't affect your costs in any way.