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Look at the mortgage rates

When you're looking for a mortgage the first thing you should be thinking about is the interest rates you'll have to pay for it. The actual cash you borrow to buy a property is only a small chunk of the overall money you're going to have to shell out during the life of your loan - so you should make sure that this is kept to a minimum by shopping around for the best rates.

This applies to you if you're a first time mortgage buyer or if you're already on the property ladder. It applies if you're looking to get a new mortgage or remortgage to move to a new home or to buy a second property. The rates really are the key to saving money.

To do this you need to shop around to find lenders that offer the best rates and overall deals. If you have lots of time to spare you can do this yourself. But if you want to move fast on your mortgage then you can also talk to a mortgage broker to speed up the process.

What does a mortgage broker do?

A mortgage broker basically acts as a conduit between you and lenders. So, you can use them for general advice if you need information on the type of mortgage to buy, for example. Or you can use them to compare rates. Or you can use them to do the whole thing for you right down to the actual arrangement process.

A good mortgage broker won't just give you a list of rates and deals - they'll work with you to get the best options for your own individual needs. A broker should be fully up to date with what's going on in the industry as a whole and should have his or her finger on the pulse so they can tell you what's on offer and what's good to buy at any given time. Then, they should be able to arrange your mortgage for you quickly and efficiently.

In most cases it won't cost you an extra penny to use a mortgage broker as the sector is generally financed by lenders rather than consumers. If you do come across a broker that wants to charge you make sure that you understand what they are charging for. For example some adverse credit mortgage lenders may need to charge you for the extra leg-work that is required. If it's not absolutely vital then find one that doesn't charge. There's no point spending even more money in broker fees if you don't have to!!

What to look for in a mortgage broker

The best broker for your needs will be sector-savvy and clued up on what's what in the market as a whole. If in doubt choose a broker with plenty of experience across all mortgage types - this will benefit you in the long run.

What you really should be looking for from a broker is range of contacts. There's absolutely no point working with a broker that only deals with a few companies - to be honest, you could do that kind of research yourself. What you should be looking for is a broker that works as far across the UK mortgage sector as possible.

We, for example, don't concentrate on working with just a few lenders. We work right across the entire UK lending sector. This makes sure that we can offer you the very best rates, discounts and deals as they happen - we really do have our finger on the pulse.

Our breadth of knowledge isn't the only way we can save your hard-earned cash however. We are valued partners for our lenders and they give us discounts and special deals to pass on to our clients (this means you!). So, you'll save even more money by dealing with our broker services!

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