Free guide · Updated July 2026 · 6 min read
Mortgage broker or go direct? How to decide
The short answer
Most UK buyers do better with a whole-of-market mortgage broker: they compare deals you can't see, handle the paperwork, and cost £0 to £500 (many are fee-free, paid by the lender). Going direct makes sense mainly if you're a simple case remortgaging with your current lender or chasing a direct-only deal.
What a mortgage broker actually does
A broker searches the mortgage market on your behalf, recommends a deal, packages your application so the lender's underwriters see a clean story, and chases it through to offer. The good ones also know which lenders tolerate your specific quirks: self-employment, a small deposit, a new job, a non-standard property.
Brokers are paid a commission by the lender (typically around 0.35 to 0.4 percent of the loan) whether or not they also charge you a fee. Fee-free brokers live on that commission alone; others charge £300 to £500 on top.
When going direct is genuinely fine
Direct works well when the decision is simple and you're confident reading the market yourself.
- ✓A product transfer with your existing lender at the end of a fix: often no affordability re-check, minimal paperwork, and brokers add less here
- ✓You've found a direct-only deal: some lenders (historically First Direct, for example) don't work with brokers at all
- ✓Straightforward employment, big deposit, clean credit, and you enjoy comparing deals on the price comparison sites yourself
When a broker earns their keep several times over
The harder your case, the more a broker matters, because lenders' appetites for complexity differ wildly and only brokers see the pattern across all of them.
- ✓Self-employed, contractor, or less than two years in your job: lenders' evidence requirements vary enormously
- ✓Small deposit, gifted deposit, or any credit blemishes
- ✓Buying a non-standard property: new build, high-rise flat, ex-council, non-standard construction
- ✓A chain under time pressure: a broker who chases the lender weekly is worth their fee in saved days
- ✓First-time buyers generally: you don't know what you don't know, and a broker's mistakes cost them, not you
Broker vs direct at a glance
| Whole-of-market broker | Going direct | |
|---|---|---|
| Choice of deals | Most of the market, including broker-only deals | One lender at a time, plus direct-only deals |
| Cost to you | £0 to £500 (many are fee-free) | £0 |
| Paperwork | They package and chase it | You manage it |
| Complex cases | Knows which lender says yes | Trial and error, each rejection on your file |
| Speed under pressure | They chase; escalation routes exist | You're in the general queue |
| Protection | Their advice is regulated; complaints route exists | Execution-only choices are on you |
Questions to ask any broker before committing
- ✓Are you whole-of-market, or tied to a panel of lenders? (Whole-of-market is the answer you want)
- ✓What do you charge, and when is it payable? (Walk away from big fees payable before an offer)
- ✓Do you receive commission, and how much? (They must tell you)
- ✓How do you handle a down-valuation or a declined application?
- ✓How quickly do you respond during exchange week? (Test them: email at 6pm and see)
Quick answers
Do mortgage brokers charge a fee?
Many charge nothing: they're paid commission by the lender, typically around 0.35 to 0.4 percent of the loan. Others charge £300 to £500 on top. Both models are legitimate; what matters is that the fee is disclosed upfront and only payable when they produce a mortgage offer.
Is it cheaper to go direct to the bank?
Rarely. Lenders price direct and broker channels similarly, and some of the sharpest deals are broker-only. The real saving from a broker is usually avoiding the wrong product or a declined application, both of which cost far more than any broker fee.
Can a broker speed up my mortgage?
Meaningfully, yes. A good broker packages your application to answer the underwriter's questions before they're asked, and chases the lender through known escalation routes. In a chain where your mortgage offer is the bottleneck, that's often worth weeks.
Put this guide to work
General information for England & Wales, not financial or legal advice. Costs are typical 2026 ranges and vary by region and circumstances.