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Is it better to get a mortgage from a bank or broker in the UK?

by | Feb 21, 2023 | mortgage advice belfast | 0 comments

Deciding whether to get a mortgage from a bank or broker in the UK can be a difficult decision. Both have their advantages and disadvantages, so it is important to weigh these up carefully before making a final decision. 

Banks can offer competitive interest rates and are regulated by the government, while brokers have access to a wider range of lenders and can offer better deals. 

It’s also worth considering other factors such as customer service, fees and turnaround times. 

Ultimately, the best option for you depends on your individual circumstances, so it’s important to do your research and compare different lenders before making a final decision.


What is the difference between a bank and a mortgage broker?

The banking and mortgage industry can be complex and confusing. Many people are unsure of the differences between a bank and a mortgage broker. 

Understanding the differences between the two is important for anyone who is considering applying for a mortgage.

A mortgage broker is in charge of bringing the lender and the borrower together, and they do this by working with the borrowers to ensure that they are able to secure the best possible deal. 

The broker also helps the borrower to get pre-approved for a mortgage before they begin looking for a home to purchase. 

Having a mortgage broker can help to ensure that the borrower is able to secure the best possible deal and will be able to purchase their home with ease.

At The Mortgage Clinic, we are familiar with all of the main lenders’ lending standards, and we look out for faults and concerns on your behalf to maximise your chances of a successful mortgage application.


A mortgage broker offers a personalised service to each borrower

A mortgage broker is a financial advisor who helps you find the right mortgage for your needs. They will look at your financial situation and explain the different types of mortgages available to you. 

They will also offer impartial advice about mortgages, so you can be sure you are getting the best deal for you. 

They will take the time to understand all your needs, wants and expectations and, importantly, will shop around for you to get the best deal.


Broker will help you find the cheapest mortgage

What is the difference between a bank and a mortgage broker? Well, for one thing, a mortgage broker can help you find the cheapest mortgage, something that banks can’t do, and they’re also better at helping you understand your options, which can be a huge help when you’re trying to get the best mortgage for your situation. 

So, if you’re looking for a better deal on a mortgage, or if you just want to learn more about your options, talk to a mortgage broker in your area. 

We here at The Mortgage Clinic have multiple branches across Northern Ireland. Find out your closest branch here

They can help you get the best deal for your situation, and can also help you avoid some of the common mistakes that people make when getting a mortgage.


Mortgage Brokers are cheaper than a bank

The main difference between a bank and a mortgage broker is the price. A mortgage broker can often be cheaper than a bank, as they don’t have the same overheads, and aren’t as strict when it comes to lending. 

A mortgage broker will also have a much better understanding of your needs, and will be able to find the right mortgage for you. 

If you’re looking to get a mortgage, rather than going through a bank, you should definitely consider getting a mortgage broker on board.


Where should you get your mortgage from?

Deciding where to get your mortgage from can be a daunting task. With so many lenders, banks, and other financial institutions to choose from, it can be difficult to know which one is right for you. But, with the right information and guidance, you can make an informed decision that will help you save money and feel secure in your investment. 

Here are some tips to consider when choosing a mortgage lender:


Always get a mortgage from an experienced broker

If you are about to get a mortgage, you should always get a mortgage from an experienced broker.

Mortgage brokers have the knowledge and experience to find the right mortgage for you, so you can be sure that you will get the right mortgage with the right terms and conditions. 

If you are looking to buy a house, get a mortgage from an experienced broker and you will be sure to get the right mortgage for you.


Choose a broker that can give you the best deal

When it comes to finding the best mortgage broker, it’s important to choose one that can give you the best deal. If you want to get the best deal, you should make sure you work with a mortgage broker that has a great reputation, and a lot of experience in the industry. 

It’s important to choose a broker that is registered, so they are legally able to help you with your mortgage application.

It’s also important to find a mortgage broker that is open and honest about who they work with. If you want to find a reliable broker that can give you the best deal, make sure you choose one that can offer you the best service.


Check the credentials and experience

A mortgage broker is a person who can help you find a lender who can offer you the best mortgage loan. 

There are lots of mortgage brokers who are offering their services to the customers, but it is important to choose the right one for you. 

You need to be sure about the credibility and experience of the brokers you’re considering so you can be sure that you’re going to get the best services. 

It is important to find a mortgage broker who has the necessary experience, knowledge, and skills to help you find the best mortgage loans.


How to find a reliable mortgage broker?

Finding a reliable mortgage broker is an important step when applying for a mortgage. A mortgage broker is a professional who can help you find the right loan and negotiate with lenders on your behalf. 

With so many brokers out there, it’s important to choose one you can trust. Here are some tips for finding a reliable mortgage broker:


Ask friends and family for recommendations

You can ask your friends and family if they know of a good one. If you find that a mortgage broker is highly recommended by your friends and family, you can be sure that they are a reliable mortgage broker.


Check for reviews, licences and certifications

You should always check a mortgage broker’s website for reviews, licences, and certifications. This will give you a good idea of how trustworthy and reliable your broker is, and whether or not they’re actually capable of getting you the best loan for your individual needs.

We have many client testimonials on our website, and Google ranks us as the number one reviewed (five star) Mortgage Advice company in Belfast and beyond.

The Mortgage Clinic is a trading style of The Mortgage & Finance Clinic Ltd who are authorised and regulated by the Financial Conduct Authority, company registration number 784955. Contact us today for expert and trusted advice.


Deciding whether to use a bank or mortgage broker is a personal decision. 

At the Mortgage clinic you can be confident that we are true specialists in the mortgage market because of our strong ties to the local property market and estate agencies.

We assist clients at all skill levels, from novice purchasers to seasoned investors, and we would be happy to assist and advise you no matter what your needs are.

Get in contact with our team today where they offer the best mortgage advice Lurgan to begin your mortgage application. 

Helmut Elstner

Helmut Elstner

Managing Director – Independent Mortgage Broker and Insurance Advisor

Helmut started working in financial services in early 2012 and founded The Mortgage Clinic in Belfast in early 2015. He specialises in all types of mortgages from First Time Buyer, Co-ownership, Self Build, Home Movers, Remortgages, Debt consolidation, to Buy to Let.

Three Best Rated Winner 2021
Winner Mortgage Broker of the year 2020
Top Rated Advisor 2021 on Vouchedfor