Mortgage broker vs going direct
A mortgage broker searches many lenders and gives you regulated advice with recourse if it is unsuitable; going direct to a lender is quick but limits you to that one lender's deals and criteria. For a simple case with a large deposit, direct can be fine. For complex income, a small deposit, adverse credit, or to search the whole market, a broker usually wins. The right choice depends on how standard your case is.
Side by side
| Factor | Mortgage broker | Going direct |
|---|---|---|
| Choice of lenders | Many (whole of market or a panel) | One lender only |
| Advice and recourse | Regulated personal recommendation | Often execution-only, you decide |
| Complex cases | Matched to a lender that fits | Declined if you do not fit that lender |
| Cost | Possible fee, or fee-free and lender-paid | No broker fee |
| Speed for a simple case | Fast | Fast, sometimes faster |
| Best for | Complex income, small deposit, whole-market search | Simple case, big deposit, existing lender |
Indicative comparison. The right route depends on your circumstances and the lender.
The deciding question
Ask how standard your case is. A salaried employee with a 25% deposit and a clean file fits almost every lender, so going direct to a competitive lender is reasonable. The moment something is non-standard, self-employed income, a recent default, a 5% deposit, a new job, the gap between the strictest and most generous lender becomes large, and a broker who knows which lender to approach is worth far more than any fee.
Common questions
Is a broker better than going direct?
It depends on your case. For a straightforward application with a big deposit, going direct to your bank can be quick and fine. For anything complex, self-employed income, a small deposit, a credit blip, or simply wanting the whole market searched, a broker usually adds real value by matching you to the right lender.
Does a bank only offer its own deals?
Yes. Apply directly to a lender and you only see that one lender's products and criteria. A whole-of-market broker can compare across many lenders, which matters because the same applicant can be accepted by one lender and declined by another.
Is going direct cheaper?
Not necessarily. A broker may charge a fee, but they can find a cheaper rate or a lender that will actually lend, which can outweigh the fee. Some brokers are fee-free and paid by the lender. Going direct avoids a broker fee but limits you to one lender's pricing.
What protection do I get with a broker?
A regulated broker gives you a personal recommendation under FCA rules and is responsible for the suitability of that advice, which gives you recourse if it was unsuitable. Go direct on an execution-only basis and you make the choice yourself, with less of that protection.
Still unsure? See do I need a mortgage broker and how brokers get paid.
Founder, MortgageExplained
Adam spent over eight years as a mortgage adviser at Just Mortgages, with further experience in commercial finance. He is CeMAP and CF qualified. He built MortgageExplained to do one thing well: explain mortgages in plain English, so you know where you stand before you speak to a regulated broker. Every page on the site is written by Adam.
Last reviewed by Adam Parker