How to choose a mortgage broker
Mortgage Explained does not choose or appoint a mortgage broker for you, and we do not currently pass enquiries on to brokers. If you want advice on your own case, choose a broker yourself: check the firm on the FCA Register, ask whether they are whole-of-market or on a panel, and ask how they are paid before you commit.
Check they are regulated
A mortgage broker should be authorised and regulated by the Financial Conduct Authority, or be an appointed representative of an authorised firm. You can check any firm yourself on the FCA Register in a couple of minutes. Our guide to how to find a mortgage broker walks through the exact steps.
Ask the right questions
Ask whether the broker is whole-of-market, on a panel or tied to one lender, whether they handle cases like yours (self-employed, contractor, limited company, buy-to-let, adverse credit), and what they charge. Our guide to how to find a mortgage broker explains what to ask.
How brokers are paid
A broker may charge you a fee, be paid commission by the lender, or both, and must tell you which before you commit. See how mortgage brokers get paid. For how Mortgage Explained itself is funded, see how we are funded.
Common questions
Do you choose a broker for me?
No. Mortgage Explained is an information website. We do not choose, appoint or recommend a broker for you, and we do not currently pass enquiries to brokers.
How do I check a broker is FCA-authorised?
Search the firm name or FCA reference number on the FCA Register and confirm it is authorised for mortgage mediation, or an appointed representative of an authorised firm. Our guide to how to find a mortgage broker walks through the steps.
What does a broker cost?
A broker may charge a fee for their advice, be paid commission (a procuration fee) by the lender, or both. They must tell you how they are paid before you commit to anything.
Do I have to use a broker?
No. You can go direct to a lender. A broker is most useful where your case is not standard, because they know which lenders accept which circumstances.
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.
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