< All Topics

Are Mortgage Brokers Better Than Banks?

If you’re in the market for a mortgage one of the big questions you may have is whether mortgage brokers are better than banks?

By knowing the pros and cons of using mortgage brokers and banks you will be able to choose an option that’s right for you. At Derngate Wealth Management we want you to feel confident with your financial choices which is why we always offer impartial information across our website and in our consultations.

Mortgage Brokers Vs Banks – Which should I choose?

Mortgage Brokers

Mortgage brokers are also sometimes referred to as mortgage advisors, which is a very apt way to describe what we do. Mortgage brokers don’t just find mortgage products and guide people through the process of getting one, they also offer expert advice and help people find the right mortgage for their circumstances.

  • At Derngate Wealth Management we have access to the whole mortgage market meaning we can offer advice on an exceptional range of products. We have more options than what you’d be able to find by visiting a handful of lenders, and we pride ourselves on having access to exclusive deals through our network Quilter Financial Planning Ltd. You will want to check what your mortgage advisor can offer as some are attached to a specific lender or list of lenders, meaning you won’t have access to the whole market.
  • Getting financial advice before going through with a mortgage means you are protected by the Financial Ombudsman, should anything go wrong.
  • Many mortgage brokers, like us, can complete the paperwork for you, so your application can be dealt with more quickly.


  • Banks and building societies usually offer free advice. An obvious disadvantage of using a mortgage broker, rather than going directly through a bank, is that you may have to pay a referral or financial advice fee. However, this is not always the case and you will always be informed upfront if there are any costs involved.
  • Going directly through a bank or building society may give you access to deals that mortgage brokers don’t have access to.

Comparison Websites

You can of course look at mortgage comparison websites if you’re confident with what types of mortgages are around and how they work. However, we would normally recommend seeking professional advice before going through with your choice. Choosing a mortgage is a huge financial decision and it’s important to make the right choice.

So there you have a brief outline of using mortgage brokers and banks to find a mortgage. It’s up to you to decide which option is best for you. You may even want to consult a mix of comparison websites, mortgage advisers and banks to ensure that you really are getting the best deal available.

However, before signing your name on the dotted line, it still may be worth consulting an adviser to check that the mortgage you’re thinking of having is right for you and that you have fully understood all the terms and conditions.

Contact our expert team of Northampton mortgage advisors today to book a free initial consultation.

Next Can A Mortgage Broker Get Me A Bigger Mortgage?
Table of Contents