Skip to content
Home > Advantages Of Using A Mortgage Broker In Cardiff

Advantages Of Using A Mortgage Broker In Cardiff

A broker serves as an intermediary that connects those who want to purchase an investment product like a mortgage, to an appropriate service.

Mortgage brokers are specialists in their field, and they know the mortgage market than the typical homeowner, which is why their guidance can prove advantageous.

There are a variety of reasons why people decide to employ brokers regardless of whether they’re first time buyers who are looking to take their first steps into the world of property or landlords who have a portfolio of properties which they want to grow.

Here are some major advantages of employing a professional broker:

To gain access to the entire market

Mortgage applicants are only granted access to standard mortgage lenders, however most brokers are able to access the entire market.

This means that potential applicants are able to take advantage of special deals and mortgage lenders that they might typically not have the ability to find or are unable to locate.

A good, reliable broker have worked for years with a range of lenders and possess an extensive knowledge of various mortgage options that are offered.

This allows applicants to obtain the most suitable deal that suits their needs and the broker can efficiently locate the best deal for the applicant.

The difference between a mortgage offer that appears like it’s a bargain and one that a broker might offer you with a higher interest rate can make a huge difference of money over a long period It is therefore important to ensure that each offer that is available is analyzed to determine which one is more beneficial.

Access to specialists in lending

For those who are in special situations, such as poor credit or who are self-employed these are likely find the right lenders by using brokers.

If a person has issues with their credit report it could affect their chances of having an application for a mortgage accepted because lenders will consider the applicant to be more risky.

In these circumstances, certain lenders will still be able to offer an opportunity to borrow to the applicant but will offer an interest rate that is much higher.

The borrower will have to pay many more pounds for the duration of the mortgage than had they been able to get a better rate of interest with the assistance of an agent.

In 2014, there was an Mortgage Market Review which led to lenders being asked to perform more thorough affordability checkups.

Since then it has become more difficult to obtain evidence to show income, for instance the need to prove income, and it is becoming difficult for certain people to obtain mortgages with greater amounts.

The same was true for those who were self-employed and not able to produce six-month’s pay slips or other evidence to prove their earnings.

If the applicants who have special conditions were to apply for mortgages through the usual lender, it is highly likely that their application would be rejected.

A mortgage application that is rejected will also affect the applicant’s credit score, so it is best to avoid it whenever it is.

A broker who knows the client’s financial circumstances can identify the most suitable lender in the market to offer the client the mortgage they need.

Expert Advice

The mortgage market is changing rapidly and it is essential to be an experienced expert in the mortgage industry to be aware of what the best deals are currently and who’s providing them.

The primary function of the broker is to utilize all the relevant details about the applicant and come up with the perfect deal specific to the applicant’s needs.

Therefore, data like credit background, income, outgoings and outstanding debts, as well as the amount of deposit and type are all taken into consideration when determining which is the most suitable lender to offer them the best price.

With their extensive knowledge in the business, brokers can assist those seeking loans to locate the right lender to meet their requirements.

In the case, for instance, someone is in need of a house purchase to be completed quickly the broker will be able to provide advice on which lenders typically offer quick service.

They will also be able to make sure that the applicant is prepared with everything to hand that the lender might require prior to the lender asking for it, which will make the process easier.

Brokers need to have the appropriate qualifications, such as for example, the CeMAP (Certificate for Mortgage Advice as well as Practice) which signifies that they have undergone the appropriate training that will allow them to give people mortgage advice.

They are also controlled in the FCA and are required to be included on the FCA register that is simple to verify.

If a person receives erroneous mortgage advice, they’re protected and are able to file a claim for compensation. So this is another reason why individuals prefer working with an expert mortgage broker Cardiff for the added security.

Exclusive Deals

Certain mortgages are only accessible to brokers, since the lender operates only through an agent.

They are often a part of the special deals applicants who meet certain criteria can be considered for when other lenders will not consider them.

Brokers also have access to special deals that could help borrowers save a significant amount of dollars throughout the term of their mortgage.

Many lenders will only provide exclusive rates to brokers but not directly to borrowers.


A broker can take much of the stress out of the process of applying to get a loan.

Looking through the various kinds of mortgages and lenders can consume many hours, and then there’s the financial terminology and calculations many people struggle to comprehend.

A broker is capable of explaining all the information to prospective clients and there’s no need for the applicant to comprehend everything in detail, as the mortgage broker can advise the best option according to their knowledge.

An agent knows the process from top to bottom So applicants do not have to think about what they have to do or learn about how the procedure looks like.

A broker will guide their clients through the entire process of completing a mortgage application process, and will answer any questions that arise while acting within the client’s best interest.

Thus, the applicants won’t have to be concerned about when they should engage a solicitor, or what documents they need since the broker generally does all of the task for them.


The use of a broker offers mortgage applicants with many advantages, from saving cash throughout the duration of their mortgage, to expediting the process the process and taking the hassle and effort out of the process of applying.

The experience of a broker can assist in determining the best loan for each customer and also find the best rates available in the marketplace.