How to choose a mortgage broker
Most people spend longer choosing a sofa. Here’s how to pick the person arranging the biggest debt of your life, in one read.
Plain-English guide · no advice, just how the market works
First: the three things that actually matter
1. Whole-of-market or tied?
Some brokers can recommend from across the whole lender market. Others are tied to specific lenders or work from a restricted panel. Neither is illegal, but a tied broker can only show you their shelf, and their shelf might not include your best deal. Ask directly: “Are you whole-of-market?” On Broker Finder, each match card tells you this before you ever speak to them.
2. FCA authorisation, check, don’t assume
Every legitimate UK mortgage adviser appears on the Financial Services Register. Search their firm name or FCA reference number. It takes one minute and instantly filters out the cowboys. (We do this check on every broker before they join our panel, and you should feel free to repeat it.)
3. Fees, stated plainly, upfront
Broker fees range from nothing (lender-paid) to fixed fees to percentages. What matters most isn’t the model, it’s whether they state it clearly before you commit. Vagueness about money from someone arranging your money is disqualifying. Full breakdown in our fees guide.
The seven questions to ask
- “Are you whole-of-market, and are there lenders you can’t access?”
- “What will I pay you, and when?”, expect a plain answer in pounds.
- “Do you also receive commission from the lender?”, normal, but they should disclose it without flinching.
- “How much of your work is cases like mine?”, self-employed, small deposit, credit history: specialism beats generalism.
- “Will your recommendation be in writing?”, a suitability letter is standard from a regulated adviser.
- “Who handles my case day to day, and how quickly do you respond?”
- “What happens if my application is declined?”, good brokers have a plan B; salespeople have a shrug.
Red flags
- Pressure to sign today, “this rate disappears tonight”.
- Guarantees of approval, nobody can promise a lender’s decision.
- Large upfront fees before any work is done.
- No FCA number on their website, emails or paperwork.
- Irritation at being asked any of the seven questions above.
How Broker Finder changes the order of play
Traditionally you hand over your phone number first and vet brokers second, under sales pressure, with your details already circulating. We flip it: you describe your case anonymously, vetted FCA-regulated brokers put themselves forward, and you compare specialisms, coverage and response times side by side before anyone can contact you. The seven questions above? Ask them of the one broker you choose, and if the answers disappoint, choose nobody.
Compare brokers before any of them can call you.
Two minutes, no contact details, no obligation.
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