• Go directly to the lender, or
• Use a mortgage broker
  

But why use a mortgage broker, a so called middleman. Isn't it always cheaper to cut out the third party in any deal? Not necessarily so with a mortgage broker because amongst other things we can tailor-make a package for you rather than selling if you contact the lender directly.

• The mortgage market is complex and a broker is normally far better placed to advise on the different schemes and policies available to strategise your needs. There is no need to have multiple bankers all pushing their products to you and you save time trying to sort out which is really best for you.
• A mortgage broker will also have details on the latest special offers available, sourced from around the market.
• If you have a bad or problem credit rating, problems proving your salary or need to borrow more than the property is worth then seeing what a mortgage broker can do is normally the best option to take.
• Some mortgage brokers develop a product that they feel their clients will buy and then approach the lending companies to finance it. You therefore will often find that mortgage brokers offer policies that the lenders don't offer directly to the public.
• Mortgage brokers get paid by the lenders in most instances and hence there is no extra cost to you.

Summary

For most people using a mortgage brokers is a win-win situation. Firstly, you've got an expert looking after your interests and secondly better deals are normally offered. And remember a mortgage for most people is the single most important financial decision of their life.