Use a mortgage broker or do it yourself – Which is best?

If you’re buying a home or remortgaging in the UK, one of the biggest questions you’ll face is whether to use a mortgage broker or go direct to lenders yourself.

Both options can work, but the best choice depends on your situation, confidence level, and financial goals.

In this guide, I’ll break down what each route involves, how they differ, and the pros and cons of each.

You’ll also get practical steps to help you decide which path is right for you, plus tips to save time, money, and stress along the way.

What’s the difference between using a mortgage broker and doing it yourself?

Let’s start with a simple breakdown:

• Mortgage broker: A qualified intermediary who helps you find and apply for a mortgage. Brokers often have access to deals you can’t get directly and can guide you through the process from start to finish.
• DIY approach: You research and apply for a mortgage yourself, either online, by phone, or through a bank or building society branch.

Both routes can land you a mortgage but the experience and outcomes may vary significantly.

How do mortgage brokers work?

Brokers are regulated professionals (authorised by the Financial Conduct Authority) who compare products from multiple lenders on your behalf.

Some are “whole of market” brokers, meaning they consider nearly all available lenders; others work with a specific panel.

They assess your circumstances, including income, credit history, deposit, and affordability, then match you with lenders likely to approve you.

Many brokers also handle paperwork, liaise with lenders, and help you stay on track through to completion.

Two types of brokers:

• Independent (whole-of-market): Offer products from across the market, including specialist lenders.
• Tied or multi-tied: Limited to a specific panel of lenders. They may still offer good deals but have a narrower range.

Some brokers charge a fee (typically £300–£600), while others earn commission from the lender and cost you nothing.

They should tell you how they operate before you apply for any type of mortgage.

DIY mortgages: What’s involved?

Doing it yourself means researching available mortgage deals using comparison websites, lender websites, or visiting banks.

You’ll then need to submit the application yourself.

You’re responsible for:

• Gathering and submitting documents (payslips, bank statements, ID)
• Understanding lender criteria
• Choosing between fixed, tracker, and variable mortgages
• Managing timelines and chasing updates

It can be a good option for confident borrowers with straightforward finances who want to avoid broker fees or prefer full control.

Pros and cons of using a mortgage broker

Mortgage brokers definitely have a place, but there are pros and cons to using them.

Pros:

• Saves time: Brokers compare rates, criteria, and lender behaviour, saving you hours of research.
• Access to exclusive deals: Some mortgages are only available through brokers, especially from specialist or intermediary-only lenders.
• Better chance of approval: A broker matches you with lenders who are more likely to say yes, helping you avoid rejection.
• Support for complex situations: If you’re self-employed, have poor credit, or want to borrow at a high loan-to-value (LTV), a broker can help find a suitable lender.
• Handles admin: Brokers often chase lenders, solicitors, and insurers on your behalf, making the process smoother.
• Regulated advice: If things go wrong, you’re protected under the Financial Ombudsman Service.

Cons:

• May charge fees: Some brokers charge a fixed fee or a percentage of the mortgage amount.
• Not always whole of market: Some brokers only use a limited panel, which can mean missing better deals elsewhere.
• Less control: If you prefer to handle things personally, using a broker can feel like giving up some control.

Pros and cons of going direct (DIY)

Securing your own mortgage also has pros and cons.

Pros:

• No broker fees: You could save money by not using a broker that charges a fee.
• Full control: You can compare lenders, ask questions directly, and understand every step of the process.
• Suits straightforward applications: If you’re employed full-time, have a good credit score, and want a high street mortgage, you may not need extra help.
• Whole of market: You can also check the whole of the market for retail products.

Cons:

• Time-consuming: Researching mortgage rates, lender criteria, and affordability rules can take a lot of time and there’s a steep learning curve.
• Risk of rejection: Applying to the wrong lender may lead to a rejection, which leaves a hard search on your credit file.
• You could miss better deals: Not all lenders are visible on comparison sites. Some exclusive or niche products are broker-only.
• No safety net: Without regulated advice, you won’t have the same protection if things go wrong.

Real-world example: Broker vs DIY

Let’s say you’re buying your first home in Manchester with a 10% deposit, earn £35,000 a year, and have a credit card with a couple of late payments from 2022.

With a broker:

1. The broker identifies that your credit blip rules out some high street lenders but finds a specialist lender offering a competitive fixed rate.
2. They help you prepare documents, chase updates, and deal with lender queries.
3. Cost: £400 broker fee
4. Result: Application approved with a fixed rate at 5.2%

DIY approach:

• You apply directly to a high street lender offering 4.9% on a comparison site.
• The lender rejects your application due to credit history.
• You reapply with a different bank with another hard search and delay.
• Eventually approved, but you accept a higher rate of 5.6%

In this case, the broker fee paid for itself in saved interest and a smoother experience.

Stats that matter

• There are typically 3,000+ mortgage products available at any one time in the UK. Comparing them all yourself is nearly impossible.
• Around 75% of residential mortgage applications now go through brokers.
• 42% of first-time buyers had their mortgage application rejected at least once, often due to applying with the wrong lender.

These stats show that using a broker is becoming the norm, not the exception, especially in a complex lending market.

That said, I have arranged all my own mortgages, 4 of them to date and had no trouble.

As long as you do your research, prepare your application and are careful who you apply with, you should be fine.

It may not be for everyone though…

Practical steps: How to choose a mortgage broker

If you decide to go the broker route, do it wisely.

Here’s what to check:

1. Check their authorisation: Use the FCA register to confirm they’re authorised to give mortgage advice.
2. Ask if they’re “whole of market”: Make sure they’re not tied to a narrow panel of lenders unless you’re happy with those options.
3. Confirm the fee structure: Some brokers charge upfront, others on completion. Some don’t charge you at all (paid via lender commission). Always get it in writing.
4. Ask about turnaround times: Some brokers are swamped and slow. Ask how quickly they typically submit applications and respond to queries.
5. Read reviews: Use Trustpilot, or VouchedFor to see feedback from past clients.

Practical steps: If you go DIY

Want to try it yourself? Here’s how to do it effectively:

1. Use a comparison site: Sites like MoneySavingExpert Mortgage Best Buys, MoneySuperMarket, Compare the Market. Check not just the rate, but also fees, product types (fixed vs tracker), lender eligibility rules (e.g. income multiples, credit score thresholds).
2. Check lender websites directly: Some lenders offer exclusive online rates or cashback deals not shown on comparison sites.
3. Use eligibility checkers: Use soft search tools to avoid damaging your credit file with rejected applications. Halifax, Nationwide, and HSBC all offer online pre-checks.
4. Prepare your paperwork: Common documents needed include, last 3 months’ payslips, last 3–6 months’ bank statements, proof of deposit, photo ID and proof of address and P60 (if employed) or SA302 + tax overview (if self-employed).
5. Know the timeline: Mortgage applications typically take 2–4 weeks to be approved. You’ll need to be proactive, chasing solicitors, surveyors, and the lender.

When a broker is especially worth it

Consider using a broker if:

• You’re self-employed or have variable income
• You have a poor or thin credit history
• You’re buying a new-build or shared ownership property
• You’re using a Help to Buy, Right to Buy, or other scheme
• You want a high LTV mortgage (e.g. 90%+)
• You’re remortgaging after a credit event (e.g. missed payments)

These situations often require lender-specific knowledge that’s hard to research on your own.

Final verdict: Which is best?

There’s no single right answer to this question, but here’s a guide to help you decide:

Ultimately, if you value convenience, expertise, and tailored support, a broker is usually worth the cost.

If you’re confident, financially savvy, and your situation is simple, the DIY route can work just fine.