What does a mortgage broker actually do?
A mortgage broker acts as the link between you and the lender. They assess your finances, search for suitable products across the market, recommend the best option, and handle the application paperwork. They also chase the lender, liaise with your solicitor, and troubleshoot any issues that arise.
Good brokers don’t just find you a rate — they understand lender criteria in detail. They know which lenders are more flexible on income types, which ones are faster to process, and which are most likely to say yes in your specific situation.
Why use a broker instead of going straight to a bank?
You can apply directly to a bank or building society, but there are significant advantages to using a broker.
| Going direct to a bank | Using a mortgage broker |
|---|---|
| Limited to that lender’s products only | Searches across 90+ lenders to find the best deal |
| The adviser works for the bank, not for you | Works for you, not the lender |
| May miss better deals available elsewhere | Knows criteria differences between lenders |
| No fee to the lender (but you may pay a higher rate) | Only applies where you’re likely to be accepted |
| If declined, you’ve used a hard credit search | Handles the full process and chases on your behalf |
| Good if you have a simple, straightforward case | Essential for complex cases (self-employed, bad credit, contractors) |
Whole-of-market vs tied brokers
Not all brokers have access to the same range of lenders. Understanding the difference helps you choose the right one.
A whole-of-market broker can recommend products from across the entire lending market. They’re not limited to a panel and can search all available lenders.
A tied or multi-tied broker works with a selected panel of lenders. They may have access to exclusive products but can’t compare the whole market. Some estate agent “in-house” brokers are tied to a limited panel.
Clearview Mortgage Solutions is a whole-of-market broker with access to 90+ UK lenders, meaning we can compare the widest range of products for your situation.
What to expect at your first appointment
Your first meeting with a broker (whether in person, by phone, or on video call) is about understanding your situation and working out what’s achievable.
- 01
Initial discussion
The broker asks about your situation: your income, deposit, any debts, the type of property you’re looking at, and your timeline. This is an informal chat, not a formal application.
- 02
Affordability assessment
Using the information you provide, the broker calculates roughly how much you could borrow. They’ll explain which lenders suit your income type and what rate range to expect.
- 03
Product recommendation
The broker searches the market and recommends specific products. They’ll explain the differences between fixed, variable, and tracker rates, and suggest the right term length.
- 04
Next steps
If you’re ready to proceed, the broker outlines what documents you need and starts preparing the application. If you’re not ready yet, they’ll advise on what to do to strengthen your position.
What information should you bring to your first meeting?
The more prepared you are, the more your broker can do in the first session.
Income evidence
- Latest 3 months’ payslips (employed)
- SA302s and tax year overviews (self-employed)
- Details of any other income (rental, investments, benefits)
Deposit information
- How much you’ve saved and where it’s held
- Whether any of it is gifted (and from whom)
- Evidence of the source (bank statements)
Outgoings and debts
- Credit card balances and monthly payments
- Loan repayments (car finance, personal loans)
- Child maintenance or other regular commitments
Property details (if you’ve found one)
- Property price and address
- Whether it’s freehold or leasehold
- New-build or existing property
How do mortgage brokers get paid?
Brokers are paid in one of three ways, and it’s important to understand which model your broker uses.
Lender commission (procuration fee)
- The lender pays the broker a fee when the mortgage completes
- Typically 0.3–0.4% of the loan amount
- No direct cost to you
- The most common payment method
Broker fee
- A fee charged directly to you for the broker’s service
- Typically £300–£1,000, sometimes more for complex cases
- Usually payable on application or completion
- Some brokers charge a fee AND receive lender commission
Fee-free brokers
- Funded entirely by lender commission
- No cost to you at any stage
- Check that they still have whole-of-market access
At Clearview Mortgage Solutions, we’ll explain our fees upfront before we do any work. You’ll always know the cost before committing, and there’s no charge for your initial consultation.
How to choose a good mortgage broker
Not all brokers are created equal. Here’s what to look for when choosing one.
Check their credentials
- Must be authorised and regulated by the FCA
- Check the FCA register at register.fca.org.uk
- CeMAP or equivalent qualification
Ask about their market access
- Whole-of-market is better than a limited panel
- Ask how many lenders they work with
- Check if they have access to specialist lenders if relevant to your case
Read reviews and ask for recommendations
- Google reviews, Trustpilot, and VouchedFor ratings
- Personal recommendations from friends or family
- Look for reviews from people in similar situations to yours
Assess their communication
- Do they explain things clearly without jargon?
- Are they responsive to calls and emails?
- Do they proactively update you or do you have to chase?
Questions to ask your broker
At your first appointment, don’t be afraid to ask questions. A good broker will welcome them.
How many lenders do you have access to? What are your fees, and when are they payable? How much could I borrow based on my income? What rate range should I expect? Are there any schemes I could benefit from? How long will the process take? Will you manage the application from start to finish? What happens if my application is declined?
A broker who answers these questions clearly and honestly is one you can trust with your mortgage.
FCA regulation: what it means for you
All mortgage brokers in the UK must be authorised and regulated by the Financial Conduct Authority (FCA). This means they’re required to treat you fairly, give suitable advice, be transparent about fees, and have a formal complaints procedure.
If something goes wrong, you have access to the Financial Ombudsman Service (FOS), and your broker must hold professional indemnity insurance. FCA regulation provides a genuine safety net that protects consumers.
Get started with Clearview Mortgage Solutions
At Clearview Mortgage Solutions, we’re a whole-of-market broker with access to 90+ UK lenders. Our CeMAP-qualified advisers specialise in first-time buyers and will guide you from your first question through to picking up the keys.
Contact us for a free, no-obligation initial consultation. We’ll review your situation, explain your options, and get you on the right path to homeownership.
As a first-time buyer I had no idea where to start. My Clearview broker explained everything, found me a great rate, and handled all the paperwork. I’d recommend them to anyone.