SHOULD YOU USE A MORTGAGE BROKER?

Quite frankly, a good broker is worth every penny of their fee. You won’t get a mortgage more cheaply by going direct to a lender – in fact, if anything it works the other way around, as the provider knows a specialist can smooth the application process.

Brokers are paid by the lender through a procuration fee when your mortgage ultimately completes, but this cost has not been added to your mortgage so there is no discount for going direct. You’ll also pay a modest fee to the broker yourself for their early advice.

Given how specialised the market is, this is money well spent as it will lead you to the most appropriate lender and, crucially, the right mortgage product to fit your personal and project profile. Buildstore (www.buildstore.co.uk) are the acknowledged industry experts regarding the advance stage payment mortgage, which they have branded as Accelerator through their lender panel.