Can a Mortgage Broker Get Me a Better Rate?

The short answer

In many cases, yes. A mortgage broker can often find you a better deal than going straight to your bank. That might be a lower rate, lower fees, or simply a lender that suits your situation better.

At Drummonds Finance Group, we spend our time comparing the market properly, not just showing you what one bank is willing to offer.

Why brokers often find better mortgage deals

We look at more than one lender

Your bank can only offer its own mortgages. A whole of market broker can compare deals from:

• High street banks

• Online lenders

• Specialist lenders

• Broker only mortgage deals

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That wider view usually means more choice and better value.

If you’re buying locally, our Oxford mortgage broker and Bicester mortgage broker team know which lenders are competitive right now and which ones are best to avoid.

We help you avoid the wrong lender

Every lender has different rules. Some are great for certain clients, others are not. A good broker knows which lender is most likely to accept your application and offer a decent rate.

That often means:

• Fewer declined applications

• Less stress

• Getting it right first time

This is especially helpful if you’re self-employed, buying a buy-to-let, or your income isn’t straightforward.

Is the “best rate” always the cheapest one?

Not always. A lower rate can sometimes come with higher fees or less flexibility. We look at the overall cost, including:

• The interest rate

• Any product or arrangement fees

• Cashback or free valuations

• Early repayment charges

• How flexible the mortgage is

Often, that saves more money than just chasing the lowest headline rate.

A simple example

Your bank might offer a 2-year fixed rate at 5.19%. A broker could find a similar deal at 4.85% with lower fees, saving you over £1,000 over the fixed period.

That’s why comparing the whole market usually pays off.

When using a broker really helps

People often benefit most from a broker if they are:

• Buying their first home

• Remortgaging or switching lenders

• Looking at buy-to-let mortgages

• Self-employed or paid through dividends

• Dealing with past credit issues

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These are exactly the situations where the right lender choice makes a big difference.

Why clients choose Drummonds Finance Group

We keep things simple and honest. No jargon, no pressure.

We:

• Compare a wide range of UK lenders

• Access broker-only mortgage deals

• Help clients in Oxford, Bicester and across the UK

• Offer advice by phone, video call or online

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If you’d like to see how we can help, you can find out more about Drummonds Finance Group here.

Your home may be repossessed if you do not keep up repayments on your mortgage.