Remortgage seeking homeowners and hopeful home buyers are looking more often to the assistance of a broker rather than going it alone to secure a loan.  The more complicated processes in securing a loan, as well as the desire for expert and sound advice while shopping around for the best deal, have led more to seek out the assistance of a broker.  This trend is only expected to grow according to experts.

Working with a direct lender or a broker can be similar in many ways but there are vast differences.  Lending agents can only offer the products from their own institution and work for and on the behalf of the lending establishment.  Brokers work with many lenders and work for the borrowers and lenders while working on behalf of the borrowers. 

Because brokers work with a variety of lenders they are knowledgeable of which ones are most likely to consider a borrower.  They also know their way around the application process and guidelines required by lenders.  Qualifying for a loan can be simplified with their vast amount of experience and knowledge working with a wide variety of lenders.

Brokers can help a borrower determine the true value of a remortgage or mortgage offer.  Fees can be expensive and should be considered along with any interest rate savings of one deal when compared with another.  The overall savings should be considered as well as the benefits of a deal such as the term of the loan and possible exemption of fees later on should the borrower seek a switch or choose to pay off the loan early.

Brokers may also have access to more competitive deals from lenders that are not made available to consumers.

Some may continue to go the process alone but more remortgage and mortgage borrowers are seeking out brokers to streamline their experience, make the situation less stressful, and to push the odds more favorably toward their success of gaining approval.