Broker-Only Mortgage Lenders

Access the whole Mortgage Market including Broker-exclusive Lenders.

Broker-only lenders operate exclusively through mortgage brokers and can provide deals that sometimes outshine those offered by mainstream banks or lenders.

Kerr & Watson are an independent whole of market broker and we explore the benefits broker-only lenders offer, the types of deals available, and more.

Understanding Broker-Only Mortgage Lenders

A broker-only mortgage lender, also known as an intermediary-only mortgage lender, is a unique type of mortgage provider accessible solely through mortgage brokers. They don’t engage directly with the general public but offer exclusive deals to customers who work with mortgage brokers.

The advantages of opting for a broker-only mortgage lender are:

Diverse Range of Rates and Products

Broker-exclusive lenders provide a broader spectrum of mortgage rates, deals, and products, allowing you to find the ideal fit for your financial situation and goals.

Flexible Mortgage Features

These lenders often offer flexible features, such as uncapped overpayments and extended mortgage terms, giving you greater control over your mortgage.

Higher Approval Chances

For complex mortgage scenarios, such as those involving bad credit, broker-only lenders may have higher approval rates compared to mainstream lenders.

Expert Broker Guidance

When you work with a mortgage broker, you receive personalised advice tailored to your specific needs, ensuring you make informed decisions.

While mainstream lenders can also offer competitive rates and approve mortgages for various customers, gaining access to broker-exclusive mortgage providers expands your options. Kerr & Watson compare high street lender offers with these exclusive deals, ultimately enhancing your chances of securing the best mortgage for your needs.

Broker-Exclusive Mortgage Lenders

There are several prominent broker-only mortgage lenders in the market that offer a diverse array of mortgage solutions. These lenders include:

When you choose to apply for a mortgage through a whole of market mortgage broker, you gain access to an extensive list of mainstream lenders and the exclusive options listed above. This substantially increases your options and allows you to explore various product ranges and find the mortgage solution that aligns perfectly with your financial goals.

In addition to these dedicated broker-only lenders, some mainstream lenders also offer broker-exclusive mortgage deals. These deals comprise special interest rates and products exclusively available to customers applying through a mortgage advisor.

Get Access to more options

For certain circumstances, flexibility and improved approval odds are paramount considerations.

Although broker-exclusive lenders may not consistently provide the most competitive rates, their extensive array of choices increases the likelihood of obtaining a mortgage that precisely aligns with your requirements.

Lenders operating exclusively through intermediaries demonstrate proficiency in securing mortgages for individuals encountering challenging situations, such as adverse credit.

In these scenarios, traditional lenders may impose substantially higher rates or outright decline the application.

Accessing a Broker-Only Mortgage Lender

Working with a whole of market mortgage broker unlocks all of your options, providing access to an extensive range of lenders and products. This accessibility is just one of the compelling reasons to utilise a mortgage broker when seeking a mortgage.

While there’s no guarantee that everyone will secure a better deal through a broker-only mortgage lender, the increased array of options increases your chances of mortgage approval. It also improves your likelihood of discovering the perfect mortgage deal tailored to your unique circumstances.

Essentially, broker-only mortgage lenders offer a distinct advantage in the mortgage market. By working with a mortgage broker, you gain access to all of your options, including both mainstream and exclusive deals. This expanded selection increases your chances of securing favourable rates, flexible terms, and higher approval rates, ultimately leading you to the perfect mortgage solution for your needs.

Don’t miss out on the benefits of broker-exclusive mortgage lenders – explore this avenue with the guidance of a trusted mortgage broker like Kerr & Watson to unlock your path to better deals and financial security.

Your Mortgage In 3 Easy Steps…

Conversation

Schedule a call to talk to a mortgage advisor about your goals, challenges and vision for your mortgage.

Alternatively give us a call on 01252 224620 or email us on info@kerrandwatson.co.uk.

Research

We will take the information gained on the call and carry out some research before sending you a bespoke recommendation.

If you would like an agreement in principle, we’ll also arrange this for you.

Application

We will submit the full application to the mortgage lender, sending them the documents and liaising with the underwriters until the mortgage has been fully offered on the new interest rate.

We will also communicate with you at every stage, from application to completion.

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Kerr & Watson | Address: Pembroke House, 8 St Christophers Pl, Farnborough GU14 0NH, UK | Phone: 01252 224620 | Email: info@kerrandwatson.co.uk | Hours: Mon-Fri 9:00–17:30

Frequently Asked Questions

▸ ▾ What does a mortgage advisor do?

A mortgage advisor evaluates your income, outgoings, credit history, and other financial commitments. They also assess property-related details, whether you’re buying or refinancing, ensuring you understand the best mortgage options for your situation. They also process the mortgage application to the lender, working with them to obtain a mortgage offer, then work with the conveyancer towards the completion of your purchase or remortgage.

▸ ▾ How does a mortgage advisor enhance the likelihood of mortgage approval?

A mortgage advisor increases your chances of mortgage approval by matching you with the most appropriate lenders, optimising your application, and navigating complex lending criteria to find the best value deal for your circumstances.

▸ ▾ What are the financial benefits of working with a mortgage advisor?

Working with a mortgage advisor can save you from costly mistakes such as choosing the wrong mortgage type or failing to meet a lender’s criteria. Their expertise often leads to securing more favourable mortgage terms and rates.

▸ ▾ Can a mortgage broker get you a better rate?

Often, a mortgage broker can find more cost-effective deals for you, even when their fees are considered, they can review the whole market and access exclusive broker only products that may not be available directly to the public.

▸ ▾ What steps should you take before speaking to a mortgage advisor?

Before speaking with a mortgage advisor, gather all relevant financial documents, including payslips, bank statements, and details of your credit history to ensure an accurate assessment of your situation.

▸ ▾ What range of financial history do mortgage advisors examine?

Mortgage advisors and lenders typically assess the last six years of your credit history to gauge your financial behaviour, this includes any missed payments or defaults.

▸ ▾ How long does it take a mortgage advisor to get a mortgage offer?

The process from application to approval of a mortgage can vary, normally this is anywhere from two to six weeks depending on the mortgage lender and the complexity of your situation.

▸ ▾ Do mortgage advisors have access to exclusive mortgage rates?

Yes, mortgage advisors often have whole-of-market access, which allows them to secure competitive rates, sometimes not directly available to consumers.

▸ ▾ What documents do mortgage advisors typically require?

Advisors typically need proof of identity, proof of address, 3 months payslips, tax calculations or accounts, bank statements, and potentially credit report to fully assess your financial situation.

▸ ▾ What are the advantages of using a mortgage broker rather than going direct to your bank?

A mortgage broker can provide whole of market advice by comparing offers from multiple lenders, potentially securing better rates and terms than a single bank’s offerings.

▸ ▾ Who are the Financial Conduct Authority?

The Financial Conduct Authority (FCA) regulates mortgage brokers and lenders to ensure they adhere to ethical and professional standards.

▸ ▾ How do you know if your mortgage advisor is qualified?

A qualified mortgage advisor should have a Certificate in Mortgage Advice and Practice (CeMAP) or equivalent, which is recognised by the Financial Conduct Authority (FCA). They should also be listed on the Financial Services Register, ensuring they are authorised to give mortgage advice.

▸ ▾ How can you get a free credit report?

Lenders look closely at your credit score to decide how risky it is to lend to you. A good credit score can not only boost your chances of getting approved for a mortgage but might also get you better interest rates.

CheckMyFile offer a 30-day free trial after which a subscription fee applies, which can be cancelled any time.

CheckMyFile is a UK credit reporting service that collates information from the most popular credit referencing agencies, Equifax, Experian & TransUnion.