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Zeroing On The Right Mortgage Broker


A broker’s job is to get you a good deal, on any specific task that you are looking at! Example, land brokers, vehicle dealing brokers and mortgage brokers, each one has a specific task in their specified field.  Mortgage brokers help you get good interest rates, reliable conditions and terms of your mortgage. They are mostly paid by the lender, unlike the other brokers who charge from you too. By using mortgage brokers, you needn’t pay a penny.

All of us are not blessed with right brokers at the very first place, few of them search for days together, while few are in the process for months. It’s not that all are bad, or all are perfect, but depending upon our necessity, only a few fit the bill.  It’s not uncommon to find recommendations by friends and family for best brokers, but what was best for them, needn’t be the same to you. Sometimes it might turn out to be good, but not sure. So, how do you find the right broker, for your mortgage needs?

By the way, all the brokers are neither independent nor dependent. Few are attached to companies, franchises, while few work independently. Brokers working for companies, sometimes get offers and deals for their work, for bringing in good customers like you. They get promotions and bonuses too, which keeps them encouraging continuing the work, as good as it is!

Back to the topic, choosing the right mortgage broker!! Here are few set of questions that you might consider before zeroing on the broker. You may ask yourself, and find out replies via books, net etc.; or ask your friends and family those that recommended or simply ask a broker that you have met.

Types of Mortgage that they specialise in:

Asking the broker about the type of mortgage that they normally do and specialise in, will help you to understand and judge if they fit your bill or not. A mortgage broker will have experience of different clients from different financial backgrounds and might have worked with many different lenders, in accommodating the needs of the client.
So, in case you are self-employed and looking for options, you must go a little deeper in fetching the information you need. Most of the lenders that source funding privately for self-employed often don’t have strict rules and regulations. You must ensure that your broker knows all about this and much more so that you can make the right decision about the lender.

Payment of the broker:

Any profession that you name these days, people work for their best interests largely, then our interests! Brokers that work for the company are paid by the lending company and they shouldn’t hesitate to help you in any way that you need. They are paid almost same as the other brokers in the field.  So, understand why a broker is recommending particular lender and particular mortgage for you and if those options have any connection between their payments.

The term in this business:

Though the longevity of the person doesn’t imply that he is proficient, yet you can be a little satisfied that he/she might possess the experience and might have seen the ups and downs the industry throws and will help you better. In another way, the younger ones aren’t well equipped doesn’t hold true. Though their experience may be shorter, the knowledge acquired might be greater than their counterparts. So check for the business knowledge that they offer to you.


Check for references through your family and friends and also get references from other search engines. Find some references of brokers via old clients of the same organisation. Or ask your broker to refer to some old clients that they have dealt with, if they hesitate to give you, then you must continue your search. Read reviews of the organisation and the broker that you are working with currently.


Brokers irrespective of weekdays and weekends should be available to you. Sometimes you might have to get things done in a hurry and if your broker isn't available, your whole process and time will become stagnant. So check for the availability of your brokers, they must be able to at least accessible to emails, or calls or messages.