Should I use a mortgage broker?
A mortgage broker understands the market and the criteria to meet to get a mortgage with a poor credit score.
As a mortgage applicant, you should consider using a mortgage broker if you’re having difficulty getting a mortgage. They’ll consider a wider range of options than if you went directly to a lender, increasing your chances of getting the right deal for you.
Online mortgage brokers such as Trussle can conveniently manage your entire application online, saving you from lengthy paperwork and having to take time out to visit an office.
Watch out for fees
This area of the market is unfortunately unfairly targeted by some brokers who charge extra fees to help those with bad credit.
A quick Google search will find some brokers charging fees of up to £1,995, or a staggering 10% of the loan amount.(2)
At Trussle, we don’t believe you should have to pay for advice to own your own home - no matter your credit history. That’s why our service is completely free.