A mortgage broker exists to do one thing well: find the loan that fits your circumstances and get it approved at a sensible price. A whole-of-market broker can see almost every lender; a bank branch can only sell its own range. The gap between those two positions is where good advice pays for itself, and occasionally, where it isn’t needed at all.
What a mortgage broker actually does
A broker takes your income, deposit, credit history and plans, then works out which lenders will lend, how much, and on what terms. They handle the application and step in when an underwriter asks questions. Much of the value is invisible: knowing before you apply which lender will accept a contractor’s day rate, a recent default, or a flat above a shop, so your credit file isn’t marked by a decline.
There are three unequal ways to arrange a mortgage.
The three routes to a mortgage
| Route | What you get | Watch for |
|---|---|---|
| Whole-of-market broker | Most lenders, plus intermediary-only deals | Check they are truly whole-of-market, not a panel |
| Direct to one lender | That lender’s own range, no middle party | Nobody checks whether a rival suits you better |
| A lender’s own adviser | Advice on that lender’s products only | Cannot recommend a cheaper competitor |
How brokers are paid, and why it matters
Most brokers are paid a procuration fee by the lender: a commission, usually a fraction of a percent, paid when it completes. Many also charge you a client fee, a flat amount or a percentage. Some charge no client fee and work on the procuration fee alone.
Why this matters: a broker paid solely by lenders has a quiet incentive to place your case where the commission is best. So ask two questions up front, are you whole-of-market? and how are you paid on my case? Vetted Wealth only introduces advisers who set out their fees plainly.
Your home is on the line
A mortgage is secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Borrow what the payments comfortably allow, not the lender’s maximum.
Who needs a broker, and who doesn’t
First-time buyers usually benefit most: the choices are unfamiliar and small errors are expensive. Home movers juggling a chain gain from someone coordinating the timing and porting an existing deal. Remortgaging is often simple enough to handle yourself, but a broker is worth it if your income or the property has changed. Buy-to-let and portfolio landlords face rental-cover calculations and stress rates that differ sharply by lender. Our mortgage guides walk through each in detail.
- 1
Self-employed or complex income
Lenders treat retained profit, dividends and contractor day rates very differently.
- 2
Adverse credit
A default or CCJ narrows the field to specialist lenders a comparison site won’t surface.
- 3
Tight affordability
When the numbers are borderline, the right lender’s stress test can be the difference between yes and no.
- 4
Buy-to-let and portfolio landlords
Rental stress cover, top-slicing and limited-company lending vary widely.
LTV, affordability and stress testing
Lenders price in loan-to-value bands, the loan as a percentage of the property’s value. The more deposit or equity you bring, the lower their risk, and the cheaper your rate. Crossing a band can move you to a better tier, so it is often worth finding the extra deposit to reach 90%, 85% or 80%.
How loan-to-value shapes your rate
| Loan-to-value | What it means | Effect on pricing |
|---|---|---|
| 60% or below | A large deposit, or plenty of equity | Usually the lowest rates a lender offers |
| 75%–85% | A typical mover or remortgage | Competitive, mainstream pricing |
| 90% | Around a 10% deposit | Fewer lenders; rates step up |
| 95% | Around a 5% deposit | Smallest pool, priciest tier, tighter criteria |
Lenders must also test affordability, not just today’s rate. They stress your budget against a higher notional rate, in case rates rise. Two lenders can reach very different maximum loans from the identical payslip, which is exactly why whole-of-market access matters.
When a deal ends you have two routes. A product transfer switches you to a new rate with your existing lender, quick, with no fresh affordability check or legal work. A remortgage moves the loan to a different lender: potentially cheaper, but it means a new application, valuation and conveyancing. A broker should compare both and say when staying put wins.
Older borrowers have more choice than they once did. Retirement interest-only mortgages let you pay only the interest for life, with the capital repaid when the home is eventually sold. These sit alongside, and are distinct from, equity release, which rolls the interest up instead. Searching locally? Our advisers cover Devon and Cornwall.
How we vet the advisers we introduce
Vetted Wealth is an introducer, not a broker. We check FCA authorisation, permissions, complaints history and professional indemnity cover before an adviser joins our network, and we re-check. The introduction is free to you, because adviser firms pay us. We give information, not personal advice: any recommendation comes from the regulated broker you choose.
Key takeaways
- A whole-of-market broker can see almost every lender; a bank branch sells only its own range.
- Ask two questions early: are you whole-of-market, and how are you paid on my case?
- LTV bands drive pricing: a bigger deposit that crosses a band can cut your rate.
- Self-employment, adverse credit and tight affordability are where a broker earns their keep.
- Your home may be repossessed if you do not keep up repayments on your mortgage.
Where we operate
Vetted Wealth is live across Devon and Cornwall, with further counties opening through 2026. Choose your county to see the towns we cover and the advisers we have vetted there.
Most people start on their county page and then pick their town. If you would rather skip that, use the form on this page, tell us where you are and we will match you with a vetted mortgage advice specialist near you.
Popular towns
Learn more before you speak to anyone
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Speak to a vetted mortgage advice specialist
This page is information, not personal advice. When you are ready, we will introduce you to an independently vetted, FCA-regulated adviser, free, and with no obligation. Investments can fall as well as rise and you may get back less than you invest.