If you’re a homeowner, or looking to buy a property, an article by the BBC in June 2025 makes for interesting reading. It reveals that experts are predicting The Bank of England (BoE) could cut interest rates throughout 2025, following its decision to drop them from 4.5% to 4.25% in May.
As a result of this, millions of households across the UK could see their monthly mortgage repayments drop significantly. This in turn may mean that 2025 is a good time to remortgage your home to reduce repayment costs, or even move to a new property and apply for a new mortgage.
If you’re considering either of these, working with a mortgage broker could prove to be a very savvy financial decision and provide peace of mind. Read on to discover why.
1. A broker can access deals that aren’t open to the public
As mortgage brokers have the ability to pass a lot of business to lenders, providers are keen to attract their business. As such, they offer deals to brokers that are not widely available to the public.
This means that a broker might be able to access a deal that provides a more attractive interest rate than you could find by yourself, which in turn could reduce your monthly repayments. Alternatively, they could offer you a fixed-rate product that lasts longer.
Having a fixed rate that lasts longer might allow you to budget further into the future. This could provide you with the assurance that you can comfortably repay your mortgage regardless of what happens with interest rates.
It’s worth remembering that mortgage lenders and comparison websites won’t tell you that mortgage brokers could have access to deals that are not widely available.
2. They can find the most suitable mortgage for you
Working with a broker provides peace of mind that the mortgage advice you receive is the most suitable for your needs. They will consider your circumstances and use their extensive knowledge of the mortgage market to find a loan that is right for you.
While you might think that the mortgage with the least expensive interest rate would be the best, in reality this might not be true. Choosing the cheapest mortgage could result in you paying significantly more over the long-term if, for example, you opt for a 40-year term instead of a 25-year loan at a slightly higher rate.
While you might assume that simply selecting the lowest available interest rate is the only important factor, in reality this might not be true. Choosing the cheapest mortgage rate but opting for a longer repayment term could result in you paying significantly more interest over the long term.
A mortgage broker would be able to guide you in selecting the right mortgage term for you, as well as any other specific requirements you may have, as outlined below.
Other factors a broker will consider include:
- whether there is an up-front product fee
- the mortgage’s loan-to-value (LTV), which will determine how big your deposit needs to be
- setting-up costs and exit penalties the provider may want to charge
- how much the provider will allow you to overpay your mortgage each year, as many lenders restrict this.
Whether the mortgage is portable, should you move property during the term of the loan.
It’s also worth remembering that if a broker is independent, as all AFH mortgage advisers are, they will be able to access the whole of the mortgage market, effectively meaning their product range is unlimited. As such, they could offer a wider selection of deals for you to choose from.
3. A broker saves you time and provides peace of mind
Looking for a mortgage by yourself can be time-consuming. With so many different providers offering so many different deals, it can take a long time to whittle down your options to the ones that are best suited to you.
A mortgage broker can do this on your behalf, meaning you can get on with your life in the knowledge that you’ll be offered the most suitable option for your needs.
Furthermore, when you do apply for a mortgage, it can be stressful. The applications can be long, and one simple mistake could significantly delay the process of being accepted for the loan, which could cause stress – especially if you’ve had an offer accepted on your dream home.
As brokers are well practiced at completing applications, they can guide you through the process to ensure that you fill it in correctly and avoid any common mistakes. In addition to this, they also understand which lenders are likely to look at your application more sympathetically if, for example, you’re a first-time buyer, self-employed or both.
Thanks to their experience, brokers also understand what different lenders will and won’t accept. For example, some providers won’t lend on properties above certain types of businesses.
This means you won’t waste time making an application to a lender that’s highly unlikely to accept your application.
Get in touch
If you are looking to buy a new home and would like to talk to one of our independent mortgage brokers, please get in touch. We’ll provide clear and understandable advice that could help you reduce your monthly repayments and ensure that the mortgage you decide on is right for you.
Friday 27 June 2025