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Get Financial Advice When Choosing Your Mortgage: Compare UK Brokers

Explore the world of mortgage brokers with SpotDif and find a great deal on a broker near you.

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What's In This Guide

Find the best mortgage brokers

In the world of property buying, finding the right mortgage can feel like an uphill battle. That's where SpotDif steps in, transforming confusion into clarity with our advanced comparison tool. Are you a first-time buyer or a next-step investor? No matter your stage, the perfect mortgage plan and the best mortgage brokers are closer than you think.

We specialise in bringing transparency to your mortgage journey. Our comparison tool does the heavy lifting, analysing countless options to match you with choices that make sense for your situation. It's not just about the numbers on a page; it's about pairing you with the best mortgage brokers who understand your dreams and financial landscape.

But how do brokers streamline this process? And what are the costs? We answer these questions and more, providing an in-depth look into the professional world that could be the key to your new front door. With SpotDif, you're not just browsing, you're uncovering opportunities.

Your journey to property ownership deserves to be confident and informed — compare and save with SpotDif.

Recap: how do mortgages work?

Mortgages are more than just loans; they're the most significant financial commitments most of us will ever make, and they can be complex. Essentially, a mortgage is a loan you take out to buy property or land when you can't afford the full purchase price upfront. The property serves as collateral until the mortgage is paid off.


First, you put down a deposit. The bigger your deposit, typically the better the mortgage deal you'll get. The rest is borrowed from a mortgage lender and you'll pay this sum back with interest over an agreed period, known as the mortgage term. Most mortgages run for 25 years but can be shorter or longer.


Your mortgage repayments are influenced by several factors: the size of the loan, the term, the interest rate, and whether the rate is fixed (stays the same for a set period) or variable (can change). A fixed-rate mortgage makes budgeting easier because your payments won't change over the fixed period. However, a variable rate could be less expensive overall, but it involves more risk.

Failing to keep up with your mortgage repayments can have serious consequences. The lender may repossess the property and sell it to recover the money they lent you. The importance of a mortgage that suits your financial situation can't be overstated, which is why advice from good mortgage brokers can be invaluable.

What does a mortgage broker do?

A mortgage broker is a licensed professional who acts as a bridge between you and the lender. Their role encompasses several responsibilities, all aimed at helping you secure the best mortgage deal possible.

(Remember, a mortgage broker works for you, not the lender. Their job is to advocate for your interests, providing expertise, access, and peace of mind during the home-buying process.)

They assess your financial circumstances

They'll look at your income, debt, credit score, and how much you can afford in monthly payments. This helps determine which mortgage products are within your reach. A broker's access to a vast array of lenders and knowledge of their criteria means they can identify lenders who are most likely to accept your application.

They search for the most suitable mortgage options

This isn't just about the lowest interest rate; it's also about finding the right mortgage type for your situation. The best mortgage brokers consider the structure, terms, and rates of various mortgages, and explain these to you in simple terms, helping you understand the pros and cons of each option.

They’ll support you in the application process

Once you choose a mortgage, they'll help you through the application process. They liaise with the lender, help you fill in the paperwork, negotiate terms, and can even assist with the legal aspects, making the process smoother.

How much are mortgage brokerage fees?

Understanding how brokers get paid helps you navigate this aspect of securing a mortgage. Generally, there are three ways brokers might be compensated: lender-paid fees, borrower-paid fees, or a combination of the two.

Lender-paid fees

These are commissions paid by the lender to the broker for bringing in your business. The fee is a percentage of the loan amount, typically 0.3% to 1%. It's essential to understand that while this option might seem like the broker's services are "free" to you, the cost is often built into the loan in some way, potentially through a higher interest rate.

Borrower-paid fees 

On the other hand, borrower-paid fees are paid by you, either as a flat fee or a percentage of your loan amount. This fee is agreed upon from the outset and is paid at closing. This option can sometimes result in a better deal, as there's no incentive for the broker to recommend a higher loan amount or a loan with a higher interest rate.

Combined fees

Some brokers use a combination of the two, especially if there's a cap on how much they can receive from a lender. They might charge you a fee to make up the difference.

Always discuss fees with your mortgage broker

It's important to have an open conversation with your broker about their fees. They should be transparent about how they're compensated and how that affects your loan options. Don't hesitate to shop around and compare fees, but also consider the broker's experience, services, and your comfort level with them.

How to find the best mortgage brokers near you

When it comes to finding the right mortgage broker, research is key — but where to begin?

  • A good starting point is personal referrals from people you trust — friends, family, or colleagues. They can provide honest insights into their experiences, good or bad.

  • Online reviews and ratings are also invaluable. They can offer a wider range of opinions and highlight any recurring issues or praise points. 

Additionally, comparison sites like SpotDif offer a wealth of information, comparing brokers based on various criteria, helping you make an informed decision on good mortgage brokers.

  • Check the broker's credentials. They should be accredited and licensed, ensuring they meet specific professional standards. In the UK, brokers need to be approved by the Financial Conduct Authority (FCA), so check the FCA register to confirm they're registered.

  • Arrange a consultation. This gives you a sense of their professionalism, their understanding of your needs, and whether they can communicate effectively. Prepare questions about their experience, the types of loans they typically work with, their fees, and how they communicate with clients. The way they answer can give you a clear indication of whether they're the right fit for you.

  • Finally, trust your instincts. Your broker will guide one of life's most significant financial decisions, so it's essential you feel comfortable and confident in their abilities. If something doesn't feel right, it's okay to look for someone else. Good mortgage brokers can make the mortgage process smoother, less stressful, and more successful.

Search and compare mortgage brokers with SpotDif

Are you ready to make an offer on a property? Find the best mortgage broker to help you get a great deal on your dream home. Search and compare brokers with SpotDif, so you can make an informed decision.

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Tansy Dando
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I'm always curious to understand and unpick the latest trends for all things wealth and business.
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