If you walk into a bank branch for a mortgage, you are not getting “the market”. You are getting that bank’s menu, served by someone paid to sell it.
That is not automatically bad. But it is a very different game to using a mortgage broker who can shop across lenders and build a strategy around your numbers, your timeline, and the property you are actually buying.
So when people ask “mortgage broker vs bank UK – which is better?”, the honest answer is: it depends on what you need. The useful answer is: here is what each route really does, where it bites you, and how to choose without getting stitched up.
Mortgage broker vs bank UK: the real difference
A bank (or building society) adviser can only recommend products from their own range. Even if they are friendly and knowledgeable, they cannot ring five other lenders to see who is more flexible on your income, your deposit, or that awkward detail in your credit file.
A broker, on the other hand, is built for comparison. They can look across a panel of lenders, match you to criteria, and help you structure the mortgage so the overall deal makes sense – not just the headline rate.
This matters because mortgages are not won on interest rate alone. Fees, incentives, early repayment charges, term length, affordability calculations, and lender quirks can make a “cheap” deal expensive, or make an “expensive” deal the one that actually gets approved.
When going straight to a bank can be the right move
There are scenarios where a bank application is perfectly sensible.
If you are a very straightforward borrower – stable salary, clean credit history, vanilla property, sensible loan-to-value – you may find your existing bank offers a competitive product and a smooth process. Some lenders also have exclusive deals for existing customers, or loyalty pricing that genuinely stacks up.
You might also prefer one point of contact inside an organisation you already use for current accounts and savings. Familiarity can reduce anxiety, and for some people that is worth more than shaving a fraction off the rate.
But here is the catch: you only know it is “competitive” if you have checked it against the market. Most people do not. They assume.
Where banks fall down (and borrowers pay the price)
Banks are not charities. Their job is to lend profitably, within their risk appetite, on their terms.
That creates three common problems.
First, you can be quietly pushed into what the bank wants to sell, not what is best for you. That might mean a longer fixed period than you need, or a product with chunky fees that look small when they are “added to the loan”.
Second, banks can be rigid on criteria. One lender might dislike overtime, another might ignore commission, another might hate new-build flats, and another might score your credit file harshly because you once had a late payment years ago. If you apply to the wrong bank first, you waste time and add stress – and if you rack up multiple applications, you can make the next lender more cautious.
Third, you do not get deal structure advice. A bank adviser will not typically look at the bigger picture: whether you should reduce the term to attack the balance faster, whether a slightly different product lets you overpay without penalty, or whether you should hold cash back for renovations rather than throw every penny at the deposit.
What a good broker does differently
A broker’s value is not “finding a rate”. It is helping you make a high-stakes decision with fewer blind spots.
A good broker will start by getting clear on your goal. Are you trying to buy sooner? Borrow more without pushing affordability into the red? Keep monthly payments stable? Pay the mortgage off faster? Avoid fees? There is no single right answer, but there is a right answer for you.
Then they match you to lenders based on real criteria – not marketing. That includes how different lenders treat bonuses, self-employed income, maternity leave, probation periods, gifted deposits, complex properties, and existing debts.
Finally, they manage the process. That means packaging the application properly, requesting the right documents upfront, handling queries, and chasing where necessary. You are still the borrower, but you are no longer alone trying to interpret cryptic emails from an underwriter.
Cost: “A broker is expensive” is often a myth
Some brokers charge a fee, some do not, and some do a mix depending on complexity. Banks do not usually charge you a “broker fee”, but that does not mean they are free. You still pay product fees, valuation fees, and the long-term cost of a less suitable mortgage.
The smarter question is not “Does a broker charge a fee?” It is “What is the total cost of this mortgage over the period I actually plan to keep it?”
A broker who helps you avoid a product with a huge fee, a punishing early repayment charge, or the wrong fixed term can save you far more than their fee. Equally, if your case is simple and your bank’s deal is genuinely strong, paying for advice you do not need may not be the best use of money.
Speed: who gets you to offer faster?
Borrowers love to believe the bank will be faster because you can walk into a branch. Reality is messier.
A bank can be quick if your case fits their system neatly and the lender’s pipeline is quiet. But if you are not a clean match, you can spend weeks discovering you were never getting approved.
A broker can often accelerate the outcome by steering you away from lenders likely to decline, and by submitting an application that answers the lender’s questions before they ask them. That is not magic. It is experience and preparation.
Speed also depends on the property. If the valuation throws up issues (construction type, cladding, short lease, down-valuation), the “fast lender” suddenly becomes the slow one. This is where having someone who has seen the pitfalls can stop you panicking and making a bad switch mid-process.
Choice: more options is good, but only if you can judge them
The whole point of using a broker is breadth – access to lots of lenders and lots of products.
But choice without judgement is just noise. A spreadsheet of 50 mortgages does not help you if you do not understand which fees matter, how long you will realistically keep the deal, or what happens if you need to overpay or move house.
The right comparison is not “lowest rate today”. It is “best deal for my plan, with the highest chance of approval, and the least chance of nasty surprises”. That is why broker advice is as much about decision-making as it is about sourcing.
Advice and protection: what you are really buying
In the UK, mortgage advice is regulated. That is a good thing. But there is a practical difference between being advised by someone tied to one lender and someone who can recommend from a wider range.
With a bank, the advice is limited by design. With a broker, the advice can be more impartial because the broker is not restricted to one set of products.
That does not mean every broker is brilliant. You still need someone who explains things in plain English, tells you the downsides, and is willing to say “No, that shiny deal is not for you.”
The “it depends” moments people forget
This decision is not purely philosophical. It often comes down to your situation.
If you are self-employed, have multiple income streams, or your latest accounts do not tell the full story, a broker is usually the safer route because lender interpretation varies massively.
If you are a first-time buyer with a small deposit, the margin for error is thin. One wrong application can waste weeks and put your purchase at risk. A broker can help you pick lenders that are realistic on affordability and deposit sources.
If you are remortgaging and want to borrow extra for home improvements, a broker can compare lenders that treat additional borrowing differently and can stress test affordability in advance.
If you have a genuinely simple case and a strong existing-customer offer from your bank, it can be sensible to compare it against the wider market and then still go with the bank if it wins.
How to choose without getting played
Do not start by asking, “Can you get me a mortgage?” Start by asking, “How do you decide which lender fits me?”
A bank will, by necessity, talk about their products. A broker should talk about your goals, your numbers, and your risks first.
Ask what happens if your chosen lender down-values the property. Ask what early repayment charges look like if you need to sell in three years. Ask whether the product lets you overpay meaningfully. Ask what the total cost is for the period you expect to keep the deal.
If you are hearing vague reassurance and not getting clear trade-offs, you are being sold to.
If you want a broker who will act like a borrower’s advocate – plain English, straight answers, and access across a wide lender panel – you can speak to the team at Mortgage Genius and get the facts before you commit.
A final thought: the best mortgage is the one that fits your life, not the one that looks clever on a comparison table. Choose the route that gives you clarity and control, and you will sleep better while everyone else is still guessing.
