Mortgage brokers and comparison services

Overview

Comparison services and mortgage brokers can save time by aggregating rates and supporting the application, but they are usually paid by referral or lender marketing, so the ranking may favor participating products and exclude others. Ask which lenders are not included, and treat a ranking as a lead source rather than independent advice — then verify the actual offer with a dated quotation.

Fees and conflicts to check

Rankings may favor participating lenders and exclude others; ask which are excluded and verify with a dated quotation.

What to verify before you rely on it

In short: Often free to the borrower and paid by referral or lender marketing; Rankings may favor participating products; Ask which lenders are excluded from the comparison; Use as a lead source, not independent advice.

Whatever the category, establish three things before you rely on a provider: what kind of business it actually is (a licensed broker, a portal, a referral or media business, a manager, or an independent professional), how it is paid (by you, by the seller or lender, or through referral), and whether its advice is therefore independent of the transaction it is recommending. Ask for fees in writing, verify any licence and disciplinary record through the official registries, and treat a free service as one paid by someone else — usually an advertiser, a lender, or the seller. An English-language website tells you nothing about representation, so confirm whose interests the provider serves in your specific deal.