Buying your first home is an exciting (if daunting) prospect. One question you might have is whether to use a mortgage broker or go directly to a lender/bank. We’ve put the two options head-to-head in eight key categories to find out whether or not it’s worth using a broker.
A mortgage broker acts as an intermediary between you and the provider of the loan, working on your behalf. Habito (which is part of Monzo) is an example of a whole-of-market, independent broker that scans a wide panel of lenders to find you the best deal. If you go straight to a lender or bank, you skip the comparison stage and only look at their products.
| Round | Broker/Adviser | Direct lender | Winner |
|---|---|---|---|
| Range of deals | “Full-market” brokers scan 90+ providers and also have access to deals that aren’t available by going direct. | Just their own deals. Occasionally these may only be available by going direct. | Brokers |
| Advice & support | Dedicated account handler. Phone, online and sometimes in-person support. Typically longer hours. | Dedicated account handler. Phone, online and sometimes in-person support. Typically 9-5 hours. | Draw |
| Complex cases | Brokers will aim to find a path forward for non-standard cases, and know which lenders can support. They’ll also look at schemes that could help. | Many banks have strict lending criteria so might not be suited to non-standard applicants. Specialist lenders do exist. | Brokers |
| Fees & costs | Many online brokers are fee-free – check first | Free | Draw |
| Impartiality | Independent and impartial unless “restricted” or tied to a particular lender | Won’t discuss deals from other providers | Brokers |
| Protection support | Can offer advice on protection from a range of insurers | May offer its own insurance products or products from a partner or limited panel | Brokers |
| Speed | Scanning the whole market and exploring options adds an extra dimension and realistically isn’t instant. | In theory going direct to your bank with no middleman can be quicker… but there are numerous caveats to be aware of. | Banks… narrowly! |
| Reviews & ratings | Generally high Trustpilot scores e.g Habito by Monzo (4.9), Mojo Mortgages (4.8) and Tembo (4.8). | While some major lenders do fare well on Trustpilot, as a group the biggest UK banks fall well short of the biggest UK brokers. | Brokers |
There are several whole-of-market mortgage brokers that compare deals across a comprehensive panel of lenders – Habito by Monzo, for example, looks at a panel of 95+ mortgage providers to find the best deals.
Meanwhile, if you go directly to a bank, you only have access to the deals they provide. So an advisor at a bank will help you pick the most suitable mortgage from their range, but won’t discuss mortgages from other providers.
Interestingly some mortgage providers, such as Aldermore or Kensington Mortgages, only deal with brokers – so you can’t go to them directly (and conversely one or two only deal directly with customers).
Winner: Brokers… hands down
Both brokers and lenders offer support for first-time buyers, guiding you through the process, typically with a dedicated account handler for any questions. You might find that brokers have slightly better hours outside of the typical Mon-Fri 9-5, giving them a slight edge, but both brokers and lenders are committed to fully supporting first-time buyers.
Winner: Draw
When it comes to non-standard mortgages or applicants, it can be useful for first-time buyers to use a broker rather than going straight to a bank. A broker has access to a wider range of products – and potentially different schemes and alternative solutions. So if your situation is more unique (such as variable income from multiple sources, adverse credit, or a low deposit) they will go the extra mile to suggest a suitable option with more flexible criteria. A good broker will know which lenders can support particular situations (and which can’t, or won’t).
Meanwhile, direct lenders will work with you IF they have a compatible mortgage product in their repertoire. Lloyds offers its £5k Deposit mortgage for those who don’t have a chunk deposit available, and NatWest offers its Family-Backed Mortgage so a family member can boost your borrowing power, for example. But major high street banks don’t have the best track record when it comes to non-standard cases, and often prefer to leave these to “specialist lenders”. They also tend to have the strictest lending criteria.
Winner: Brokers
Going straight to a lender for mortgage advice is free, and many online mortgage brokers are also free-to-use. This is because brokers typically receive commission from the lenders on referral, rather than charging their customers – meaning they can genuinely offer free mortgage advice. Examples of fee-free whole-of-market brokers include Habito by Monzo and L&C Mortgages.
Winner: Draw
High-street banks and mortgage providers won’t discuss other lenders with you so you’ll only see their deals. It can be easy to get caught in a loyalty trap. Therefore, if you’re looking to find the best deal on the market without any bias, using a broker is the clear choice due to the range of offers they consider when finding your mortgage deal. However, it’s important to seek out an independent, whole-of-market broker rather than one that’s “restricted” or tied to a particular lender.
Winner: Brokers
After securing a mortgage, first-time buyers might also want to consider protection, such as life cover, critical illness cover and income protection. A mortgage is a significant financial commitment so it can be worth looking at protection options to ensure you can keep up with mortgage repayments if something happens.
First-time buyers could consider a platform, like Habito by Monzo, that offers both a free mortgage advice service and expert, free-of-charge advice on protection cover options.
Winner: Brokers
Getting free, impartial advice from a broker and checking the whole market to find your mortgage is of course an investment of time. But you’ll typically get a dedicated case handler who kowns the process inside-out, can pre-empt problems and chase up the lender on your behalf if there are delays – winning back time.
Shopping around will almost always save money. You can do this for yourself or with help from a broker.
Going direct to a bank that perhaps you have an existing relationship with means one less layer. In theory that could wrap up the process sooner (though in reality, big banks don’t always have the best rep when it comes to moving fast).
Winner: Banks… narrowly!
As a group, the biggest UK brokers do outperform the biggest UK banks on Trustpilot. Habito by Monzo, for example, has a 4.9/5 rating from over 10,000 reviews (correct as of August 2026). Tembo and Mojo Mortgages score 4.8, while L&C Mortgages scores 4.6.
In fairness to banks, they are being evaluated on more than just their mortgage advice. But it may be that brokers depend on delivering good customer service for success… A bank can compete on rate, but full market brokers already have access to all the rates across the market, and so compete on experience.
Winner: Brokers
Our comparison found that, more often than not, it makes sense to use a broker. BUT our head-to-head is based on a good, free, impartial, full-market broker and a good, free, direct lender service.
There are legit (albeit fairly “edge”) cases where going direct to a bank is the right move. Lloyds, for example, doesn’t work with intermediaries. So if they happen to have the best rate on the market for your situation, and it’s a good mortgage product, and you can get approved, then that’s likely your best bet. If you live next door to a bank, and they’ve got really strong products and they do their mortgage advice and support in-branch and have decent opening hours, then that convenience does have a tangible value… But that’s a lot of If’s!
There’s no one-size-fits-all approach for first-time buyers looking to get a mortgage. You might have a lender in mind already, in which case it’s perfectly fine to skip the broker process and go direct. However, if you’re a first-time buyer looking to compare deals, look at specialist schemes, and better understand your position – then using a free online broker can be an incredibly helpful tool.
There is no major difference – both are terms used to describe a person or business qualified to give regulated mortgage advice and they can be used interchangeably. However, "advisor" is sometimes used for someone tied to a particular lender (e.g. an advice team at a bank), while "broker" usually implies access to deals across many lenders.
There’s no advantage in using your estate agent’s mortgage advisor – it’s better to do your own research. You should use the best mortgage advisor, rather than simply opting for the estate agent's mortgage advisor.
A mortgage broker should clearly state if you have to pay fees – and at which stage in the process they would apply. Some charge the customer, some receive commission from lenders, and some do both. Ask your mortgage broker at the start of the process if you are unsure if fees are involved.
It's optional, but some first-time buyers might want to consider it depending on their situation. You should assess income, savings, dependants, employer benefits and what would happen in the event the mortgage could no longer be paid. Before taking out any protection policy, it's important to compare options and consider eligibility, exclusions, waiting periods and affordability.
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The definition according to the UK government.
