Home owners using brokers to seek out best mortgage deals, poll suggests

Despite almost record levels of mortgage product affordability, savvy home buyers are still searching for the best deals with 46% opting for a mortgage broker instead of going direct to a bank or other lender. Of those that opted for a broker, some 65% used a whole of market broker in order to get the very best deals available on the market but 30% didn��t know if the broker they used was whole of market, according to new research. The survey report from One77 Mortgages suggests that this means that they could have missed out on the best deals available to them. It also says that while home buyers may be more switched on when it comes to the best rate for their financial position, the majority are choosing to ignore other vital aspects when obtaining a mortgage that could see them in financial difficulty further down the line. Just 35% opted for life insurance via their broker, while even less, some 26%, opted for critical illness insurance, and just 13% of those asked stated they had taken out building and content insurance, with the majority again choosing not to.