Buying guide
Mortgage brokers vs banks: what’s best for you?
The pros and cons of working with a mortgage broker vs a bank
AI summary
Deciding between your bank and a mortgage broker is a crucial step for home buyers. While banks offer convenience and potential loyalty perks, you are limited to their products.
Mortgage brokers are typically free for borrowers, as lenders pay their commission. They compare deals from multiple lenders to find the best fit, saving you time and offering expert advice—especially useful for self-employed or complex applicants.
Always vet a broker by asking about their lender range and commission structure.
What we’ll cover:
Getting a mortgage through your bank
Pros:
Cons:
Is it worth getting a mortgage broker?
What does a mortgage broker do?
Pros:
Cons:
Tips for getting the most out of a mortgage Broker
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