Save Money By Using A Broker
May 23rd, 2008 by 
Guy
Borrowers could save more than £1,8oo per annum if they went direct to a mortgage broker instead of going direct to a mortgage lender, according to the Association of Mortgage Intermediaries.
This figure reflects the difference between the average cost of SVR (standard variable rate) offered by mortgage lenders, compared to a fixed rate product, which is the most preffered choice offered by mortgage brokers.
According to the Association of Mortgage Intermediaries , the average yearly saving achieved from getting a mortgage through a mortgage broker is £962 per year. With just under 1.4 million intermediary mortgage transactions in the 2006/07 financial year, the savings that brokers acheived for their clients amounts to between £1bn and £1.3bn per annum.
Chris Calder, spokesperson of AMI, said: Brokers are still able to identify the most suitable products for their customers at a competitive price. Independent research suggests mortgage intermediaries could save consumers upto £1,830 per year compared with going direct to their high street lenders. In these difficult conditions at present it is even more important than ever for consumers to get good financial advice.
Posted in Mortgage news | 