Mortgage intermediaries 'can help access the best products'

Mortgage intermediaries play an important role in helping buyers through the house buying process, it has been claimed.

Commenting after Defaqto reported an increase in the number of direct-only mortgage products available in the UK, Kevin Bray, insight analyst for banking at the firm, noted that third parties can play an important role in helping consumers access cheaper mortgages.

He commented: "The steady growth in direct only products over the last two years has clearly placed mortgage brokers at a disadvantage but it also leaves consumers with a difficult choice to make.

"Do they seek the advice of a mortgage intermediary or do they do their own research and approach the provider directly?"

Mr Bray said brokers can help consumers make the best decision, providing they explain the full range of options available to each individual.

Last week, the British Bankers' Association reported a five per cent rise in mortgage approvals for March 2010, when 34,095 loans were agreed.

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2010-05-04 13:50:38 © Moneyextra.com