Press releases

Thousands could be missing out on a better mortgage deal by not speaking to an adviser

Thousands of borrowers could be missing out on a better deal by not speaking to a mortgage adviser when looking for a mortgage, research from Legal & General Mortgage Club has found.

4 Jun 2019

Press release (PDF 319KB)

The survey of over 2,000 UK homeowners revealed that nearly a third (31%) of consumers who went direct to a lender didn’t understand how a mortgage adviser could help with their search.

The findings also showed that more than two-thirds (69%) of borrowers who went straight to a lender hadn’t remortgaged in the last five years and nearly three-quarters (74%) stayed put because they felt they had ‘a good deal’. However, without seeking mortgage advice, these individuals would have missed out on the thousands of extra mortgages deals that are only available through a mortgage adviser.

Kevin Roberts, Director, Legal & General Mortgage Club: "The figures speak for themselves. Those who used a mortgage adviser when they took out their last mortgage would overwhelmingly recommend their family and friends to seek independent, professional advice."