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Loan refunds: Brokers provide 'better knowledge' of mortgages available

Those seeking out mortgages could get a "better knowledge" of products available than going direct to a lender, which may be of interest to those seeking loan refunds.

Andy Pratt, chief operating officer at independent mortgage advisor Alexander Hall, claims that brokers will compare and contrast different mortgages and they will be able to explain how these products will change over time.

He said: "Consumers that have taken out a mortgage via a broker will largely have a better knowledge of what is likely to happen across the period of their mortgage than somebody who just buys direct.

"The difference is fundamentally the explanation of the different products on the market and the advice."

His comments follow research by, published on February 21st, which revealed that the UK's largest lenders offer roughly three quarters of all the mortgage deals on the market.

However, it found that these lenders only provide just over a quarter of the best mortgages currently available.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.

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