Do brokers make a difference?

[bubble55]

We applied for an AIP, succcesful, proceeded to mortgage application and were denied on my OH credit file (arrears 12m ago). We rang to query why we passed AIP and weren’t really given an answer but arrears are a straight decline.

Gone via a broker and struggling to find a lender at all. Eventually found a high st lender who will lend us less (we have the deposit needed) and we’ve passed credit check to get an AIP but how likely is it they’ll decline us at application again? Do you stand a better chance with a broker? Worried about wasting our time and paying broker fee just for a repeat situation.

A good broker is a whole of market one - and will have access to deals across the whole of the market. They will be able to sound out the financials and your chances before you need to actually apply - so minimising risk of credit score impact as a result of making multiple applications

so I would always prefer a broker

OP you 1000% need a broker!! Unless you were a totally 'vanilla' lender with a perfect credit history, I'd always go with a broker. They will assess your application against lending criteria and their knowledge and place you with the best lender.

Whilst the choice will be limited and likely more expensive, you can absolutely still get a mortgage with adverse credit history.

If you can find a mortgage and get accepted for it yourself, then no you don't need a broker. I needed one as I'm old, suffer anxiety, work full time and the sole person on the mortgage and that complicates things. The amount of work the broker did for their £99 was incredible and well worth it in my mind.