Buy to let mortgage-do i use broker?

Cornucopia

The problem with BTL is that you can "find" lots of mortgages - but need a broker to make the application, because that's how the lender works.

Having said that, I've arranged my own BTL in the past without any difficulty.

What concerns me more about this market is the often very large arrangement fees. What is a lender doing to justify a 2.5% fee, compared to the one next door who charges nothing?

ACG

They dont have to justify the fee - its part of the overall product - usually by charging a higher fee they can offer a lower rate but this isnt best for everyone. Its down to them to make a product which is competitive in the market place, if nobody goes for it they will have to review it.

It seems strange that a broker cant get you a rate better than you can get direct, there are some really good BTL rates at the minute that are only available via brokers, but i suppose it depends on the overall situation.