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I asked very similar questions few months back before I decided to take the whole house hunting thing easier due a couple of possible changes end of this year.
I think my collective findings from folks here and others I have spoken to is that some lenders won't deal with you directly, only a broker, and some brokers have their perferences that might not be the best value for your money, and good ones don't always charge. In fact, a lot of folks here have used good ones who don't charge.
The one I very nearly went with offers a full package so if there is any delay, issues, the deal ends up going soul etc etc, he'd deal with it, his company also offers lawyers and all other contacts as well as buyer's protection insurance (I didn't actually what it is) etc etc, and I think the typical charge for him is £450 depending on the price of the property.
@WjPrince's dad is an advisor and he is nice... both father and son :-)
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We used one and it was worth it I'd say. We just told him that another broker was charging half and giving us the same deal so he just price matched him.
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If you're a simple case, which first time buyers often are, just use a whole of market, fee free broker like London & Country.
If you're self-employed or it's complicated in other ways it might be worth it but that's £300 you don't need to pay. A broker who charges can't get you a better deal than a broker who doesn't if they're both whole of market.
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@ReekBlefs
Afternoon my well-housed chums.
Is using a mortgage broker worth it for a first time buyer? This guy is charging £300 to broker the mortgage and I've no idea wtf I'm doing or whether that's good. What say you, bicycle hivemind?