In the past many people looking to take out home loans have gone through mortgage brokers in order to get the finance that they need, often because this has been the most convenient, hassle free, and sometimes the most affordable way of finding the right mortgage or home loan.

However, over the past couple of years the mortgage and financial markets have changed radically, with profound effects stemming from the global financial crisis and recession. This has had a huge impact on the way that people take out home loans and has had a particular effect on the number of people that go through a broker to get their home loan.

Recent research has shown that mortgage brokers in the UK are now often unable to access some of the best deals on the market, with many lenders reserving these deals for customers that go directly through them rather than through an intermediary.

The figures suggest that mortgage brokers are now accountable for only 10 percent of home loans, with the other 90 percent of the best mortgages only available directly through lenders. Prior to the global financial crisis mortgage brokers were accountable for around 70 percent of home loans that were sold, reflecting how the mortgage market has changed over the past couple of years.

One leading High Street bank, HSBC, stated: ‘The research shows just how much the mortgage market has changed over the last two years. With loans available from brokers failing to beat direct lenders’ lowest deals for over 90% of that time, customers can no longer rely on brokers to get them the best deal in town.’

An official involved in the research added: ‘Anyone using a mortgage broker needs to be aware that the range of products available may be limited.’