If you’re committed to finding the best re-mortgage option for your needs, logic suggests that you want to shop around as widely as you can in order to find the best-value loan available.
In which case, it doesn’t make sense to just go to your bank.
I’m sure your bank will have some good mortgages, hopefully, but it is high odds that – out of some 8,000 mortgages on the market at any one time – it will have the best product for you.
The reason is that banks, apart from one relatively unsuccessful experiment which has been almost completely wound up, only sell products from their own range. Which may mean just 20 loans, or less.
If you are unusual in terms of your needs – for example because you have an income but are not employed, or you have a poor credit history - it is unlikely that it will be able to help as effectively as a mortgage broker.
By all means go and talk to your bank. But be prepared to shop around as well.
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