The gap between mortgage affordability for men and women is at its smallest since the financial crisis, figures from eMoov have shown.
More than half (55 per cent) of UK consumers do not realise mortgage brokers can offer more product choice than banks or building societies, according to Legal and General.
The statistic is published in a report by L&G’s Mortgage Club showing the misconceptions buyers have when it comes to securing a mortgage and the role advisers can play in helping them to find better deals.
Entitled Mortgage Myths – Value of a Mortgage Broker, the report reveals nearly half (48 per cent) of homeowners and prospective buyers who did not use a broker chose not to do so because they felt their bank or building society offered them a good deal.
Meanwhile, 15 per cent thought they would get a cheaper mortgage by going direct, and almost one in five (19 per cent) ‘didn’t see the value’ a broker would add to their hunt for a home loan.