Mortgage brokers have access and knowledge of the entire mortgage market
Banks only sell their products.
Brokers can advise which lenders will consider your application and which will not based on your individual circumstances. If you have a poor credit rating, brokers have access to lenders that specialize in servicing people with adverse credit.
Banks have to follow their policy on lending.
Mortgage Brokers can also access exclusive deals not available on the the open market, or negotiate a better interest rate or lower apllication fees from lenders in some cases. Mortgage brokers also have the luxury of going to trust companies or credit unions, intstead of just banks.
Bank mortgage lenders work for the bank
Mortgage brokers work on your behalf
Mortgage brokers often get better rates
Mortgage brokers work with self employed people
Your mortgage will be held with a financial institute