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  • Writer's pictureMatthew Pigrome

Execution Only vs. Broker Advice: Making Informed Choices for Your Mortgage Transfer

When it comes to renewing your mortgage, you have two main options: taking an execution-only product transfer directly from your existing lender or seeking advice and recommendations from a mortgage broker like Mortgage321. Both choices have their advantages and disadvantages.

In this guide, we'll walk you through the key factors to consider when deciding which route to take, ensuring you make an informed decision that best suits your financial goals.

Execution Only Product Transfer:


  1. Familiarity and Convenience: Staying with your current lender can be convenient, as they already have your financial history and details on file, which may speed up the process.

  2. Reduced Costs: Execution-only product transfers may have lower associated fees compared to seeking advice from a broker, potentially saving you money in the short term.

  3. Time-Saving: If you're confident in your mortgage knowledge and have a clear preference, an execution-only transfer can be a quicker option.


  1. Limited Choice: You are limited to the products offered by your existing lender, potentially missing out on better deals available elsewhere in the market.

  2. No Independent Advice: You won't benefit from the expertise and market insights a mortgage broker can provide, potentially leading to a less favourable mortgage choice.

  3. Risk of Overpaying: Without professional advice, you may not fully understand the terms and conditions of your new mortgage, leading to potential overpayment in the long run.

Mortgage Broker Advice:


  1. Access to the Entire Market: Mortgage brokers have access to a wide range of lenders and products, ensuring you get the best mortgage deal tailored to your specific needs.

  2. Independent Expertise: Brokers provide professional advice, helping you navigate complex mortgage terms and conditions, potentially saving you money in the long term.

  3. Time and Stress Savings: Brokers handle the paperwork, negotiations, and communication with lenders, reducing the stress and time involved in the process.


  1. Cost: Mortgage broker services typically come with fees, although these are often offset by the potential savings they can secure on your behalf.

  2. Additional Steps: Engaging a broker may involve additional steps and paperwork compared to an execution-only transfer.


The choice between an execution-only product transfer and seeking advice from a mortgage broker depends on your financial situation, knowledge, and preferences. While execution-only transfers may offer convenience and lower immediate costs, broker advice can provide access to a wider range of products, potential long-term savings, and peace of mind knowing you've made an informed decision.

At Mortgage321, we specialise in providing expert mortgage advice tailored to your unique circumstances. Contact us today to explore your mortgage renewal options and discover how we can help you make the right choice for your financial future.


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