another mortgage question

luckybert

Had a mortgage with my ex partner but we have split. She has remortgaged and i have now a chunk to put down against a new property of my own. My job is ok and my deposit is around 30% of the house price I;m looking at.

I have been out of the mortgage game for a while but fancy a tracker this time having had a fixed rate for so long.

Where should I go first? Is all the advice independant if so I guess it doesn't matter?

kingstreet

If you go to a bank, you will be offered only that bank's products.

An estate agent may have an adviser. Many work to a restricted panel of only a few lenders. Some offer whole of market services. They may charge a fee, take commission or sometimes both.

Whole of market and independent brokers will be able to access all the mortgage deals and will offer you a choice of payment options. You'll be able to pay them a fee, have them take a commission from the lender, or a combination where you pay a fee and they refund any commission they get to you.

Each one must provide you with a guide called an Initial Disclosure Document which shows if they are tied, panel or whole market/independent. You will be told if they offer advice on the best deal for you or only provide information on which you are expected to choose.

Finally, the IDD explains the remuneration options I mentioned and the regulatory issues such as complaints and compensation facilities.