Mortgage Advisors

LML123

Hi,

I am just looking for some advice on how to find a mortgage advisor and if its best to see an independent advisor or go to someone aligned to a bank or building society.

My partner already has a mortgage and I do not so we would like some advice on how this will affect you getting a joint mortgage and also what type of mortgage would be best for us....

Any guidance on where to start or who to approach would be great

Thanks

Jimbo1976

The important thing is to realise that if you go to a bank or a building society, they will only sell you a mortgage from their own range whereas an independent adviser will sell you a mortgage from a variety of lenders.

An independent adviser will charge you a fee but will give back any commission (mortgage brokers call this a procuration fee rebate), they will typically refer you to a very wide range of lenders. If the lender allows brokers to introduce mortgages to them they may be able to process your mortgage for you, if the lender does not accept business from mortgage brokers (eg HSBC) sometimes they will point you towards the lender. It is difficult to be truly independent as how does a broker know if HSBC is really the best lender for your mortgage if it does not deal with brokers. Typically a broker will have much better understanding of the lenders which allow it to introduce business to them.

A whole of market broker will typically deal with all of the intermediary lenders and will have a very strong grasp of their criteria,timescales etc and some of them do not charge a fee.

A good place to look is on a website call www.unbiased.co.uk

Good luck

Wh05apk

Jimbo1976 wrote: »

A good place to look is on a website call www.unbiased.co.uk

Good luck

Unbiased is no different to yell or any other listing site, they are effectively paid for listings, and do not qualify any listings.

Your best source is speak to friends/family etc, and see who they have used, failing that Google is probably as good as any other listing.