Who should i go to when arranging a mortgage

Dollymix12

We are looking to move home soon and our house is currently up for sale. With regards to the new mortgage is it best to go to the bank I have a current account with or go to a mortgage broker? I keep getting different advice from family members so thought I would ask opinions here

betmunch

Go to a broker and take details of your current mortgage, they will advise you if its best to stick or move

amnblog

Ask friends for a broker recommendation.

Debtslayer

Use an Independant whole of market broker, not one based in Estate Agents

Malmo

I'd always recommend an independent whole of market broker (not based or recommended by an estate agent), unless you have a "vanilla" straightforward case and are prepared to thoroughly research the entire market yourself. I'd never assume my current lender is the only OR best option for my circumstances going forward.

Dollymix12

Thanks, that's what I thought although we were just going to use the one from the estate agent as she searches for properties on our behalf etc as part of her service. Will try and find an independent advisor

Thrugelmir

Do you currently have a "good" mortgage deal? One that's worth porting to the new property.

Dollymix12

I let my fixed rate lapse as fixing it again was going to be more expensive and I knew we were going to look at moving soon,so probably not the best deal to move with us

Bennifred

I've always had good advice from London and Country when it comes to mortgages.

MortgageMamma

Dollymix, be very careful of using an estate agent mortgage adviser. They are usually not "truly whole of market" which means the work from a panel of lenders representative of the whole of market. The panel can be as few as 10 lenders. What you want is a broker who has access to EVERYTHING. Not tied to a panel at all, that way you should get the most competitive deal. You should also ask your broker to check out the existing customer deals with your current lender and compare those to moving to another lender.

Don't be afraid to pay a small fee, good advice now could save you thousands in years to come.

MM

Dollymix12

Thanks for the advice all, it's very helpful