Mortgage Advisers

spursstu

Hi

What is the best way to get mortgage advice. I have heard that if you go to some advisers they are tied to some products and therefore you may not get the best deal, or get sold expensive insurance.

I'm an FTB and am new to all of this!!

Any advive would be really good.

Thanks

herbiesjp

You should look to an adviser that will be independent or at least offer a good whole of market selection.

As for the insurance, most lenders do not oblige borrowers to take any out (aprt form buildings normally) and then it does not have to be through the lender. In some cases insurances will be worthwhile, in other cases it will not.

luckyfool

As above, I wouldnt bother going direct to a bank or building society, use a broker with a panel of 25+ lenders to make sure that you are getting access to all the main deals. Also make sure they are not going to charge you a fee for arranging the mortgage, they are likely to receive a fee from the lender of between 0.35% and 0.5% which should be sufficient to cover their work for most transactions.