Who Needs a Mortgage Broker!

Although the above statement is arguably correct and reflects the valid opinion of many people, this line of thought could very easily leave you thousands of pounds out of pocket. If you are paying just £20 a month in unnecessary interest, over 25 years you will have spent £6,000 that could have stayed in your bank account.

It is fair to say that mortgages are a fairly technical product, as there are a variety of different mortgage types like tracker, fixed, variable rate etc. But in addition to this variety of mortgage types there are also different setup fees, interest rates, early repayment penalties and the list goes on. This is all further complicated because products that are available today may not be tomorrow.

The point being made is that when you buy a mortgage product there is a massive selection of products to choose from. Each product will bring different advantages with it and you should not narrow your choice before knowing your options. Talking to just your bank or one lender is like buying a new car, but only visiting a Ford garage. There is nothing wrong with this, but it is sensible to look at other manufactures before making a decision!

The easiest way to know your mortgage options is by using a whole of market, independent mortgage adviser. Many of them will offer a fee free service where they get paid by the lender for placing the mortgage, which means they get paid without charging you for their advice.

This article is not intended and does not in any way provide advice. If you require professional Independent, whole of market mortgage advice you must speak to a qualified mortgage broker.