It’s important to see a mortgage adviser at the start of your mortgage journey whether it’s your first mortgage or you're looking to re-mortgage. It will save you a lot of time and effort in the long run.
It’s good idea to speak to a few different firms to see what’s on offer and to compare fees.
There are two main types of mortgage advisers.
Mortgage advisers connected directly to lenders usually only recommend mortgages from that specific lender.
Mortgage brokers, or independent financial advisers, who can look at a range of mortgages from different lenders. Some might even check the whole market offering you a wider range of products.
It makes sense to choose a broker or adviser providing a ‘whole of market’ service. This means they can choose from the largest number of lenders and mortgages available.
However, even ‘whole of market’ advisers don’t cover everything and there are still some merits of going directly to the lender for your mortgage. Some lenders will have exclusive deals only available if you go to them directly which can help you avoid paying any up-front broker fees.
Firms offering mortgage advice must be regulated and authorised by the Financial Conduct Authority (FCA). Details of all regulated firms are held on the FCA’s Register.