Mst of u have been thr bfor, looking t buy a new hom.
Can you picture th sitution now? You see a ht n the estate agents window, and yu np n for a closer lk. As soon a th agents knw ou're lking t buy a proprty, the will ffer to set u a meeting with their mortgage advisor. You feel like you re being railroaded nt using ther servies, ou now bliv that these mortgag advisors re the best in th business. The mortgag deals elsewhere aren't wrth th paper that they have been written n nd f u go anywhere else fr your mortgage then u will be filing for bankrutcy within 3 months. Does tht sound famlar? While it an be an great dea to tke on th servces of a mrtgge dvisor, it's b no means compulsory. Advir will either harge a fee in which case th should b offring you totll impartial advice or the wll be on commission. Th does mean the re likel t try and steer ou towards certin roducts n the interest of earnng themselves a bnu. A broker an ntermedary who wll help u to find the bt mortgage deal fr ur nd and circumstancs. Tho who subscrib t the Mrtgage Cd are bound to dislose information about the servces they are prviding, nludng: Whether thy r ndeendent, or tied to a prticulr organiation What commssons, if any, the will receive Wht level of service and advce they can provde Yu can request a lit f lcal indndnt mortgag brokers from The Mortgage Code Register f Intrmdiaris check www.cml.org.uk for detals. Indeendent Finnil Advisors can also act as intermediarie some specialise in mortgages. Make ur to find ut whether your broker charge a fee befre you agree to ue thm, and how much it will cost. Nrmally the shuld only charge you on ou hav fund a mortgg and hd ur application acceted. Using a broker an make the proess f finding and chsing a mrtgage much eaier yu give them information about what u r looking for and yur finances, nd they an d th hard work. Because brokers have exerience f th field and a gd awareness of current market trends, they cn ften give good advie to borrowers. They als wll have access t a vast rng of products that you may struggle to find ourself mortgges frm th mller providers, fr example, may not be promnently advertised. Indpndnt brokers earn mone by selling u products they m suggest additinal insurane policies fr example. Yu are not requred to take u these offer, and be wre that th brokr is receiving commissions fr selling you policis. However, if you are looking for extra insurance fr exmple repament protection to cover your mortgage payments t my be easiest t lt the broker find you a policy t the same tim as ur mortgage.