Trying to find the best mortgage products these days can be a tiresome task; do you go into the Bank, consult an Independent Mortgage Adviser, look at best buys tables or trawl the Internet or a combination of them all?
In this article we can look at each of these options in more detail to help you work out how to get the best mortgage for you.
Most mortgage advisers that are employed by banks are what’s known as ‘’tied advisers’’ and can only advise you on mortgage products on offer from that one bank, if the banks products are not competitive then you will not get the cheapest mortgage.
These are often seen in the weekend papers such as Mail on Sunday and the products listed are sometimes from lenders that pay to have the products in the newspaper, again no guarantee that these products will suit you.
Many of the sites on the internet do not have all of the available products on offer from lenders and there may be no advice offered.
You would think that by using an Independent Mortgage adviser that they would be able to research all of the products on offer from all of the above, this is not always the case!
Some mortgage lenders have decided to offer cheaper products to members of the public directly and not allow advisers to apply for them on behalf of a client, this has meant that some mortgage advisers have decided not to recommend these products at all to their clients.