How to get good mortgage advice
Buying a house is an expensive project, and likely to be one of the biggest financial commitments you'll ever make in your life.
It can also be a complicated task - especially when it comes to choosing and arranging your finances to fund your house purchase.
There is a host of information available for you to do some research of your own.
But it is easy to become confused by the many different products and rates on the market, so speaking to an expert can help to identify the right mortgage for you.
Types of advice
The whole landscape of how people access and pay for financial advice has been changing over the past few years, and is set to change further in the near future.
At the moment, you can choose from three different types of adviser to help you find a mortgage.
With a tied
adviser, you are literally tied to one lender, so you are not seeing the full choice of products available in the market, while with a multi-tied adviser, you are simply seeing a limited range of mortgages.
An independent adviser, on the other hand, can scour the whole of the mortgage market range - without any financial ties to any one company.
The definition of independence is currently under review.
But in order to get the best possible advice you need to differentiate between a mortgage adviser that calls itself independent for mortgages (IMA) and a whole-of-market IFA for both mortgages and all other product areas (mortgage IFA).
The former offers independent, whole-of-market mortgage advice, but does not have to offer the same choice of advice on other product areas.
IFAs can offer whole-of-market advice across these financial product areas