WHICH ADVISER? Why use a Mortgage Adviser? One of the principal reasons for using a Mortgage Adviser is the protection you get from strict guidelines laid down by the Financial Services Authority (FSA) and the Office of Fair Trading with whom the Adviser must be registered by Law The Adviser has to give you advice in writing, and is not only bound by FSA Compliance Practices & Procedures, but must hold Professional Indemnity Insurance too Other reasons might be that the Adviser is up to date with products, law, legislation, and the Industry in general. The Adviser can probably better any rate you might obtain yourself whilst doing all of the "donkey work" for you. Why not do it yourself? If you were to source a mortgage yourself you would have no legal protection against bad advice should it not prove the best mortgage for you. You would have to do all of the work yourself and bear the costs involved for all letters, phone calls, photocopying, postage and so on as well as the inherent frustrations Yes, but can I get a better deal by going direct to the Lender? Rarely unless approaching your existing lender for a "top-up". Lenders package products for Advisers and Brokers which are usually unavailable to the General Public. An Adviser or Broker can often get a better rate than an individual because they have the bulk negotiating power of an entire Network or Mortgage Club behind them
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