Choosing the right mortgage is difficult - use a broker!

Choosing the right mortgage can be a difficult task.  Many people are swayed by the marketing leading and highly promoted incentive interest rates.  But actually, when you add on any lender fees, along with any valuation costs and look at the true cost over a period of time, these can sometimes prove to be more expensive.

Of course, this is the beauty of using a mortgage broker.  They will have access to many lenders that you have probably never heard of and products that are not usually visible to the public eye.  There is so much information readily available and over 11,000 mortgage products to choose from, but key information can get lost in translation.  Therefore seek advice.  Yes, it may cost you a small fee to have someone research the market on your behalf and make recommendations, having assessed your short to long term needs and requirements.  However, the broker will stand by their recommendation and, more importantly, it could save you thousands in the long run, versus choosing the wrong products yourself, usually from a single provider.

In addition, any professional will seek to build a long term relationship with you and contact you at the time your current rate is coming up for renewal to ensure you have access to the best rates available at all times.

This also goes for the Solicitors where they are needed to act for both yourself and the lender in a mortgage transaction.  Remember that on some re-mortgage products the lender will cover the cost of standard legal work and valuations.  HOWEVER, this is not always the best or cheapest option.  These can be slow, depending on the volumes received by the lender and sometimes it's better to pay the extra amount to get the job done quicker.

There are a huge number of legal firms in both local and more regional areas.  Prices vary from company to company and you can decide exactly who to deal with (assuming they are acceptable to the mortgage lender).  Shop around before committing and as with everything, make sure you read the small print!