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Who Needs a Mortgage Broker!

Who needs a mortgage broker, all they do is borrow your watch to tell you what the time is. The data base of mortgage lenders and products that they have access to is no different from what you or I could find out for ourselves. Anyway my bank is really help full and the adviser there will bend over backwards to help me.

Although the above statement is arguably correct and reflects the valid opinion of many people, this line of thought could very easily leave you thousands of pounds out of pocket. If you are paying just 20 a month in unnecessary interest, over 25 years you will have spent 6,000 that could have stayed in your bank account.

It is fair to say that mortgages are a fairly technical product, as there are a variety of different mortgage types like tracker, fixed, variable rate etc. But in addition to this variety of mortgage types there are also different setup fees, interest rates, early repayment penalties and the list goes on. This is all further complicated because products that are available today may not be tomorrow.

The point being made is that when you buy a mortgage product there is a massive selection of products to choose from. Each product will bring different advantages with it and you should not narrow your choice before knowing your options. Talking to just your bank or one lender is like buying a new car, but only visiting a Ford garage. There is nothing wrong with this, but it is sensible to look at other manufactures before making a decision!

The easiest way to know your mortgage options is by using a whole of market, independent mortgage adviser. Many of them will offer a fee free service where they get paid by the lender for placing the mortgage, which means they get paid without charging you for their advice.

This article is not intended and does not in any way provide advice. If you require professional IndependentComputer Technology Articles, whole of market mortgage advice you must speak to a qualified mortgage broker.

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ABOUT THE AUTHOR is a directory of mortgage brokers throughout the UK... Find your local Mortgage Broker in our directory of mortgage brokers, which includes Mortgage Advisor Manchester, Mortgage Advisor Sheffield and all other UK regions.

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