Overview

The mortgage advice market is basically split into three sectors:

The Advice Market

Independent Advisers (IFA) or Directly Authorised

These act as 'whole of market' advisers who will offer you advice or information from the whole of the mortgage market.

Independent Advisers who belong to a network

These can offer 'whole of market' or often 'whole of market' from a panel of lenders.  They will often declare that the offer whole of market but in reality only offer products from a panel that is considered whole of market!

Tied advisers

These may offer you advice from a select few or even just one lender and cannot offer you whole of market advice although they will usually operate from a panel of lenders (typically 25 lenders) and are then considered whole of market advisers.

Advice or Information Only

All companies will offer you one of two services:

Advice & Recommendation

If you are provided with advice & recommendation it means that an adviser will initially establish your needs usually by completing a financial review.  The advantage of this type of service is that you will be provided with a recommendation based on your circumstances in an attempt to provide you with the correct type of mortgage.  The adviser is responsible for making the correct recommendation to suit your needs.

Information Only

Often offered by lending institutions whereby they will be telling you about their own mortgage products.  They provide you with the information allowing you to make an informed choice.  The disadvantage of this type of service is that you have limited recourse if things go wrong.

In simple terms, you can go to a supermarket and choose from a wide range of baked beans or you can go to a corner shop and have the choice of one brand.

Feel free to call us if you would like to discuss your options. We are completely Independent and offer mortgage advice from the whole of the market.

Call Now: 0844 357 4429 or Mobile: 0788 0727 493

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