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Buying your first home

If your looking to buy your first house then it really can be a stressful time. Buying your first property in the UK is practically a minefield with the current loan to wages ratios and huge deposits required by the lenders.
If you are lucky enough to be in a position to be able to afford your first home then it is advisable to shop around and speak to a fully qualified mortgage advisor.
British financial advisers are regulated by the Financial Services Authority or FSA. This means that they have to give you the very best advice taking your needs into account.
Whilst Mortgage Brokers and financial advisers will receive a fee from the lender this does not mean that you are getting a worse deal. On the contrary they will sometimes have access to products that are not available on the High Street. Some advisers do charge a fee for their services though so it is worth your while to ask them up front if they do. According to FSA regulations though, they are obliged to present you with an Initial Disclosure Document on your first meeting. This document tells you whether they are truly independent or not and if they charge a fee. It will also state whether their fees are added to the loan or payable upfront.

Doing it Yourself

If your sure that you don’t want to use the service of a mortgage broker or advisor then there is the option of arranging your own mortgage. I would strongly recommend against this as lots of financial advisers offer a very honest, reliable service.
If you insist then you are better visiting some of the large High Street banks. Many of them have their own mortgage advisers, but obviously they are only recommending their own products. Places to try are – Halifax and Yorkshire Bank. Don’t sign anything until you have shopped around and compared all the lenders products.