Buying a house and arranging a mortgage are the biggest financial commitments most of us will make in our entire lives. It is therefore essential to choose the right mortgage or home loan and avoid paying over the odds.

Borrowers are spoilt for choice these days, with mortgages to suit every need: from first time buyers and remortgages, to the self-employed and even those with a bad credit history. The sheer variety of mortgages on offer can make the decision harder to make, especially in view of the busy lifestyles many of us lead today.

Independent financial advisers and mortgage brokers can save valuable time and money by sifting through the vast array of mortgage deals on offer. They can help ensure you pay the best interest rate on your mortgage, whether you opt for a long term or short term fixed rate, discount or variable rate mortgage.

The rise in more complex mortgages – such as all-in-one accounts and offset mortgages, which offset savings against borrowings – has also increased the need for independent advice. Likewise, financial advisers can take you through the fees and charges imposed by mortgage providers and guide you to the most efficient providers, which won’t hold up the house buying process with lengthy mortgage processing times.

It is worth remembering that some mortgage advisers are tied to certain lenders, so check if they are truly independent and have access to all UK mortgage providers before taking advice. It may also be worth checking if they cover all customer categories, in particular if you are looking for more specialised advice on, for example, overseas mortgages, equity release products or buy to let mortgage loans.

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