Finding your Mortgage
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Questions to ask UK Mortgage Brokers

Here are some useful questions to ask a UK Mortgage Broker before taking him / her on.

· How long have you been in business for?

· Are you and/or your firm authorised by the FSA?

· What qualifications do you have? (See Mortgage Broker qualifications)

· Are you a tied, multi-tied or independent mortgage broker?

· Do you have a few references I can call, i.e. former clients?

· Are you insured against giving bad advice?

· How do you want to be paid? Fees or commission or both?

Don’t only judge your Mortgage Broker by what they say, but how they respond to your questions. Is it openly and directly? Or do you have difficulty getting a straight answer?

Any good Mortgage Broker should come across as responsive, available, straightforward and honest.

The Keyfacts and Initial Disclosure Documents

The new mortgage rules mean the brokers now have to automatically give you more information.

You will recognise the Initial Disclosure Document by the words ‘about our mortgage services’ and the ‘keyfacts’ logo

The Initial Disclosure Document gives you the key facts about the firm in five numbered sections:

1. The firm must tell you that the Financial Services Authority (FSA) regulates financial services.

2. It must explain whose mortgages the firm offers.

3. It must reveal what service the firm will provide.

4. It must state what you will have to pay for the service.

5. It must explain whether the firm will refund a fee in any circumstances.

The other major document you should get from your mortgage broker is the Key Facts Illustration (KFI).

When recommending a mortgage to you, the Mortgage Broker has to outline why they are recommending this - using the Key Facts Illustration (KFI).

The KFI document will include detailed information about the recommended mortgage, tell you about the level of service they are offering, and how much their fee or any commission will be.

To read more on this subject please see the list below or your mortgage guide or your home buying guide

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More About UK Mortgage Brokers

What Type Of Mortgage Advisers / Brokers Are There?

Which Type of Mortgage Broker Is Best For You?

How Do I Find A Mortgage Broker?

What Do They Charge?

Paying Fees Versus Commission

Questions To Ask Your Mortgage Broker

The Keyfacts and Initial Disclosure Documents

Mortgage Broker Qualifications

Who Regulates Mortgage Brokers?

How To Check Up On A Mortgage Broker

Complaining About Mortgage Brokers

The new regulations – an overview

Read On about How to Find your Mortgage

Going direct

Going through a Mortgage Broker

Going through an IFA

Going through an Estate Agent

Going through other websites

The Mortgage Code

Read On / Mortgage Guide

Choosing Your Mortgage

Types of UK Mortgages

Remortgaging

Where to Get Your Mortgage

Getting Mortgages in Principle

Costs of UK Mortgages

Mortgages TIPS

Calculators

ALL UK Mortgage Types

Read On

Guide to Buying Home in the UK

Guide to UK Home and Mortgage Insurance

Life Insurance Guide

Glossary of UK Mortgage Terms

Mortgage News

Finding your Mortgage

Going direct

Going through a Mortgage adviser

Going through an IFA

Going through a Mortgage Broker

Going through an Estate Agent

Going through other websites

The Mortgage Code

Your Mortgage TOP TIPS

How to get a Mortgage