Q: I AM looking to purchase a property in the area. A friend suggested that I should also look into mortgages and mentioned Independent Mortgage Brokers but I thought it best just to deal with my own bank? What would a broker do for me that my bank wouldn’t?

Mr S Phelps, Bussage.

A: Firstly, I always recommend that you shop around when searching for the best mortgage deals. You can easily check what deals are available online via online mortgage comparison tables. However, don’t just look at the interest rates. Mortgages have a range of features and charges your need to consider.

My top five things to check when you compare are: The APR (Annual Percentage Rate), the end date for any fixed, capped or discounted rate, the frequency of interest charges, the flexibility of the mortgage and the maximum loan to value.

The option of talking directly to your bank is definitely worth exploring if you already have a mortgage with them. They may suggest an exclusive or attractive rate as a reward for your loyalty. However, bear in mind that most banks and building societies will only tell you about their own products.

In my opinion the benefits of using an independent broker who offers advice are greater than talking to your bank alone, as many have access to the ‘whole of the market’.

They will use their expertise to help you look beyond the interest rate and properly compare the overall cost and features of the mortgage. They may have access to exclusive deals with lenders. They may tell you about lender-direct deals – even if they can’t arrange them for you.

They will recommend a mortgage that is suitable for you based on a detailed fact find they carry out with you. Brokers tend to help you complete paperwork and progress the application process. Also if you buy based on a brokers advice, you have more rights if the mortgage turned out to be unsuitable for you then if you buy direct from a lender based on your own research or from a broker who only offers information and not recommendation.

Most estate agents have access to independent mortgage advisers, so feel free to either contact ourselves on 01453 751647 or any of the other local estate agents directly for recommendations.

Please continue to send your property related questions to: clive@sawyersestateagents.co.uk