Getting a mortgage is a really big deal and it can be so hard to know what to go for. The difference can be thousands of pounds a year, so it’s really important that you get the right option for you. So many people make the mistake of just going into their ordinary bank or building society, the same one that they have their current account with. But in fact, that’s going to mean that you lose out potentially because they won’t be able to offer you any special treatment just because you’re an existing customer. You need to go through the same affordability checks as any other customer.
So it’s worth looking far wider when you’re hunting for the best mortgage deal. It’s definitely worth speaking to your bank or building society to see what deal they can give you. But you need to look at other options, too.
The same applies to your estate agent. They might have an advisor in-branch that can help you get a mortgage deal but it might not be the best one. It’s better to speak to an independent advisor who will be able to search the whole market for you. And then recommend options that are going to mean you pay less over time and also help you budget.
Of course, now it’s incredibly easy to go online and compare mortgages yourself. You’ll be able to check for affordability, see what it’s likely to cost you a month, and really make an informed decision about which is the best option for you. You can compare mortgage deals and check your affordability on money.co.uk. So that can be a great place to start even if you then decide to go and speak to a broker to see what help they can give you too.