You’ll need to use a mortgage adviser, or ‘broker’, to find products that suit your circumstances and help you to buy property.

Although most mortgage advisers will be happy to arrange an informal meeting without obligation, almost all of them will charge a fee for their services. Depending on the services you’d like to use, the fees then vary.  The good news is that this is all laid out in a document that’s been designed to make these fees easy to understand. It’s known as the ‘Keyfacts about our mortgage services’ document.  It will tell you:

• if they offer mortgages from the whole market, a limited range of lenders or a single lender;
• if they'll give you advice and a recommendation, or just ask you some questions to narrow down the selection of products they'll provide information on;
• if you'll have to pay a fee for their service; and
• if any or all of any upfront fee may be refundable.

Many mortgage advisers are paid a commission by the lender you choose, for recommending a product.  This is known as the ‘mortgage procuration fee’.  It could be anywhere from 0.25% up to 1% of the mortgage value or more.  If your adviser is independent, then he or she may give you an option to pay a fee for their services, which will be explained at your first meeting.

Use the mortgage adviser’s ‘Keyfacts’ document to shop around, to understand and compare charges and services provided.  You’ll be relying on someone to be a good communicator, and keep you in touch with every step of the purchase.  Using our search tools, you can find local advisers in your area – call them, and they’ll tell you which fee structure they use and the level of fees you’re likely to pay.