A good mortgage broker will save you time, effort and money. To find a good broker, try asking friends and colleagues for their recommendations, visit several and check qualifications.

Since 31 st December 2002, all advisers providing mortgage advice and recommendation must hold either the Certificate in Mortgage Advice and Practice (CeMAP) or the Mortgage Advice Qualification.

A broker should take time to discuss your needs and circumstances. This gives them the opportunity to determine which type of mortgage is most suitable for you.

It is important that you ask at the outset if a broker is truly independent or tied to particular lenders. If they are tied, they will only give you access to the products and services from a limited range of lenders. If they are independent, however, there will be no restrictions.

You should also determine how the broker is paid. Some will charge you a fee, while others will receive a commission for the mortgages they sell from the lender.

The broker’s database will be constantly updated to include the latest deals on the market. If a broker handles a significant volume of business, they may have access to some exclusive mortgage products not available elsewhere.

If you choose a deal through a broker they will take you through the process, liaising with the lender on your behalf and helping you to complete the necessary paperwork.