A mortgage broker can save you a lot of the time and stress involved in getting a mortgage.

Here, independent mortgage broker John Charcol explains the value of a good broker.

What is a mortgage broker?

A mortgage broker, or adviser, is someone who holds their CeMAP and is therefore qualified to give financial advice and recommendations on someone’s personal financial situation.

A mortgage adviser will review the possible mortgages available to you, looking at what would suit your individual circumstances and future needs.

Generally, there are three different classes of mortgage brokers regulated by the Financial Conduct Authority (FCA) and each will offer a different range of deals.

These include:

–        Whole of market brokers – these offer access to the entire mortgage market to find the best products available

–        Multi-tied brokers – these offer a limited range of mortgages from a panel of mortgage lenders

–        Tied brokers – these offer mortgage products that are available from a single lender