Buyers benefit from advisor aid through 'mortgage maze'

30-May-2008

The services of mortgage advisers are an invaluable aid for first-time buyers attempting to navigate a "bewildering" market place, it has been suggested.

Peter Williams, the executive director of the Intermediary Mortgage Lenders Association (IMLA), pointed out that mortgages used to be the domain of building societies.

He also noted that limited availability of funds often meant home loans were "rationed" to buyers.

The growth of the mortgage adviser and the emergence of the specialist lender "changed everything", he continued.

"Consumers for their part have benefited greatly from the myriad of products available to them, and from the expert and independent advice provided by intermediaries who guide them through this bewildering market place," he concluded.

According to the IMLA, brokers play a particularly important role in the current economic climate and "still substantial" choice of products on offer in what they deem to be a mortgage maze.

Research by Alliance and Leicester revealed earlier this month that more people are making use of brokers for first mortgage advice in the face of media coverage of the credit crunch and economic uncertainty.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need.

Best mortgage deals found with independent advice More mortgage advice sought amid economic concerns

2012: Feb | Jan

2011: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2010: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2009: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2008: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar