Two thirds of the nations mortgages are sold through advisers rather than directly by the lenders, I read yesterday. And such advisers typically earn 30%-50% of their income from mortgage advice
I cannot make up my mind whether this news makes me want to hold my head in my hands or should be just taken as a sensible division of labour.
Why waste your own time trying to make comprehensive comparisons, not just of headline interest rates, but of detailed terms & conditions & availability, when others specialise in knowing all this stuff?
On the other hand a mortgage adviser must tend to be biased towards selling you a mortgage rather than not, & however small, this bias must increase the number of unwise, unserviceable deals entered into
And it must make quite a substantial addition to the overall costs of housing
Related post: House prices
