WHAT IS A MORTGAGE?

A mortgage is a loan you take out to buy property. Most banks and building societies offer mortgages, as well as specialist mortgage lending companies. If you change lenders but don't move home it's referred to as a 're-mortgage'.

You can get a mortgage directly from the lender (banks, building societies and specialist mortgage lenders), or you can use a mortgage broker, such as 1st Call 4 Mortgages. You can buy a mortgage based on 'Information only' or obtain 'Advice and recommendation' on a mortgage that suits your particular needs.

'Information only' is usually available from the lenders themselves, such as the high street banks and building societies. This means they will only give you information of their own products and services. They cannot recommend other lenders' products.

1st Call 4 Mortgages provide 'Advice and a recommendation', but only after assessing your needs, taking into account your circumstances and your wishes. We do this by getting you to complete a confidential 'Fact-Find' and then we use our knowledge of the whole marketplace to apply that knowledge to your particular requirements. As in 'Independent' adviser, we can use any lender from a panel of lenders representing the whole of the mortgage market. We have no 'favourites' and chose the most suitable mortgage lender for your needs and circumstances.

When you buy with 'Advice', you have a right to expect us to recommend only products and services that are suitable for you.

If the recommended product or service is unsuitable for your specific needs and circumstances based on the information you provided, you can complain to us and expect compensation for any loss. For this very reason, we take the time to make sure we (1) obtain your information correctly, (2) to ensure the product and services we recommend are the most suitable ones for you, and that (3), we remain Compliant with our regulator, the Financial Services Authority. That way, everyone is happy!