I'm currently with HSBC - they seem to have a much more flexible policy with regards to mortgage lending, than Royal Bank of Scotland, where I have another account.

Royal Bank of Scotland are still talking about lending on a 3.5 gross income figure, while HSBC are talking about affordability.

HSBC like me at the moment, and at present there's a very good chance I'll be making a mortgage application through them.

Question is, am I really shorting myself on options by not looking at mortgage brokers first? Am I really going to see real benefits from a mortgage broker?

You shouldn't limit your options to a single lender just because you're with them. Brokers exist for a reason, and that is to offer a better choice and range of deals. What HSBC can offer you may not be as good as what another lender may be able to offer you.

Watch out on getting greedy for your mortgage amount. Don't look at interest rates now and bear in mind that can double or triple if the economic conditions grow worse. Seen it before and its not pretty. You need to have plenty of room for repayments if interest rates increase and the banks know this which is why they have the traditional 3.75 figure. Low interest rates mean better affordability but also means people try to take bigger risks with borrowing.

Okay, so you I do agree.

Still, it's nice for one lender to say they like me, but I really should leave my options open on this - thanks for putting my head straight on applying for a mortgage.

I would just be careful of hidden fees with mortgage brokers. I had a bad experience 11 years ago. Do your due diligence. Make sure all fees are revealed up front,

Absolutely right - whatever you're buying, this is absolutely key. Never sign up to anything unless the fee structure is clearly stated upfront in the contract, and if you're uncertain, get a personal lawyer to check it over with you first. Never let anyone pressure you into a signing a contract without considering it first.

A lot of salespeople by nature want the quick clean sale, but if they tell you that there's an offer on that you'll lose if you hold off signing, just walk out of the door - they don't have your interests at heart, in my opinion.

Also check what their rules and regulations are regarding upping your interest...how often are their allowed to do this and with how high a maximum percentage?

That's a good pointer - thanks for the tip.

That is a great tip. This is why I'm a proponent of bigger more reputable mortgage companies. I'm sure there are some good brokers out there, but I believe you're much less likely to have "surprises" with a reputable company. This of course is just my opinion.

A mortgage is likely the biggest investment you'll ever make so you sure need to do plenty of research first. Do watch out for potentially hidden fees though this applies in any investment area.

I use the Halifax. Simply because the person who helped me sort out my mortgage thought they were the best provider at the point in time.

I shall be reviewing this shortly

Watch out for exist fees if you change...
http://www.propertywatch.org.uk/mort...llegal-63.html

I have a mate that is a mortgage broker. While I did not use her for my mortgage because she could not get me the cheapest rate, I still went to her for advice. There are a lot of terms in the contract that I didn't understand and she showed me how much money I would be paying that I hd no idea about.

I have a question I would like to pose to everyone. Why are banks so greedy? In the end, wouldn’t you think that a bank that was FOR the people will eventually win out due to the competitive nature of their business?

I would seriously advise you to consider going to an independent mortgage broker. This way they can source every mortgage from every lender in the UK at that present time (roughly 29,000 different mortgage deals) and find the right one for the individual. A fee shouldn’t be charged until you agree to take the mortgage up, it isn’t chargeable with me anyhow.