If you have experienced a few credit problems in the past you’ll be needing what mortgage brokers call and adverse credit mortgage you might think of it as a poor credit mortgage.

Truth be known in a period of financial crises as we are experiencing in Manchester and the whole of Britain mortgages have become much harder to qualify for so you will need to utilize the skills of a good mortgage broker to find a deal just right for you.

Not many people realize this but there are actually two types of mortgage adviser you’ll find doing mortgages in Manchester they are what as known tied advisers (who work with one or a just a few mortgage lenders) the other type are known as independent mortgage advisers who can provide independent mortgage advice across the whole market place of mortgage lenders.

What ever reason you need a mortgage a mortgage broker will be able to find the best deals for you using software and their extensive knowledge of the market to place your mortgage with a lender which is not just prepared to lend to you at a competitive rate but also to make sure it’s a mortgage that will be suitable for many years to come.

But before you make a final decision which mortgage company you want to help you let me just give you a little bit of insider knowledge some mortgage companies will charge a fee for their services which may be as high as 1% of the loan value.

Some will charge a fixed fee based on the loan amount whilst others will charge no fee but will be paid a commission on the size of the mortgage. I can’t influence your decision but if the fee’s seem high it could pay you to shop around but don’t automatically assume a mortgage broker who doesn’t charge you a fee is actually offering the best value.

If a mortgage broker tells you he will charge a fee just to see if you are eligible for a mortgage and offers no guarantee that you will actually get one you are probably better of looking elsewhere a few years ago this was a common practice but thankfully due to stricter regulations this rarely if ever happens this day and age.