When it comes to buying property, then for the majority of us we will have to take out a mortgage.
Yet these days it can be bewildering as to where to start with such a large range of products available, particularly for the first time home buyer. You can choose Online IFA for the best independent financial advice.
For most people, it is the largest purchase they will have made in their lives so far. So it is very important to take time to get the right deal for you.
You also need to think carefully if taking out a mortgage with a partner, as you will also need to fund life insurance to ensure that should one of you die that the mortgage will be paid off.
Whilst you are likely to get advice from an Independent Financial Advisor (IFA), you need to be aware that they get paid commission for products they sell you, however, the law with regards to this has already gone through some changes with them now having to state how much money they will get paid for selling you each financial product they sell you.
It is likely that further changes may occur with regards to IFA's with the possibility of them just being paid a salary with no commission, this is following the massive payment protection insurance (PPI) miss-selling scandal, whereby PPI was sold to millions of people who did not want or even need it.