How do you source your BTL mortgage?

[TKL]

Hi there

A few years ago, there was only a handful of BTL mortgages on the market. It got me wondering, is it more important to use a broker now that there is a variety of BTL products out there, or was it more important then, when they were more obscure and hard to find?

What do you guys think, do you always go direct or source a mortgage yourselves? What about other services a broker might offer, like investment advice or conveyancing?

Cheers

[QuestForFreedom]

I always use these guys and have found there comparisson site very good. http://www.arlamortgages.co.uk/

[JamesHopeful]

A much higher proportion of BTL mortgages (as opposed to residential mortgages) are offered on an intermediaries-only basis (two of the biggest BTL lenders – The Mortgage Works and Birmingham Midshires – lend exclusively via intermediaries), so for this reason alone it’s pretty much essential to use a broker. Also the different lending criteria can be rather arcane, but a decent mortgage broker should be able to take the stress of worrying about that completely off your hands.

Regarding receiving other advice, in general I would rather use a mortgage broker for my mortgage, a decent conveyancing solicitors’ firm for my conveyancing, etc. etc. as opposed to a jack of all trades. If estate agents, mortgage brokers etc. say that they have their own conveyancers or financial advisers, all it usually means is that they will benefit from a kickback for having referred you, and you may well end up with an overpriced substandard service.

[andy1967]

I always use these guys and have found there comparisson site very good. http://www.arlamortgages.co.uk/

Seems like a referrers site - if you read the small print - with everyone paying the other one a fee

[QuestForFreedom]

Most importantly I didn't have to pay a fee and they have a very good selection of products. Staff on the phones also knowledgeable.