UK Money News
22nd May 2008
AMI: Save over £1,000 by using intermediary
Borrowers who opt to seek professional advice from an intermediary before taking out a home loan can make significant savings, it has been claimed.
According to the new Value of Mortgage Advice report conducted by the Association of Mortgage Intermediaries (AMI), choosing this approach rather than talking to lenders can cut bills by as much as £1,830 annually.
The AMI calculated the figure after looking at the average difference between the cost of a standard variable rate product, which are most often offered by lenders, and fixed rate deals, which are typically favoured by advisers.
Chris Cummings, director general of the AMI, said: "Intermediaries are able to identify the most suitable product for the consumer at a competitive price.
"Analysis of consumer attitudes shows they value this advice much higher than that provided by lenders. And in these difficult times it is more important than ever for consumers to access good financial advice."
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