Glasgow mortgage broker: 5 things to ask your adviser (plus 5 more smart questions)

House-hunting in Glasgow moves fast, tenement flats go to closing dates, new-builds spring up along the Clyde, and lenders can be fussy about construction types. The right adviser makes the difference between a confident offer and a costly misstep. If you’re comparing a Glasgow mortgage broker, 5 things to ask your adviser should top your list. And once you’ve covered the essentials, there are a few extra questions that can save you time, stress, and money.

What’s the difference between a mortgage broker and a mortgage adviser?

In the UK, “mortgage broker” and “mortgage adviser” are used interchangeably. Both give regulated mortgage advice and handle applications. Many hold CeMAP (Certificate in Mortgage Advice and Practice) and must be authorised by the Financial Conduct Authority (FCA).

The big distinction to watch is scope. A whole-of-market broker can access a broad panel of lenders (including smaller building societies and niche options), while a tied or restricted adviser only recommends from a limited list. A bank or building society adviser will typically only offer their employer’s products. For most Glasgow buyers, wider access = better odds of the right fit at the right price.

The best questions to ask your mortgage broker

Start with the five fundamentals, regulation, fees, suitable mortgage type, lender access, and deposit strategy, then move to affordability, rates, restrictions, support with the process, and documentation. The answers should be clear, written down, and tailored to your situation (first-time buyer in Dennistoun? Upsizer in Bearsden? New-build near Braehead?).

1. Are you regulated?

Ask for their FCA firm reference number and check the Financial Services Register. You’re looking for authorised status to advise on and arrange mortgages, a clear complaints process, and confirmation of the protections that come with regulated advice. Request their Initial Disclosure Document (IDD) or similar, it should set out who they act for, their scope (whole-of-market or restricted), and how they’re paid. If they can’t provide this promptly, walk away.

2. How much do you charge?

Good brokers are upfront about fees. Clarify:

• How they’re paid: client fee, lender commission (procuration fee), or both.
• The amount and when it’s due: on application, on offer, or on completion.
• Whether it’s fixed or percentage-based, and if it’s refundable if a purchase falls through.
• Any extras for complex cases (new-builds, adverse credit, self-employed, buy-to-let).

You’re not just buying a rate, you’re buying expertise and time. But you should still know the exact cost before you commit.

3. What’s the best type of mortgage for me?

Your adviser should explain the pros and cons of fixed, tracker, and variable rates based on your goals, budget, and risk tolerance.

• Fixed rate: payment certainty for a set period: usually ERCs if you exit early.
• Tracker: follows the Bank of England base rate: may include caps/collars.
• Discount/variable: moves with the lender’s rate: flexibility varies.

In a city where “offers over” can stretch budgets, many buyers prefer the certainty of a fix. But if you plan to overpay aggressively or expect income changes, the flexibility of a different structure could win. Ask for a side-by-side illustration of payments now and at higher stress-test rates.

4. How many lenders can you access?

You want whole-of-market or as close as possible. That can include high-street names and regional building societies who understand Scottish properties (think older sandstone tenements or flats above commercial units). Ask for:

• A clear statement of their lender panel and any exclusions.
• Whether they can place complex cases (contractors, newly self-employed, visas).
• Examples of recent Glasgow placements similar to yours.

More choice doesn’t guarantee approval, but it massively improves your chances of a competitive fit.

5. How do I need to save to buy my home?

This is about deposit strategy and total buying costs. Your broker should map out:

• Deposit expectations: many lenders start from 5–10% for residential purchases, but rates and criteria improve as deposits grow.
• Glasgow realities: “offers over” can lead to paying above the valuation, you’ll need cash to bridge that gap because lenders usually lend against the valuation, not the purchase price.
• Other costs: solicitor/conveyancing fees, valuation/arrangement fees, moving costs, and LBTT (Scotland’s equivalent of stamp duty) with potential first-time buyer relief, check current thresholds.
• Ways to boost your pot: Lifetime ISA (subject to eligibility and property price caps), budgeting, and timelines.

Ask for a savings plan with milestones and a realistic target date for mortgage readiness.

6. How much can I borrow?

Affordability isn’t just a simple income multiple. Lenders assess your income, credit profile, outgoings (loans, credit cards, childcare), dependants, and future rate stress-tests. In Scotland, factors like factoring/maintenance costs for tenements can also be considered as ongoing commitments.

Ask your adviser to:

• Produce an Agreement in Principle (AIP) early, so you can note interest confidently.
• Model scenarios: base case, higher-rate stress test, and a buffer for “offers over.”
• Highlight any lender quirks, for example, how they treat overtime, variable pay, or contractor day rates.

A realistic borrowing range reduces the risk of a down-valuation derailment later.

7. What is the mortgage interest rate, and will this change?

Rates come with two clocks: the initial deal period and what happens after. Make sure you understand:

• The initial rate and length (e.g., 2 or 5 years), and how your payments look at today’s and higher rates.
• The reversion rate (usually the lender’s SVR) and your plan before you get there, product transfer or remortgage.
• For trackers, how base rate changes feed through and whether there are caps or collars.
• Any fees that change the true cost: arrangement, valuation, cashback, and their impact on APRC.

Your broker should put the headline rate in context of total cost and flexibility, not just what’s cheapest today.

8. Are there any restrictions on my mortgage?

Every deal has small print. Ask about:

• Early Repayment Charges (ERCs) and overpayment limits.
• Porting (taking your deal to a new property) and how portable it is in practice.
• Property criteria: max LTV on flats, new-build requirements, above-commercial restrictions, non-standard construction, or cladding/EWS1 expectations for certain blocks.
• Letting restrictions (if your plans might change) and consent-to-let.

Glasgow’s housing stock is varied, your adviser should flag any lender sensitivities before you pay for valuations.

9. Can you help me with other aspects of the house-buying process?

A strong broker is a project manager as much as a rate-hunter. Ask if they’ll:

• Coordinate with your Scottish solicitor on Home Reports, missives, and timelines.
• Arrange or advise on protection (life, critical illness, income protection) and buildings/contents insurance, often required by lenders.
• Handle valuations and liaise with developers on new-builds (incentives, long-stop dates).
• Keep your case moving: chasing underwriters, clarifying conditions, and updating you clearly.

You want someone who’ll fight your corner from AIP to keys in hand.

10. What documentation do I need, and how long will it take to get my mortgage approved?

Lenders differ, but expect to provide:

• ID and proof of address.
• Income: payslips and P60 (employed), SA302s/tax calculations and accounts (self‑employed), or contract/day-rate evidence (contractors).
• Bank statements (typically 3 months).
• Deposit evidence (savings history, gifted deposit letter, sale proceeds).
• Details of debts, childcare, and commitments.

Typical timelines: an AIP can be same-day: full application to offer often takes 1–4 weeks depending on underwriting and valuation access. New-builds and complex cases may take longer. Your Glasgow mortgage broker should give you a written timeline, a document checklist, and a plan for any likely lender queries.

Get expert mortgage advice

Choosing a Glasgow mortgage broker isn’t about the flashiest headline rate: it’s about clarity, access, and advocacy. Prioritise FCA regulation, transparent fees, whole-of-market reach, and advice that reflects how homes are bought in Scotland. Ask the ten questions above, get the answers in writing, and make sure they feel like a partner, not just a middle‑person. Do that, and you’ll be well placed to budget confidently, offer decisively, and move in without surprises.

Glasgow Mortgage Broker: Frequently Asked Questions

What are the 5 things to ask your adviser when choosing a Glasgow mortgage broker?

Start with five fundamentals: FCA regulation (ask for the firm reference and IDD), clear fees, the most suitable mortgage type, whole‑of‑market lender access, and your deposit strategy and total buying costs. Get tailored answers in writing so you know exactly what you’ll pay, borrow, and how the process works.

How many lenders should a Glasgow mortgage broker access, and why does whole‑of‑market matter?

A whole‑of‑market Glasgow mortgage broker can approach high‑street lenders plus regional building societies that understand tenements, new‑builds and above‑commercial flats. This widens criteria and pricing options, especially for contractors or self‑employed borrowers. Ask for their lender panel, any exclusions, and recent local cases similar to yours to gauge real access.

How do ‘offers over’ in Glasgow affect my deposit and LBTT budget?

In Scotland, lenders usually lend against the Home Report valuation, not the agreed ‘offers over’ price. If you pay above valuation, you’ll need cash for that gap. Budget for LBTT (with possible first‑time buyer relief), solicitor, valuation and moving costs. Your adviser can map a savings plan and target date.

Can I use a Lifetime ISA to buy in Glasgow, and what are the limits?

Yes—if you’re a first‑time buyer purchasing a property up to £450,000. A Lifetime ISA adds a 25% government bonus to up to £4,000 of annual contributions, but the account must be open 12+ months. Funds are used via your solicitor. Early or non‑qualifying withdrawals incur a penalty.

Is a local Glasgow mortgage broker better than going direct to a bank?

A local Glasgow mortgage broker often beats going direct to a bank because they combine whole‑of‑market access with Scottish process know‑how (Home Reports, missives, LBTT). Banks typically offer only their own products. Direct can suit very simple cases or loyalty deals, but compare total cost, flexibility and service.

Will a Scottish Home Report valuation or EWS1 impact my mortgage approval?

Yes. In Scotland the Home Report valuation underpins lending; if your price exceeds it, you must fund the difference. For certain flats, lenders may require an EWS1 form to assess cladding risk, which can affect LTV or eligibility. A Glasgow mortgage broker can pre‑vet lenders to avoid dead‑ends.