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Many people are worried about putting their money in the hands of a mortgage broker lest they turn out to be a cowboy – so make sure to check your mortgage broker's credentials before you trust them with your finances.

The first thing to ask a mortgage broker is whether they are properly regulated by the Financial Services Authority. Since 2004 anyone who offers mortgage advice has to be signed up with the Government regulator. Having FSA permission means that not only is your mortgage adviser fully qualified to offer mortgage adviser, but also they are under the glare of the Government should they try and take advantage of their clients.

Also, ask your mortgage adviser about how they are regulated and controlled. Essentially there are two types of mortgage adviser – those who make sure they abide by the rules themselves or those who are joined to a specialised network who does it for them. Both are perfectly valid ways to do mortgage business, but it is always good to check how their business is regulated and how it reports to the FSA.

You could also ask your mortgage adviser to show you some testimonials from past clients. Mortgage advisers are proud of the service they provide to people and if they have saved people money and have made their lives easier they will want to shout about it. Even though it's good to know that mortgage advisers are legally qualified, sometimes it's better to hear how good they are from real people like yourself.

A mortgage is the biggest financial decision you are every likely to make. It affects every facet of yours and our family's life so making sure the person who organises it is a good, honest adviser is crucial. Don't let a cowboy pull the wool over your eyes, get help from someone with credentials.

To keep up with the latest news and comments on the mortgage market please visit the Mortgage Broker Blog.