Since October 2004, the selling of mortgages has been overseen by the city watchdog, the Financial Services Authority (the FSA), which means that consumers now get a 'Key Facts' document.

This document will set out, among other things, whether or not the seller is selecting a product from the whole of the market, or just selling their own product, and what level of commission they earn form selling you the mortgage.

In addition, if you asked for advice, the salesman is now supposed to take into account whether what he or she offered you was suitable for your needs.

The rules now mean that if you have an unresolved complaint, you can take it to the Financial Ombudsman Service (FOS). Also, the Financial Services Compensation Scheme has been extended to cover mortgages for the first time.

Unregulated Buy to Let