Sue Anderson, the body's spokesperson, pointed to comparative tables and online resources from commercial providers as useful tools.
"Knowing the product range that is out there is obviously important for borrowers so that they can assess whether the person who is advising them is pushing them towards a product that looks suitable for them within the range available," she explained.
"Shopping around is always important, particularly so when the range of choice is narrowing, as it is at the moment."
Recent research by the CML claimed that many homeowners are moving away from fixed-rate mortgages and are becoming more attracted to tracker deals.
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