How to Apply for a Mortgage

Look at our website tools then call or enquire online

Before you make a mortgage enquiry you may want to have a look at our mortgage “Best Buy”` tables and the “Mortgage Finder” tool. These handy tools will give you an overview of what mortgage products are currently available.

You can then simply phone one of our advisers on 0800 151 2407 or 0121 308 9114. Alternatively complete the on-line enquiry form and an adviser will call you back.

Your initial consultation to discuss your requirements is free and you are under no obligation to proceed with any product we recommend.

We can often arrange face-to-face appointments in Mere Green, Four Oaks, Sutton Coldfield, Lichfield, Tamworth, Burton, Birmingham, Walsall, West Bromwich and many other surrounding areas of Staffordshire and the West Midlands. Alternatively we can make arrangements for you to visit our offices to discuss your requirements in more detail.

We gather information and search the market for you

Following your initial enquiry, as part of the mortgage process, we will arrange a suitable time to undertake a more comprehensive “Fact Find” with you. This can be done over the phone or face to face and will provide us with an opportunity to explain the different types of mortgages and rates available. The fact find will also help us obtain your mortgage preferences and any other information we need from you to recommend a mortgage.

At Caboodle we use the latest technology to search our comprehensive panel of lenders for the best mortgage deal to suit your circumstances and preferences.

We will recommend a mortgage for you…

Once the research is complete we will recommend a mortgage to you, the full details of which will be sent to you in a welcome pack so you can consider whether or not to go ahead. This pack will contain a Key Facts Illustration (KFI) and a formal application form for the mortgage we have selected. It will also detail what other information or documentation is required by Caboodle or your lender should you decide to go ahead.

Discuss your protection and insurance requirements

Once you have reviewed the mortgage details and decided to proceed, we will collect all the relevant documentation from you to submit to the lender.

During the fact find, in conjunction with the the new mortgage, we will discuss your insurance and protection needs to make sure your home, family and income are protected against any unforeseen events.

Process your application…

We will process your application from start to finish which will save you the time and hassle of having to deal direct with the various parties involved. We can instruct any valuation that is required and liaise with both the solicitor and lender to ensure things run smoothly.

Upon submission to the lender, any valuation or lender fees applicable to your mortgage may become payable.

We will keep in regular contact with you so you know what is happening with your mortgage application. You will also be given a dedicated contact here at Caboodle should you have any questions during the process.

We will obtain an offer from the lender for you, explain the terms and conditions and make sure it still meets with your requirements. A copy of the offer will also be sent to you and your solicitor.

Your mortgage completes….

On the date of completion, we will check that you are happy for the mortgage to be set up. The solicitor will request funds from your new lender and if applicable, forward them to your old lender to clear your existing mortgage. Any surplus monies will be sent direct to you after payment of our broker fee.

After completion we will contact you to ensure you were happy with our service and answer any questions you may have about the mortgage or protection products. If you need help with any wider issues such as pensions or investments we can introduce you to a suitably qualified adviser who will be able to assist.

We will keep in regular contact with you after your mortgage completes to make sure everything continues to meet with your satisfaction and we will undertake regular reviews to ensure you remain on the most competitive mortgage product.

The overall cost for comparison is 3.7% APRC. The actual rate available will depend upon your circumstances. Please ask for a personalised illustration.

Representative example: A capital and interest mortgage of £131,500 payable over 25 years initially on a fixed rate of 2.99% for 5 years and then a variable tracker rate at 3.49% above the Bank Base Rate (currently 0.25%) for the remaining term would require 60 monthly payments of £625.10 and 240 monthly payments of £668.70. The total amount payable would be £198,109 made up of the loan amount (£131,500), interest (£64,900), product fee (£999), broker fee (£595), final repayment charge (£80) & completion fee (£35). The overall cost for comparison is 3.7% APRC representative.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. CONSOLIDATING DEBTS MAY INCREASE THE TERM AND TOTAL AMOUNT PAYABLE.