Availability of Mortgage Products Soars During 2021

Wednesday, January 26th, 2022

Twenty7Tec, a mortgage industry-leading research and sourcing platform recently released a report based on product availability via their system which suggested that the number of mortgage products had increased by a whopping seventy-four percent during 2021. **

This is undoubtedly great news for borrowers as it provides a wider choice of lender options for those looking to purchase or remortgage, which in turn is likely to result in more attractive and certainly less restricted product offerings.

Harness the Knowledge of a Mortgage Broker

Historically, to get access to a comprehensive range of the products available, many borrowers have chosen to use a professional mortgage broker with strong knowledge of each lenders’ detailed criteria in order to discount those that would go on to subsequently decline what in the first instance might seem to be a perfectly reasonable or straightforward application. 

This has been especially true during 2021, which can be best described as a bit of a ‘roller coaster’ year for the property and mortgage markets. Many prospective borrowers not only used the services of a mortgage broker to take advantage of a full advice and recommendation process, but they also did so with the expectation they would go on to secure a mortgage from a comprehensive panel of mortgage lenders which would be tailored to their individual circumstances.

Look Out for Hidden Criteria When You Do Your Own Research

Whilst it is true that some people will choose to do their own research or use a mortgage comparison site to guide them, this can be problematic. Information is provided on which lenders have the lowest rates and fees but given that each application will then be assessed separately, a prospective borrower is not able to determine beforehand whether a mortgage offer will materialise or be derailed by some hidden criteria.

Mortgage Brokers Help Set Realistic Targets

Whilst not everybody can always obtain the mortgage they need or desire, a quick and efficient indication from a mortgage broker such as Caboodle Finance can help prospective homeowners to set realistic targets.

We have helped many clients find a mortgage to purchase a new home, remortgage their existing home or purchase a Buy to Let property in instances where they had initially tried to do it themselves only be declined due to some intricate lending criteria. Some even missed out on the home of their dreams because of the delay that was involved.

To check out what our clients think of the first-class service they received from us, simply click our website testimonials link HERE.

Thereafter, if you would like some no-obligation mortgage advice, just contact our friendly team here at Caboodle Financial Services of Sutton Coldfield, Birmingham on 0121 308 9114, or, alternatively, just complete our web-based form by clicking HERE.

We look forward to hearing from you.

_{** Source – Mortgage Strategy (5 Jan 2022)}