Could “Brexit” benefit those re-mortgaging?

Thursday, July 21st, 2016

As a consequence of the recent EU referendum, and following on from comments made by Mark Carney, the Governor of the Bank of England, regarding a potential cut to Bank Base Rate over the summer, many industry commentators are now urging mortgage brokers to ensure that any clients or prospective clients are fully informed of any post “Brexit” re-mortgaging opportunities that arise.

Mortgage borrowers could benefit from re-mortgaging.

In addition, many lenders are actively re-pricing these offerings in order to secure their business volumes which could further indicate that many existing mortgage borrowers could benefit from re-mortgaging sooner rather than later. Consequently, given the very competitive rate environment that is now predicted in the months ahead, mortgage brokers are being encouraged to contact any clients who are currently paying interest at the lenders’ “Standard Variable Rate” mainly because it is they who could potentially make the greatest savings.

When initially reviewing their own mortgage requirements, consumers themselves are also being encouraged to use the services of a specialist mortgage broker such as Caboodle Finance of Sutton Coldfield to help ensure they get access to a wide range of lenders with the aim of securing what would be the best and most suitable mortgage deal available to them.

Not only will a qualified mortgage broker be able to give advice on the best deal that is available in all the circumstances, but they will also be able to advise on the suitability of term alterations and even the possibility of raising additional capital, too.

Given the decision to exit the EU, many clients could be feeling nervous about the direction our economy may take once the terms applicable to that exit become clearer. Nevertheless, and despite those very understandable concerns, there are a number of key areas where the advice given by a mortgage broker such as Caboodle Finance, Birmingham could be “worth its weight in gold” as the re-mortgage market remains incredibly competitive and is likely to become even more so if and/or when any of the muted cuts to the Bank Base Rate become a reality.

Are you considering re-mortgaging?

In short, your preferred mortgage broker should be able to access multiple lenders and re-mortgage products and be able to provide you with a great service, so feel free to check out what our clients say about us HERE!  If you would like to experience our first class service too, just call Caboodle Finance of Sutton Coldfield, Birmingham  today on 0121 308 9114 and we will be delighted to hear from you.

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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.

Your initial consultation is free and you are under no obligation to proceed with a mortgage we recommend. There will be a fee for mortgage advice. The exact fee will depend on your circumstances and may be reduced depending on the loan amount and any commission we receive from the lender. It is estimated that the fee will be £595, but it may range from £495 to 1% of the amount you borrow. The fee is only payable on completion and can normally be added to the mortgage. This will be discussed and agreed with you before you make an application. Please ask for a personalised illustration.

Secured loan rates from 3.95% APRC, although we have plans available up to 29.9% APRC which allow us to assist customers with the most severe credit problems. The overall cost for comparison is 7.65% APRC. For secured loans a broker fee up to 10% of the loan amount borrowed may be payable on successful completion. A lender fee may also apply. The actual APRC available will depend on your circumstances. All loans are subject to status. Please ask for a personalised illustration.

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

Caboodle Financial Services Ltd, registered in England at SQ2 House, 240b Lichfield Road, Four Oaks, Sutton Coldfield, West Midlands B74 2UD (number 08044670).
Caboodle Financial Services Ltd is an appointed representative of PRIMIS Mortgage Network (PRIMIS), a trading name of Advance Mortgage Funding Ltd which is authorised and regulated by the Financial Conduct Authority. PRIMIS is only responsible for the service and quality of advice provided to you in relation to mortgages, protection insurance and general insurance products. Any other product or service offered by Caboodle Financial Services Ltd may not be the responsibility of PRIMIS and may also not be subject to regulation by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some forms of Buy to Let.

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