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.