Mortgage Advice Could be Crucial During Coronavirus Crisis

Monday, April 27th, 2020

As part of the financial rescue package offered by the Government in the wake of the coronavirus pandemic, a mortgage payment holiday could be just the thing to help many thousands of people in what will be a very difficult period financially over the coming months.

Thankfully the majority of mortgage lenders have played their part in making access to this facility as easy as possible, albeit some were experiencing 10-hour telephone queues in the days immediately after the announcement as they worked with restricted staff numbers.

The mortgage payment holiday – get professional advice

However, there are certain things to be aware of before applying for the payment holiday and Caboodle Finance has been discussing the situation with their clients and providing mortgage advice to make sure each customer gets the best possible outcome based on their own personal circumstances.

Things to be aware of

For example, there may be restrictions or barriers for those wishing to take out or transfer to a new mortgage product with their existing lender and for those who were already in arrears. To ensure that mortgage customers attain the most beneficial outcome to meet their priorities, some sound mortgage advice from an expert broker could be “just the ticket”.

Finding the best option for you

Also, those coming to the end of a fixed rate deal may not know what the best option is when securing a new product, how long to fix it for and whether their existing lender is still the best option for them. Again, a knowledgeable mortgage broker will be able to provide valuable mortgage advice at a time when many lenders are restricting products, tightening criteria, or even temporarily withdrawing from the market altogether.

Get specialist advice

Our specialist team work extremely hard to ensure that our clients get the best possible mortgage in all the circumstances. With that in mind, if you want to see what some of our many clients think of us, and the first-class service they say we provide, check out our many testimonials by clicking the link HERE.

Then, if during this very difficult time you would like some mortgage advice tailored for you, please call one of our friendly expert advisors in complete confidence here at Caboodle Finance of Sutton Coldfield, Birmingham today on 0121 308 9114 or alternatively click HERE to contact us via the website and we will be delighted to do our very best to help you!

And, of course, in the meantime, please stay very safe!

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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 Mere Green House, 46-48 Mere Green Road, Sutton Coldfield, West Midlands B75 5BT (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.

© 2020 Caboodle Financial Services Ltd