Tuesday, February 24th, 2015
The mortgage industry has been through significant regulatory change over the last couple of years, with one of the main focuses of the Regulator being on consumers getting appropriate mortgage advice.
Many high street lenders only offer mortgage advice on their own restricted range of products whereas using a mortgage broker such as Caboodle Finance, from Sutton Coldfield in Birmingham, will mean you can be given advice from a comprehensive panel of lenders which will normally be representative of the whole mortgage market.
Since the regulatory changes were implemented, the focus has been firmly placed on the mortgage advice customers receive and many more mortgage lenders are recognising the work brokers and intermediaries do and the importance of their role in the market. In recognition of the way the regulation has changed the way mortgage advice is given, more mortgage lenders are starting to distribute their products through the intermediary market meaning that many more of the best mortgage deals will be available by seeking advice from a mortgage broker.
HSBC, TSB, The Post Office and Tesco are the most recent companies to offer their product range through intermediaries as they look to increase their market share by using this distribution channel. This is all good news for people looking for a mortgage whether they are looking to purchase a new property, remortgage an existing property or to raise money on a Buy to Let property.
The addition of these and other lenders to the panel of many mortgage brokers is likely to mean that they have the choice of around 40-50 lenders across the market when providing mortgage advice and recommending which mortgage is the most suitable to meet the needs and requirements of the individual customer.
The majority of mortgage brokers will charge a fee for their mortgage advice and services, although the expertise they provide and the outcome that can be achieved in terms of the competitive nature of the mortgage they can source will often recoup the fee many times over during the term of the mortgage.
Many brokers will not only source and process the mortgage on behalf of the customer they will also liaise with the other third parties involved in the transaction such as estate agents, solicitors and surveyors, thus taking a great deal of the strain out of what can sometimes be a stressful time for many people.
Does that sound like the sort of bespoke service you’ve been looking for?
Call Sutton Coldfield’s very own Caboodle Finance today on 0121 308 9114 or click HERE to contact us by email to find out more.
Caboodle Financial Services Ltd
Mere Green House
46-48 Mere Green Road
West Midlands B75 5BT
Telephone: 0121 308 9114