Mortgage Advisors see Falling Rates as the Key to Increased Product Availability

Monday, September 25th, 2023

Recent weeks have seen a slow-down and eventually a turnaround in the constant rate rises and product withdrawals experienced in previous months, to the extent that the number of mortgage products available had doubled in the space of 12 months*

Positive Trends in Mortgage Rates

This improvement in product choice will be welcome news to those looking to remortgage or purchase, as will the recent trend of rate reductions by many lenders.

Factors Influencing Mortgage Rates

Given inflation has started to slow, there has been some more positive ‘pay growth data’ and a reduction in ‘swap rates’ has been seen, some mortgage industry experts and commentators believe that the base rate may have reached its peak. However, as the balance of the various components that influence mortgage rates remains precarious, small changes in any one of them could reverse this.

Buyer Caution in the Current Mortgage Market

It is no wonder then that with the mortgage and housing markets as they are, many prospective home buyers and home movers may be “sitting and waiting,” for a more prolonged period of positivity/increased level of confidence before committing themselves.

The Role of Mortgage Brokers

With the recent adverse changes to mortgage criteria and rates, some at noticeably short notice, many considering a mortgage for either a house purchase or to remortgage an existing property have engaged the services of a specialist mortgage broker. Those that do, can interpret the impact of any market fluctuations on their proposal and remain confident that their expert will recommend the best solution in all the circumstances.

Client Testimonials

With that in mind, to read what our clients think of the first-class service they receive from us, please click the link HERE to check out our testimonials page.

Get Tailored Mortgage Advice

Then, if you would like some no-obligation mortgage advice that can be tailored to your individual requirements, please call one of our expert mortgage advisers here at Caboodle Financial Services of Sutton Coldfield, Birmingham on 0121 308 9114. Alternatively, just click HERE to contact us via the form on our website and one of our friendly mortgage brokers will be in touch. We very much look forward to speaking with you.

*Source – Mortgage Strategy 12-09-23

The information contained above was correct at the time of publication but is subject to change.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Click here to view our data protection policy

Click here to view our Customer Privacy Notice

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. There will be a fee for secured loan advice and the exact fee will depend on your circumstances. The fee is only payable on completion and can normally be added to the loan. 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 and Wales 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.

© 2023 Caboodle Financial Services Ltd