Mortgage Brokers See a Surge in Activity as Mortgage Rates Rise

Wednesday, July 27th, 2022

Since the beginning of 2022 mortgage rates have risen steadily in most sectors of the market.

More recently, many lenders have struggled to cope with an increase in demand and in some cases, service levels have suffered notwithstanding the wide variety of products on offer.

‘Stick or Twist’ In An Ever Changing Mortgage Market?

With the market remaining changeable on a day-to-day basis, many homeowners are turning to mortgage brokers to get advice and assistance as to what their options may be.

The spectre of rate rises coupled with increases in the cost-of-living has prompted many homeowners to review current mortgage arrangements ahead of schedule, in some cases well before the end of their current fixed rate period, with many borrowers considering paying their lenders’ early repayment charge to secure as they see it, a better fixed rate. In simple terms, they need advice and guidance on whether they should ‘stick or twist.’

Escalating Interest Rates – A New Experience For Many

Whilst many homeowners will not have experienced the prospect of escalating interest rates, for those that have, securing a longer-term fixed rate as soon as possible is usually the starting point.

Clearly many factors are taken into consideration when a mortgage broker makes a recommendation to a customer, but in the current environment the customer’s opinion, beliefs, and concerns will rank alongside the hard data.

With all that in mind, when combining the differing criteria, affordability calculations and potential for urgency, it is no wonder that homeowners seek independent advice.

A Mortgage Broker With Their Finger On The Pulse

A professional and experienced mortgage broker will have their ‘finger on the pulse’ in relation to these most recent changes and will therefore be well placed to advise as to what may be the best course of action in all the circumstances.

Our specialist mortgage team here at Caboodle Financial Services of Sutton Coldfield, Birmingham prides itself on delivering a first-class service. Click this link HERE to check out what our clients say.

To join them and get access to some no-obligation mortgage advice, just call 0121 308 9114 to speak with one of the friendly experts, or alternatively complete the form on our website by clicking HERE and we will be in touch to discuss your individual requirements.

We look forward to hearing 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.

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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.

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