Wednesday, November 25th, 2020
With mortgage rates, lender criteria, loan to value (LTV) availability and affordability assessments changing on an almost daily basis, it is highly likely that some customers would benefit from the assistance of a professional mortgage broker, like ourselves here at Caboodle Finance, to help secure their new mortgage.
In our experience, many prospective borrowers are struggling firstly, to secure a mortgage product that offers the LTV they need, and secondly, to meet some of the more recent affordability criteria.
In most instances, the main factor that influences the amount of mortgage available is the income of the applicant(s) and as lenders take a more cautious approach regarding Furlough, variable income (such as overtime and bonuses) and income from self-employment, it can mean that the amount of borrowing available to some customers will be significantly lower than it was earlier in the year.
In addition, as mortgage lenders reduce their appetite to risk by restricting LTV percentages, the availability of the more highly geared mortgages (with LTVs of 85%, 90%, and 95%) has significantly reduced in recent months.
Combining these key factors has led to a significant reduction in mortgage product availability. When further combined with a recent trend of rate increases, it becomes clear why some people are struggling to secure their desired mortgage.
As a mortgage broker that uses a comprehensive panel of providers, the experienced advisers at Caboodle Finance are able to shop around on behalf of prospective customers to locate the mortgage amount required, at the desired LTV and at the lowest overall cost. Furthermore, this can all be done from one enquiry, irrespective of how many lenders are considered for the mortgage required, as the mortgage adviser will use their knowledge and experience to focus on those lenders most likely to offer what is needed.
The specialist team at Caboodle Finance works extremely hard to ensure our clients get the best possible mortgage for their individual circumstances. Check out our testimonials by clicking the link HERE to see what some of our clients think of the first-class service we provide.
For those individuals with specific mortgage requirements in what continues to be a very dynamic environment, the assistance of a professional expert broker can prove crucial, thereby potentially saving a client a significant amount of time and effort in locating the product that is right for them. Here at Caboodle Finance, of Sutton Coldfield, Birmingham we seek to do just that.
So, if during these challenging times you would like some tailored mortgage advice, please call our friendly team today on 0121 308 9114 or, alternatively, just complete our web-based form by clicking HERE.
We very much look forward to hearing from you, but in the meantime please stay safe!
Caboodle Financial Services Ltd
Mere Green House
46-48 Mere Green Road
West Midlands B75 5BT
Telephone: 0121 308 9114