Mortgage brokers to the rescue amidst turbulent market conditions

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.

Prospective Borrowers Struggling

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.

The Furlough Effect on Mortgage Availability

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.

Diminishing LTV Percentages Continue

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.

Independent Mortgage Brokers Provide a Vital Service

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.

Your Local Mortgage Brokers in Sutton Coldfield

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!


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