Mortgage Rates – Stick or Twist?

Wednesday, May 23rd, 2018

There has been significant talk in the press over the last few months regarding what the Monetary Policy Committee (MPC) will do with interest rates and, in particular, the bank base rate. Not only will the decisions they make impact the mortgage market, the speculation around the potential for interest rate changes in the coming months is likely to have led some lenders to consider amending their product pricing ahead of any announcements.

Interest Rates and Mortgage Products are changing daily

Mortgage interest rates and products change daily, and it is even sometimes difficult for mortgage brokers within the industry to keep up with all the changes, so it most certainly cannot be an easy task for borrowers.

Specialist Mortgage Advice is More Important Than Ever

It is likely that some people coming to the end of a fixed rate deal or those on a tracker/variable rate are scratching their heads not knowing what the best solution is going forward. This is where a specialist mortgage broker such as Caboodle Finance can help, as we will be able to recommend a suitable product to meet the specific requirements of the individual customer based on their short, medium and longer-term objectives.

Identifying the Most Cost-Effective Product

There are a number of options for existing borrowers when they want to change their mortgage deal, which include taking a product transfer with their existing lender onto one of their ‘existing customer’ deals or returning to the market to find the most competitive product to fit their requirements from another lender. 

Leave the Research to the Experts

Clearly the comparisons can only be made with the information to hand and using the services of a mortgage broker can sometimes make the entire process much easier as they will undertake all the research work on behalf of the client. The mortgage broker can then assist with the new mortgage whether it is a new deal with a new lender or if it is transferring to a new product with the existing lender.

Your local mortgage broker can help you find the best deal

Customers who use a dedicated, professional mortgage broker such as ourselves will get speedy access to all the appropriate information and benefit from their accumulated knowledge and experience. The latter is particularly important given the wide range of criteria and requirements often applied by lenders on their many and various products.

By your side throughout your mortgage journey

Here at Caboodle Finance, of Sutton Coldfield, Birmingham we love to guide our clients through all of this. Call today on 0121 308 9114 or just click HERE to contact us by email to see how our mortgage broking experts could help you with your mortgage application.

Your property may be repossessed if you do not keep up repayments on your mortgage

This firm usually charges a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity

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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.

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 SQ2 House, 240b Lichfield Road, Four Oaks, Sutton Coldfield, West Midlands B74 2UD (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.

© 2017 Caboodle Financial Services Ltd