Professional Mortgage Advice from a Mortgage Broker

Wednesday, March 23rd, 2016

Recent reports seem to indicate that, following significant changes instigated by the industry regulator, many more consumers are taking mortgage advice from a professional broker.

7 out of 10 now use a Mortgage Broker

In fact, reports suggest that mortgage brokers ended 2015 with approximately 70 percent of the overall market share, which represents an increase of over 5 percent over the prior year and of over 20 percent since the onset of the so called “credit crunch”.

Should this continue throughout 2016 (as many are predicting) then this could mean that the majority of those seeking mortgage advice will then decide to deal exclusively through a specialist broker. Whilst these increases cannot continue indefinitely, there is significant confidence that mortgage brokers are likely to have as much as 80 percent share of the available market by 2020.

Lenders embrace the rise of the Mortgage Broker

This trend has not gone unnoticed by those lenders who previously did not make many of their mortgages available to brokers. Consequently, with many lenders now investing as much time and money in their mortgage broker channels as they are in their “direct to consumer” channels, it is highly likely that those lenders will open up many more of these products to mortgage broker channels in the near future,.

Why take advice from a Mortgage Broker?

There are likely to be a variety of reasons for more and more people choosing to take mortgage advice from a broker rather than go direct to their bank or a mortgage lender, so what are they?

Firstly, when providing advice on which mortgage is the most suitable to meet the needs and requirements of the individual customer, many mortgage brokers (such as Caboodle Finance of Sutton Coldfield, Birmingham) will have access to around 40-50 lenders across the market.

Secondly, given the breadth of lenders they have access to, many more of the best mortgage deals will only be available to these specialist brokers.

Finally, the very best brokers will not only provide great mortgage advice but will also be very happy to liaise on behalf of their customer with any of the other parties (e.g. solicitors, estate agents and property surveyors) that may be involved in a transaction.

Professional Mortgage Advice form Caboodle Finance

So, if you are in need of great mortgage advice, call Birmingham’s Caboodle Finance today on 0121 308 9114 or click HERE to contact us by email and we will be delighted to help.

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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