Wednesday, April 26th, 2023
With high inflation adversely impacting the cost of living and fluctuating interest rates in play, many UK homeowners, as well as those looking to get on to the property ladder for the first time, have been seeking advice from professional mortgage brokers to give themselves the best chance of securing a competitive mortgage deal.
In the experience of our mortgage advisers here at Caboodle Finance, many people looking for a mortgage have complex circumstances, including amongst other factors the source or nature of their income (i.e., self-employed, contractors, those paid in a foreign currency, and those with multiple or variable incomes).
Any application which includes an element of complexity is likely to mean that a simple interest rate comparison table will not be appropriate given that the best mortgage deals are often restricted to products from lenders who, when everything is taken into consideration will be happy to proceed.
It is also fair to say that when searching for the most suitable mortgage deal to meet a person’s situation and requirements, any initial (usually lower) headline interest rate may not be as attractive as it seems.
Many products will have a lender fee attached, whereas others may include incentives such as ‘free valuation,’ ‘free legal conveyancing,’ or even ‘cashback on completion.’ All these components need careful consideration when recommending a suitable mortgage deal, so an expert mortgage broker will need to give advice regarding all these relevant factors to help drive down the overall cost of the mortgage.
Furthermore, with mortgage rates and products changing on a regular basis, some at noticeably short notice, what was the best mortgage deal last week may no longer be the same case today. Again, an experienced mortgage broker with their ‘finger on the pulse’ will be able to identify any upcoming changes and work with their customer to beat any deadlines where mortgage deals are being withdrawn at short notice.
Although some people feel confident enough to choose and arrange their own mortgage, many engage a broker to avoid the stress of dealing with a lender direct whilst others want the comfort of knowing that a mortgage deal has been properly sourced using a comprehensive panel of lenders so that it will be the most suitable product based on the borrower’s circumstances and requirements.
Our professional office-based team works extremely hard to ensure that clients always get the best mortgage advice. With that in mind, please check out our testimonials page, HERE.
Then, if you would like to discover more about how our friendly experts could help you secure the very best mortgage deal for your circumstances, just call one of our team here at Caboodle Financial Services of Sutton Coldfield, Birmingham on 0121 308 9114, or alternatively, please use our website enquiry form to contact us, HERE.
We look forward to speaking with you.
The information contained above was correct at the time of publication but is subject to change.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Caboodle Financial Services Ltd
Mere Green House
46-48 Mere Green Road
West Midlands B75 5BT
Telephone: 0121 308 9114