Thrifty Homeowners Seek Advice to Secure the Best Mortgage Deals

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.

Those with Complex Circumstances Should Choose Carefully

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. 

 Headline Interest Rates Can Be Misleading

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.

Choose a Mortgage Broker with Their ‘Finger on the Pulse’

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able to identify any upcoming changes and work with their customer to beat any deadlines where mortgage deals are being withdrawn at short notice.

Dealing Directly with a Lender May Limit Your Options

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

Secure the Best Mortgage Deal for You

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. 

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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. There will be a fee for secured loan advice and the exact fee will depend on your circumstances. The fee is only payable on completion and can normally be added to the loan. 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 and Wales 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.

© 2023 Caboodle Financial Services Ltd