Your Local Mortgage Broker in Sutton Coldfield, Birmingham

Wednesday, September 10th, 2014

Choose Your Mortgage Broker With Great Care

While mortgage brokers such as Caboodle Finance in Sutton Coldfield, Birmingham are unaffected, the implementation of the Mortgage Market Review (MMR) and the changes and modifications to mortgage regulations contained within it have caused extensive problems for many high street mortgage lenders.

These regulatory changes impact on the mortgage advice that high street lenders are now required to provide to customers, something that they weren’t previously required to do. Unlike a mortgage broker, many of Sutton Coldfield’s high street lenders previously only offered clients options from within their own product range so that consumers either had to choose from that limited pool of mortgage products or decide to begin the process all over again with another lender.

Mortgage advisers at banks and building societies in Birmingham must now undertake a full ‘fact find’ with all prospective clients in order to be able to recommend a suitable mortgage option. This additional requirement has served to slow the whole process considerably, with customers experiencing lengthy delays to the extent that scheduling an in-office appointment with some mortgage lenders can mean a further delay of up to six weeks, with telephone interviews (when offered) taking up to three hours to complete.

Birmingham and Sutton Coldfield’s Mortgage Brokers to the Rescue!

For most people, especially those looking to purchase a property, these delays are unacceptable, so what is the alternative? The answer may be to use a professional mortgage broker like Sutton Coldfield’s own Caboodle Finance who will not only provide the advice, recommendations and guidance that their clients expect, but also one that has access to a much more extensive panel of mortgage lenders. This type of mortgage broker is not limited to a specific range of products offered by a single lender, so that a client will generally obtain a more competitive deal and also locate a mortgage that will better fit their needs and requirements.

Birmingham Mortgage Broker’s can save you time

The backlog and prolonged wait times associated with high street mortgage lenders are likely to continue for some time as they adjust to the new regulatory requirements. Even after they become adept at administering the new requirements, the fact remains that their mortgage advisors will only ever be able to provide tied products from that lending institution and deny prospective clients access to the full range of lending opportunities available elsewhere.

Caboodle Finance, mortgage brokers, Sutton Coldfield, Birmingham

Caboodle Financial Services Limited (“Caboodle Finance”) aim to offer prospective clients an in-person or over the phone appointment within a few days of first contact. In addition, they have access to a very comprehensive range of mortgage lenders and offer a more personalised mortgage service, they oversee the mortgage application from start to finish, liaising with all the third parties involved to ensure, wherever possible, the best possible outcome.

Mortgage brokers, Caboodle Finance, based in the Birmingham town of Sutton Coldfield, can be contacted on 0121 308 9114

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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.

© 2019 Caboodle Financial Services Ltd