Why choose a 5 year fixed rate remortgage?

By remortgaging to a 5 year fix set at a lower rate than your current offer, you could save a significant amount over your mortgage term. 

Also in addition to money savings, a longer term deal can offer increased financial security and peace of mind should interest rates rise.

By finding the most competitive rate from the outset, there is less need to remortgage every couple of years as with a 2 year fix. The reduced need to remortgage also saves money, as you will not incur additional remortgages fees.

Is a 5 year fix the right mortgage for you?

By remortgaging to a 5 year rate you gain security in the knowledge your rate will not increase regardless of market and interest rate changes. However longer term security comes at a price, and rates for 5 year fixes are slightly higher than for 2 year fixes. Before choosing a longer term fix it is advisable to seek professional advice as there are many factors to consider.

An adviser at Deal Direct can help you to work out if a longer term fix is worth the extra cost overall, call 0800 048 8828.

Locking in for 5 years.

A longer term fix is more secure, however what if you want to move house after a couple of years or remortgage to release funds or switch to a lower rate?

Before you accept any offer it is vital that you check for early redemption charges.

Through contacting Deal Direct for advice you can be assured that any offer you receive is tailored to your individual needs.

By searching for products with no early repayment charge or one that is charged for a limited time, you can feel assured that regardless of what happens over your 5 year term your choices are not limited.

Call an adviser on 0800 048 8828 to review your remortgage options.