Are you an interest only mortgage holder with no repayment plan?
It is estimated that up to 1 in 7 UK households have an interest only mortgage with no repayment plan in place.
This means around 1.5 million mortgage holders have no means to repay the capital on their home, and could be forced to sell at the end of their mortgage term.
For those mortgage holders in this position the advice is to review remortgage deals and switch products. Deal Direct recommend interest only home-owners compare remortgages now while rates remain low. With property prices rising, and lending criteria relaxed it may be now possible to switch where 12 months ago it was not.
Deal Direct can help you find a new deal so contact one of our remortgage experts on 0800 048 8828.
By remortgaging and moving to a repayment deal you can ensure that your mortgage will be paid off in full at the end of the term.
As an independent 'whole of market' broker Deal Direct are up to date on the most competitive rates and lenders criteria. We can carry out an entire mortgage market review quickly and with no stress to you.
Contact Deal Direct today to find you the best remortgage rate to switch to. We can help you move from an interest only mortgage.
