Cheapest remortgage rates – the best deals ever?
Do lenders cheapest remortgage rates offer as good a deal as you think at first glance?
UK remortgage rates maybe hitting lowest levels ever, but borrowers are warned not to be fooled by a headline grabbing rate. There is often a sting in the tail in the form of high fees and large deposit requirements.
Many lenders are introducing new 'lowest ever' rates in an effort to attract new business however the fees charged are making these 'lowest ever' rate mortgages less affordable overall.
When reviewing the market it is more important than ever to check carefully any remortgage offer.
Mortgage fees can impact the 'true' cost of any mortgage. A high fee for a low rate can actually work out more expensive than a slighter higher low offered with a lower fee.
A high fee for a lower rate maybe worth it if you are applying for a large mortgage, however if you are only taking on a small mortgage then such a deal could have less of a benefit.
Working out which is the cheapest mortgage is not straightforward, because while its easy to compare those deals offering same rate but with different fees, it is more complex to choose between deals offering both varying rates and fees.
Comparing lenders offerings and working out which remortgage is cheapest overall is best done by Deal Direct.
- We are a 'whole of market' broker with access to all lenders remortgage rates.
- We can compare the entire remortgage market on your behalf.
- We can find you a competitive deal to switch to.
Find out how much we can save you on your mortgage by calling 0800 048 8828.
