Compare re-mortgage rates now if you are an interest only mortgage holder.
It is time to compare re-mortgage rates if you currently have an interest only mortgage deal.
If you have an interest only mortgage and your lender has announced a standard variable rate increase then your payments are likely to go up within the next few weeks.
If you are able to change to a repayment mortgage while rates are low it could turn out to be a good move. Contact Deal Direct now for advice on how available rates compare with what you are currently paying.
At Deal Direct we can find you the best alternatives and compare re-mortgage rates throughout the market.
While mortgage rates are in general lower due to the historically low base rate, you could consider switching to a repayment option. This would ensure that the capital sum owed at the end of your mortgage term is paid off in full. A fixed rate remortgage deal could also give you the reassurance of knowing your payments are not going to rise for an agreed period.
As the criteria for taking out an interest-only loan becomes harder to meet, those looking for the cheapest mortgage rates might want to consider a tracker deal. Tracker mortgage rates are directly linked to the BOE base rate and are ideally suited to those looking for the cheapest rates who do not mind taking some risk.
At Deal Direct we can compare re-mortgage rates to find a deal that suits your circumstances whether fixed or tracker. Give us a call today on 0800 048 8828 or fill in our on line enquiry form.
