Failing to keep your 2016 remortgage resolution

So many home-owners make New Years resolutions to sort their finances out by remortgaging to a lower rate. If this is you, and you made a decision to remortgage in 2016 then don’t leave it too late, you don’t want to end up missing out on the best rates, and so act sooner rather than later.

So many mortgage-holders are unprepared for when interest rates rise, all too often predictions are made as to when this is likely to happen and so far in the last few years not a single prediction has come right. For this reason, many are thinking an interest rate rise won’t happen. This thinking is leading many to put off remortgaging, which is something that doesn’t make sense when there are so many low rate offers available.

It is estimated that when interest rates eventually rise, almost three quarters of home-owners will be impacted by a mortgage rate rise. This can only mean that so mortgage-holders are sitting on their lender’s SVR. This makes no sense when fixed rates are set far below lenders standard variable rates.

Those who switch to a new fixed term in 2016 can save money while rates are low, and can save themselves the worry of rising interest rates for the term they agree to fix for.

With over 50% of households saying they are struggling to keep up with house-hold bills, anything that be saved on mortgage payments makes sense.

The advice is to discuss your options now with a mortgage adviser at independent broker Deal Direct. We can make a full review of your finances before searching the market to find you a great deal to move to.

Call us now and see how much money we can save you on your home.

For mortgage advice in 2016 and a low rate quote,

call us on 0800 048 8828.