Fears of rising mortgage rates grow amongst home-owners.
According to economists, fixed mortgage rates may soon start to climb market-wide in response to a potential increase in interest rates.
Mortgage rates are at their lowest in a decade, and mortgage-holders on variable and tracker rate deals have become reliant on rock bottom rates and lower monthly payments. While interest rates remain low, remaining on a variable rate or tracker deal makes sense, however as the bank rate rises this strategy might prove very costly.
To risk rising rates makes little sense when you could lock into a cheap fixed rate deal. Many market analysts believe UK rates have bottomed out and a market-wide increase is only a matter of time.
If you are on a tracker, variable or high fixed rate you are recommended to switch to a cheap deal while you can.
To review the entire market to see what rate you could switch to, seek expert advice from independent 'whole of market' remortgage broker Deal Direct.
To review all mortgage rates for your deposit level click on the red button below or for a personalised search call an adviser.
Contact Deal Direct and give us the chance to beat your current lender's offer.
We can help you remortgage to a cheap deal while historically low rates remain on offer.
For advice and a low rate quote call 0800 048 8828.
