Switching to a fixed rate mortgage in 2014.
In 2014 mortgage rates are predicted to rise, and so you are recommended to move from a variable rate deal to a fixed rate to give yourself added protection.
Many home-owners move onto their lender's SVR without much thought. Surprisingly some mortgage-holders do not bother to search the market for a better deal. While SVRs were competitive, letting your lender switch you to their SVR was okay. However since fixed rate remortgages have become so cheap this no longer makes sense.
It makes no sense to default to an SVR at 4%+ when there are far cheaper fixed rate remortgages on offer which could save you money.
Why move from your lender's SVR in 2014?
As interest rates are expected to rise, lenders are likely to react by hiking their mortgage rates, and SVR holders maybe affected the most.
As a variable rate holder you are more vulnerable to interest rate fluctuations, and so before lenders funding costs rise, protect yourself by switching to a cheap rate deal while you can.
To make a 2014 mortgage market comparison for the best rate on offer, you are recommended to contact Deal Direct.
Our advisers are dedicated to finding the most affordable fixed rate remortgages for home-owners wanting to move off an expensive SVR.
If you are looking to remortgage in 2014 to save money, speak to an adviser on 0800 048 8828.
Contact Deal Direct, and give us the opportunity to beat your current mortgage offer.
Call 0800 048 8828.
