Why choose a fixed rate remortgage?
With rates set low now is the right time for mortgage holders to lock into a cheap deal.
Remortgages are competitive across all fixed periods, with deals starting at 1.24% from the Chelsea BS for a 2 year fix.
If you are looking to switch and remortgage to a lower rate then there are plenty of offers to choose from. However, as it always the case higher deposit customers get their pick of the best rates.
That said lower deposit / equity remortgage rates have been falling over the past 12 months and so now even lower equity home-owners can be sure to find something competitive too.
Why choose a fixed rate as opposed to a tracker or variable rate?
Fixed rate deals come with a lower risk as the rate you agree will not be impacted by a change in the bank rate during the term agreed.
With a variable or tracker rate this is not the case, rates rise in line with interest rate changes. This is great while interest rates are being cut, however not so positive as interest rates rises as mortgage costs rise too.
By fixing your rate you are also able to budget and plan your finances better. Knowing what your monthly mortgage repayment will be for the term you agree does offer peace of mind.
If you want to compare all fixed rate remortgage offers to find the one which could save you the most money speak to an adviser at Deal Direct.
- We review the most competitive mortgage offers market wide.
- We come up with a quote personalised to your individual needs.
- We help you to complete your mortgage application.
- We work hard on your behalf to get you approved for a mortgage.
Call us today at Deal Direct for independent and impartial mortgage advice. We can find you a low rate mortgage offer to make home-ownership more affordable.
Call 0800 048 8828, or click below to begin an online search.
