Low rates lead to highest remortgaging levels for 8 years.
Remortgaging to release equity has hit the highest level since 2008. Whether it’s for the purpose of a one off purchase, home improvements or a buy to let, record low rates are making money cheaper than ever.
Figures show that the amount of equity withdrawn by home-owners remortgaging, hit £965.6m in April. This is the highest figure recorded since March 2008.
The fact that rates remain so low and an interest rate is now predicted for several more years, has made remortgaging an even more attractive proposition for home-owners.
With 2 year rates starting at just above 1% for those with a 40% deposit, money is cheap.
If you want to remortgage then it’s crucial to review all lender deals available, to ensure that you end up with the one which is most competitive overall.
It’s important not to get sucked in by an ultra-low rate offer without first checking the fee. Often the best deals come with higher fees, which is why you must make a like-for-like comparison of all mortgages at your equity level.
IF you would like to find out how much money you could save on your home by remortgaging call us at Deal Direct.
We are the remortgage broker of choice with years of experience, but don’t just take our word for it, find out what our customers think:
For advice and a low rate quote, call us on 0800 048 8828.
