Tips on avoiding a mortgage rate rise.

For home-owners keen to avoid a mortgage rate rise there are a number of things to consider.

Various UK lenders have announced a SVR increase but mortgage holders sitting on lenders SVRs should not panic, there are other mortgage products to switch to.

Those of you worried about your lender's rate increase will be given the opportunity to change deals. It will be possible to remortgage with another lender or transfer to another product with your existing lender.

The Halifax have advised that customers wanting to avoid a mortgage rate rise may chose to switch to another product. They offer a 2 year fixed rate mortgage deal, but warn that those who need to borrow more than 75 per cent on an interest-only basis, may not qualify for the switch.

Those of you with any mortgage issues should come to Deal Direct and we will search the market for a competitive alternative deal.

Some of you may have savings which are earning you virtually no interest. Your savings could be used to pay off some of your mortgage debt, as at a lower loan to value level remortgaging should become far more easy.

For those on lenders SVRs which are at risk of a mortgage rate hike, it is worthwhile monitoring the market to compare remortgage deals on offer. For those on mortgage rates between 4.5 and 6 per cent, a switch to a better deal should be possible with as little as 15 per cent equity.

Here at Deal Direct we have our figure on the mortgage market pulse and are completely up to date with market changes.

For those of you looking to switch from a SVR deal to avoid a mortgage rate rise we can help. As 'whole of market' brokers we can search through all UK lenders offers on your behalf to find the most competitive deal to switch to.