Home-owners advised to review mortgage rates.
Deal Direct are recommending that all mortgage holders make a mortgage rates review soon. This is doubly important for those on a deal coming to the end of it's term, those mortgage holders advised of an SVR increase and interest-only mortgage holders subject to a criteria change.
New mortgage research shows rates are on the rise and by failing to act now many who are due to come to the end of their mortgage term, could miss out on lenders lower mortgage rates offers. Deals that are available today may not be in a few months time.
If you are ready to switch deals now or are still looking for a property to purchase, it is important to remember that a new mortgage application can be made now and if approved, any offer made is generally valid for six months. It is our advice that you should act soon to secure lenders current rates in case they are subject to further increases.
Even those of you on a deal not due to end should take a look at what is currently on offer.
Those mortgage holders not subject to an early repayment fee might want to consider their options now as switching a better rate might be the way forward. Mortgage rates are expected to rise and a competitive rate on offer now could save money in the long term.
For lenders best mortgage rates contact Deal Direct today, we will compare all available offers to come up with a deal worth switching to.
