Re mortgage - why, how and where to get help.
Home-owners re mortgage for a variety of reasons, most commonly to save money or to raise money.
Money can be saved by finding a deal with lower interest rates that reduce monthly payments, or by changing to a deal that has a repayment element to reduce costs in the long term. Money can also be raised by releasing equity in your home.
Finding the right re mortgage product can take time. Deal Direct can help you look for a new deal even if your current one has not ended. This can avoid reverting to higher interest rates and paying more than you have to. There are a wide range of products in the market and different types of mortgage have different advantages.
Fixed rate mortgages offer reassurance of knowing what your monthly payments are going to be for a fixed period.
Tracker mortgages are linked to the Bank of England base rate usually at a fixed percentage above the base rate for a fixed period. Some lenders also have products that track their own standard variable rates, sometimes known as discounted rates, these are not linked to the Bank of England base rate.
Offset mortgages are also available to make the most of your savings by combining your mortgage and savings account, your savings are offset against interest payments. Offset mortgages can also be fixed rate, tracker or discounted.
You may have an existing mortgage with a fixed rate or discounted period that is due to end or you are perhaps on your lender's standard variable rate and it is rising. Whatever your reason Deal Direct can help you find re mortgage deals that suit your individual situation.
