Remortgage advice for interest-only mortgage prisoners.

Deal Direct's remortgage advice for those home-owners who took out an interest-only deal between 2005 and 2011, is compare all current deals on offer to find a product to switch to.

Switching deals is far easier for those who compare remortgage products through a broker. It is almost impossible to find time to research and compare every UK offer on your own.

By contacting Deal Direct you will receive up to date impartial remortgage advice right from the start. Our advice could be the difference between finding a new deal or being stuck as an interest-only prisoner.

New FSA rules are expected to come into force in just over a year, and while these rules could help future mortgage holders they could trap current interest-only holders into their current deal.

Somebody who has become trapped in their existing mortgage deal is typically a mortgage-holder with a small deposit or equity, who has an interest-only deal and maybe in negative equity.

Adam Phillips who is the chairman of the FSA Consumer Panel has said that he is concerned as to how cash-strapped homeowners may cope under the suggested new regime. He advises that the new rules should not be introduced unless building societies and banks are forced to treat all interest only mortgage prisoners sympathetically.

The FSA Consumer Panel has also called for the new rules to be delayed until after Britain’s housing market has recovered, therefore there is still time to switch deals.

Contact Deal Direct for remortgage advice if you are worried about being trapped in your mortgage deal. We will search for a new mortgage product for you.