Demand for remortgage deals increases but so do lenders rates.

Lenders are capitalizing on the fact that there is an increasing number of home-owners looking for remortgage deals by releasing more products, but the rates offered are rising.

With interest only criteria changes and SVRs rising for existing mortgage holders, many are now searching the market for a more competitive deal.

In response to this demand some lenders are attempting to lure home-owners to switch to their products through incentives such as no mortgage fees, free valuations or fee assisted legal work.

However such incentives do not necessarily lead to the best remortgage deals, therefore expert advice from remortgage broker Deal Direct is essential in finding the best offers available.

An increasing number of home-owners hoping to switch to a new deal are contacting Deal Direct for remortgage advice. March research data by unbiased.co.uk reveals that remortgage demand has increased by 37 per cent but so too are lenders rates.

Lenders seem to be withdrawing their cheapest remortgage deals only to replace them with slightly higher rates.

Deal Direct do not see this situation reversing in the near future and therefore recommend that home-owners looking to switch lenders, do so soon before the cheapest rates are withdrawn.

A spokesperson for unbiased.co.uk commented on the research saying that recent mortgage market changes are leaving consumers with less choice and higher rates.

They added that unbiased.co.uk is seeing an increase in the number of home-owners concerned about criteria changes and rising rates, taking the opportunity to source best remortgage deals now while they remain available.

If you are looking for remortgage advice or a mortgage market comparison contact Deal Direct today.