With rising SVRs remortgage deals could offer you substantial savings.

Remortgage deals could offer you savings if you are one of the many borrowers affected by rising standard variable rates. The Bank of England base rate has remained at its lowest level for over three years but many lenders SVRs are set to rise from 01 May.

If you are affected by these rate rises Deal Direct can find you an alternative deal to save you money. If you simply do nothing you could be paying far more than you have to.

Even if you do not have a large loan you can still save money by switching. If you have 40% or more equity in your home some of the very best remortgage deals are available. Because you are considered less risk to lenders you could benefit from the best rates.

As well as saving money on your current rates, changing to a fixed rate option would give you certainty about your monthly out goings for the length of the fixed period. A tracker rate, which is directly linked to the Bank of England base rate would protect you from any subsequent lenders rate rises but would increase when the base rate rises again.

Currently the market for fixed rates is very competitive and we are seeing many products with low interest rates. The size of mortgage and loan to value that you require will influence which products are available to you. There are also incentives from many lenders competing in the market such as reduced fees or even some fee free products as well as free valuations or legal work.

All of these factors need to be taken into account when assessing remortgage deals and choosing which is the best for you. For professional advice and access to the latest products, call Deal Direct. Our advisers can source the best deal to suit your circumstances and save you money.