Remortgage now as mortgage rates are on the up.

The Bank of England recently issued a warning that mortgage rates are on the increase and could rise sharply over the coming months.

UK lenders are very concerned about the effect the worsening eurozone crisis could have on the UK economy.

Banks funding costs increases have already led to an increase in UK mortgage rates and now the Bank of England are warning home-owners to buckle up as rates may rise far higher over the summer months unless eurozone issues are resolved.

Previous mortgage rate increases were defended by lenders advising that they absorbed increases as long as they could but now they have no alternative but to pass on these costs to mortgage-holders. Some believe banks could continue to keep rates low but instead are choosing to boost profits

Home-owners are already suffering through prices increases to many house-hold costs. The cost of living has sharply risen over the last few years and some financially stretch mortgage-holders unable to absorb yet more costs, are choosing to vote with their feet and switch lenders.

With the BoE predicting lenders cheapest mortgage rates will most likely disappear, home-owners are advised not to delay in sourcing a more competitive offer.

If you have a good level of equity with a mortgage rate of 4% and above, with no early redemption charge you are urged to contact Deal Direct today.

We are an independent broker who will offer you impartial advice and a personalized mortgage quote to beat your present offer. As we are a 'whole of market' broker we are not linked to any specific lenders and therefore have access to all competitive deals available.

For the most competitive mortgage rates currently on offer contact Deal Direct today.