Remortgage now to avoid being trapped on a higher rate.

It's been a few weeks since we first highlighted the need to switch and remortgage to a cheaper product while you still can.

The reason for this is the fact that once the new EU 'Mortgage Credit Directive' comes into play early next year (March 2016), current transitional arrangements for remortgaging home-owners will end.

This means those mortgage-holders who under current transitional arrangements would be able to switch, will find themselves subject to stringent affordability checks from next year.

Basically regardless of what low rate deal you want to switch to to save yourself money, you will be stressed tested on a much higher rate of 5% to 7%. If your finances aren't up to paying a rate of up to 7%, you will be refused the chance to switch.

So if you fail to act now and by the time you do you can't switch - what will this mean?

Basically you will end up on your lender's SVR set at a higher rate. If you're asking - what can I do to avoid this happening? Simple - don't hold off remortgaging, act now before it's too late.

Whatever point you are at on your current mortgage call us at Deal Direct and find out just how much we can save you on your home.

With rates set at historically low levels you could find you are better off paying a penalty to end your mortgage early to switch to a much better offer.

If you would like mortgage advice call us on 0800 048 8828. We are independent and 'whole of market' which means we act solely in your interest and not in the interest of any lender. We get you the right deal at the right rate to suit your finances.

We are dedicated to getting remortgaging home-owners the very best deal available because we want you to keep coming back to us, we want to be your broker for the entire term of your mortgage.

For a low rate quote and great advice call today on 0800 048 8828.