It makes sense to remortgage at the end of a fixed term.
If you are on a fixed rate deal that is finishing, it makes sense to remortgage rather than switch to your lender's SVR.
Remortgaging to a cheaper rate could save you hundreds of pounds, whereas a move to an SVR is unlikely to bring you such significant cost savings.
Since mortgage rates have fallen to records lows, lenders SVRs are no longer such an attractive option. While to may be 'easy' to let your deal revert to an SVR, is it wise?
Not really, paying more for your mortgage than you need to makes no sense at all not when you can find a better deal.
Mortgage rates have come down at all deposit levels, and while the cheapest deals are offered to higher deposit borrowers, these days borrowers at all deposit levels get a look in with an affordable mortgage.
There are now more and more competitive first time buyer deals being released, and various lenders are cutting their high LTV mortgage rates.
If you want to grab a cheap mortgage while record low remortgage rates are on offer call an adviser on 0800 048 8828.
An adviser at Deal Direct will review your current deal and circumstances before reviewing the market to see how much they can improve on your rate.
Give us the opportunity to save you money on what is likely to be your single largest outgoing, after all why pay more for your home than is necessary?
Call for remortgage advice and quote.
0800 048 8828.
