Remortgage while lenders are permitted to use transitional arrangements.
Under the Mortgage Market Review lenders are permitted to use transitional arrangements for remortgaging home-owners who don't want to increase their borrowing.
This offers a life line-for those who want to remortgage to a lower rate but under new rule will fail lenders affordability checks.
If this describes your situation call us at Deal Direct and let us arrange to remortgage on your behalf.
The advice is not to delay because from March next year, an EU directive will prevent lenders for handling applications in this manner. Remortgage deals will be considered on the same basis as new property purchase mortgages and stricter tests will apply.
Be aware that at present not all lenders are using transitional arrangements. Therefore it's important to know who is so that you can be sure your application is viewed in the most favourable light possible.
If you want to remortgage to a competitive deal, and need help to find a mortgage call an impartial adviser at Deal Direct.
We will search every lenders range market-wide to ensure we find one willing to waive stress tests for those home-owners not looking for extra borrowing.
For impartial advice and a low rate quote call to discuss remortgaging on 0800 048 8828.
