Remortgaging could help to reduce your monthly bills.
Remortgaging could be the best way to make savings on your household bills. With the cost of running an average home estimated at nearly £9,500 a year any savings can help.
During the past four years our home energy bills are estimated to have risen by around 50 per cent to an average of over £1,500. Increases in maintenance and repair costs and property insurance all add to the strain on our household budgets but the main cost for most home owners is their mortgage payments.
It makes sense to prioritise finding a cheaper mortgage if you want to cut household bills. According to survey figures an average mortgage costs just under £3,500 a year and for most home owners this is likely to be your largest monthly expense.
At Deal Direct we can source the best remortgaging deals throughout the lending market and a better deal can save you money. If your mortgage is on a high standard variable rate you could simply save money by changing to a mortgage deal with a lower rate.
As an example, if you have a £150,000 mortgage at a rate of around 4.5 % you could save over £1,500 by switching to a five year fixed rate mortgage at 3.99%. You would also be protected against any further rises if rates, including the Bank of England base rate, increase during this period.
Call us at Deal Direct to discuss your remortgaging options and we can source the best deals in the market to suit your situation.
