Remortgaging to a cheaper rate could save you thousands.
If you are looking at remortgaging you could have your pick of rock bottom rates. This is particularly the case if you a good deposit. By switching to a cheaper deal you could end up saving yourself thousands of pounds over your mortgage term, or you could opt to shorten your mortgage term.
Since the Government stepped in with the launch of inititatives offering lenders cheap funding, mortgage costs have fallen which has led to rates falling to historic lows.
Remortgage rates start as low as 1.49% for a 2 year fix if you have a hefty 40% deposit. With rates this low you are missing a great opportunity to cut your costs if you choose to do nothing and sit on a more expensive deal. With property prices on the rise remortgaging makes more sense than ever.
Despite remortgaging making serious financial sense, there are around 4.4 million mortgage-holders sitting on their lender's SVR. If you are one of these mortgage-holders be aware that you could cut your mortgage bill by up to £2,000 if you switched to a lower rate.
If you are looking at remortgaging and would like to review lenders offers market-wide you are advised to call Deal Direct on 0800 048 8828.
Speak to one of our advisers and let us help you switch to a cheaper deal and save money.
Contact an adviser on 0800 048 8828.
