Now is a rewarding time to remortgage.
If you remortgage now, your reward is likely to be a far cheaper rate meaning much lower monthly payments.
If you took out a fixed rate mortgage 5 years ago or if you are currently sitting on your lender's SVR, you maybe paying a rate in excess of 4.5%. With remortgages starting as low as 1.48% it makes sense to search the market to find a cheaper deal to switch to.
A home-owner sitting on an SVR with a mortgage of £300,000, could reduce their monthly repayments by up to £700 if they switched to a cheap 2 year fixed rate mortgage.The cost saving over 2 years could be as much as £14,000.
With figures like that it makes no sense to keep paying more than is absolutely necessary for your home.
The best rates are still aimed at those with a 30% to 40% deposit or equity, but the news is good for smaller deposit borrowers too. Remortgage rates have fallen at all loan to value levels so now a good deal is possible if you know where to look and who to talk to.
The remortgage market is vast and there are hundreds of products to choose from, which is why it makes sense to enlist the services of an independent and impartial remortgage broker to undertake a search on your behalf.
If your existing deal is coming to an end, or if you want to switch from your lender's SVR call Deal Direct for advice and a low rate quote.
We are independent which means our advice and recommendations are impartial and based on your needs. We can search to find you the best remortgage deal for your equity level and financial circumstances to save you money.
Call today for remortgage advice on 0800 048 8828.
