What is the answer for those asking when to remortgage.
On the point of when to remortgage, there are many aspects to consider but the first is what kind of deal are you on at the moment? At Deal Direct we can compare your current deal with products throughout the market to find you the best deal to save you money.
If an initial fixed rate or discounted period has ended, for most this means moving onto lenders standard variable rates. This rate may have already started to rise and can continue to increase at any time as it is not linked to the Bank of England Base Rate.
There are many good fixed rate deals at the moment and it might make sense to remortgage now incase the best fixed rate deals disappear as the market moves and more lenders increase rate over their entire range.
There are many competitive deals from lenders at the moment, both fixed and tracker. With a fixed rate deal there is reassurance in knowing exactly what you have to pay every month rather than waiting for interest rate changes. A tracker mortgage has the present advantage of the low Bank of England base rate which some analysts predict could stay low for a further year or possible two.
With low interest rates, there are some good deals available but they may disappear as lenders rates rise. If you are wondering when to remortgage call Deal Direct for impartial advice and benefit from our knowledge of the wider mortgage market.
