How do you know when to remortgage or whether rates will rise or fall?
The answer to the question of when to remortgage, is if you can secure a lower rate of interest and save money then it is time to switch. Call Deal Direct for up to date advice on new products and the best rates available throughout the market.
If recent speculation of whether the Bank of England base rate could go even lower is stopping you remortgaging you could miss an opportunity. The International Monetary Fund's suggestion that the base rate could be reduced again may not benefit everyone and if you do not take any action you could be worse off.
If you are on anything other than a base rate tracker mortgage, a reduction in the base rate may not be of benefit. We have already seen many rates rise even though the base rate has remained at 0.5% for over three years. If you are thinking about when to remortgage Deal Direct can give you independent advice with the benefit of whole of market information.
If you have a tracker mortgage linked to the base rate your payments may fall if the base rate is reduced. However some trackers can be capped or collared which can limit how low your rate could go. It is worth checking the small print to see whether you would benefit from a further base rate cut.
Call Deal Direct if you are wondering when to remortgage. We can help you compare your current mortgage with the best offers available throughout the market. If you can get a better rate and save money that is an opportunity not to miss.
