Why remortgage and fix a low rate in time for 2017?

Market analysts predict that it’s unlikely mortgage rates will get much cheaper, which means there’s no reason to hold off fixing your 2017 mortgage rate as soon as you can.

While interest rates may stay low, news from the US that Donald Trump is now president, may mean all bets are off. Who knows what will happen to world-wide financial markets now he’s elected, and so it makes sense not to put off finding a cheap deal while you can.

When rates eventually go up it’ll come as a shock to many home-owners who have purchased during times when rates have only ever fallen. While older home-owners of 55 and above will remember a time when interest rates were at 16%, younger buyers do not. They have no frame of reference for high rates, and many may think increases are a long way off.

If after reviewing your finances you find that a 2017 mortgage rate increase would leave you unable to manage financially, you are advised to review your offer to see if there is a cheaper deal to switch to.

If you have debts you could consider remortgaging to release the equity you have built up to pay them off, this could reduce your overall spending, however this is a step not to be taken lightly. For advice on this point you should speak to a financial adviser.

If you want to discuss your options to decide if you should remortgage in 2017 speak to us at Deal Direct. We are specialist remortgage brokers and after a review of your finances can come up with deals to help you save money or release equity.

For advice and a quote call us today. Let us help you switch to a cheaper mortgage. 

Call us on 0800 048 8828.