2016 remortgage rule change is set to create mortgage prisoners.
Home-owners are being warned that under new EU remortgage rules to be introduced in 2016, they could find themselves trapped with their current lender unable to switch to a better offer.
In light of this situation which is likely to be created by the introduction of the EU mortgage directive in March next year, home-owners are being urged to move onto a new deal while they still can.
What should you do to avoid becoming a mortgage prisoner?
Right now you need to be reviewing your current offer to see if you are eligible to remortgage right now.
You might find that your offer is not due to end, but with rates at historic lows you might find you are able to save yourself money even if you have to pay a penalty to get out of your present deal.
If you would like advice and a review of your circumstances to see what your remortgaging options are, call an adviser at Deal Direct. We can help you remortgage now to a new deal before 2016 mortgage rules come into effect.
If you get to the end of your current deal after March 2016 and find yourself unable to remortgage you will revert onto your lender's SVR which will probably be set far higher than average rates are at present.
To avoid paying more for your home in 2016 and beyond, call and speak to an adviser on 0800 048 8228 ask them for a low rate quote.
To discuss your 2016 remortgage options,
call Deal Direct today.
0800 048 8828.
