Cheapest mortgage rates could help you repay your loan early.
If you get the cheapest mortgage rates available in the current market, you could save money and pay off some of your loan. Deal Direct can source the latest deals on offer from lenders so that you don't pay any more than you have to.
With the cheapest mortgage that allows flexibility for you to overpay, you could potentially reduce your mortgage term. It may surprise you, how an overpayment that fits into your financial budget could reduce your overall mortgage costs.
An alternative option, if you have savings, is to remortgage to a product that has an offset facility. This way you can make your savings work for you, by reducing your monthly interest. If you maintain the same monthly payments this would gradually reduce your debt.
Even if you are comfortable with existing payments and are nearing the final years of your loan you might still save money. If you have a variable rate, this can rise at any time and many lenders increased their standard variable rates this year.
Getting the cheapest mortgage with a low fixed rate can save you money, even over a relatively short period. The minimum length for a mortgage term that lenders usually offer is 5 years. If you want to repay your debt in less time, a 5 year mortgage may allow you to repay early.
Call Deal Direct for a cheap deal.
