Contractors remortgage to avoid a potential rate hike.
If you are a contractor with a mortgage, you might want to consider your remortgaging options and switch to a lower rate while you can.
If rates were to rise following the referendum result, you could end up paying far more for your home that you presently do.
It’s difficult at this very early stage to say what will happen, however predictions are for costs to rise. If you are looking for longer term protection to ride the storm, then a 5 year fix may be the way to go. With a longer term fix, rates can rise but you are immune to any potentially negative effects until the end of your deal.
If you would like to discuss your options and would like free no-obligation advice, then call us at Deal Direct.
We specialise in finding mortgages for contractors, and have close relationships with lenders using specialist underwriters who understand the contractor market.
To find out your options and what deals are available at your equity level speak to us today.
Call 0800 048 8828 for free no-obligation advice.
