Flexible versus fixed rate remortgage deals.
Deal Direct can help you work out whether a flexible or fixed rate remortgage is best for you.
Working your way around the complexity of the remortgage market can be difficult without expert guidance.
Deciding whether you would benefit most from a flexible or fixed rate remortgage deal depends very much on your personal financial circumstances and how much of a risk you are willing to take.
Mortgages rates are rising and are predicted to continue to rise over the summer months, therefore regardless of the type of deal you wish to switch to you should be looking now. By waiting to see what will happen in the market you could end up missing out on a competitive offer.
With a flexible remortgage you can both over and under pay depending on your income. For those wanting to pay off their mortgage in advance of the term agreed, such products are highly beneficial. For those with changeable income, a flexible option means you do not have to commit to setting a certain amount of income towards your mortgage repayments each month.
Flexibility comes at a cost though as rates on such products are likely to be higher than those for a fixed rate remortgage option.
While a fixed rate remortgage does not allow flexible repayments, it does however offer risk averse home-owners security. With the rising cost of living home-owners can find comfort in knowing exactly what their mortgage repayments will be for an agreed term
Whatever your mortgage requirement - whether fixed or flexible, contact Deal Direct for remortgage advice today.
