If your mortgage is interest-only get remortgage advice.
If you have an interest-only mortgage, get remortgage advice from Deal Direct. If you do not have a way to repay your loan when the mortgage term ends, you could risk losing your home.
According to recent figures over 100,000 home owners have mortgages on interest-only terms.
While there are many low rate remortgage options available, lending criteria has become more strict and changing mortgages has become more difficult. Some home owners with interest-only mortgages are approaching retirement age or have already retired and this can limit options for remortgaging.
Call Deal Direct for remortgage advice, if you have an interest-only mortgage that is nearing the end of the term. There are a number of alternatives that you could consider, to help you repay your loan and keep your home into retirement.
If you have an endowment policy to repay your mortgage, you will need to check that the funds will cover your mortgage debt. Some home owners have found that their endowment policies have a substantial shortfall, leaving them unable to repay the debt in full.
If you think you might be in this position, you may be able to switch to a repayment mortgage. With many low rate deals on offer from lenders, it could be a good time to get a competitive deal. This could save money on your monthly payments and allow you to repay some of your loan.
Call Deal Direct for remortgage advice.
