Competitive UK remortgage deals are offered through Deal Direct.

Home-owners who are on interest only or lenders SVRs should have no trouble sourcing competitive remortgage deals providing they have a good level of equity.

In general, problems arise when mortgage holders find themselves having trouble meeting current lending criteria. Many mortgage providers are reassessing deals on offer and amending terms to reduce their risk.

Many interest only and SVR customers are being affected by market changes. In reaction to this the Financial Services Consumer Panel has registered concern over what they describe as 'mortgage prisoners', who could now find themselves with higher rates and no where to turn.

There are various competitive remortgage deals currently on offer from UK lenders, but with property prices stagnating home-owners are recommended to switch while they have the highest level of equity. In general the higher the level equity, the cheaper the mortgage rate offered.

The cheapest remortgage rates are currently on offer to those home-owners with at least 20 per cent equity. If you are debating whether or not to remortgage do not deliberate too long, with deals remaining on offer for no longer than a month before becoming over subscribed and mortgage rates on the increase, indecision could cost you dearly.

Lenders offering great remortgage deals include the Chelsea Building Society who offer a 2 year tracker for 70 per cent loan to value at a rate of 2.39 per cent, this deal comes with a £1,495 fee. The Norwich and Peterborough also offer a similar tracker but their rate is 2.49 per cent for 75 per cent loan to value with a £795 fee.

For a 2 year fix HSBC offer a rate of 2.54 per cent for 60 per cent loan to value but with a reasonably high fee of £1,999 and Penrith Building Society offer a competitive 2 year discounted rate of 2.65 per cent for 75 per cent loan to value which is fee free.

For the best remortgage deals on offer contact Deal Direct today.