As a second recession is announced - remortgaging offers some relief.

Remortgaging could offer financial relief to some home-owners worried about the likely affect of the recently announced double dip recession.

With lenders having tightened their mortgage lending criteria remortgaging may no longer be an option open to all home-owners. However if you have a good level of equity built up in your home you should be able to achieve a cheaper new mortgage. Contact Deal Direct and we will find an alternative mortgage offer to save you money.

Through a competitive remortgage, your rate could be reduced making your monthly outgoings lower helping you budget, or you could release cash in your home to relieve pressure on your finances.

Bank of England governor Sir Mervyn King has recently stated that exposure to the eurozone crisis could mean the path to economic recovery may be slow and uncertain.

He added that the UK has been through the biggest financial crisis since the depression, and the UK's largest trading partner the eurozone is crumbling, all of which negatively affects our economy.

It is predicted that the eurozone crisis is likely to push up remortgage rates over the summer months and lenders are likely to further tighten their lending criteria.

Remortgage deals remain on offer but rates are rising, therefore any home-owner looking to source a competitive rate is advised to act sooner rather than later.

By taking a wait and see approach the cheapest deals could be gone.

If you are considering remortgaging and switching to a better rate Deal Direct recommend that you make a move now.

Contact Deal Direct today and we will find you a more affordable offer.