How to avoid a variable mortgage rate rise.

With many standard variable mortgage rates on the increase Deal Direct thought it a good idea to look at how such increases can be avoided.

One of the most obvious ways to avoid the effects of a variable mortgage rate rise is to remortgage through Deal Direct.

Most lenders who announced rate increases also advised that for a three month period, mortgage-holders would be allowed to make a penalty free move to another product with an alternative lender.

In response many lenders such as Barclays have released cheap mortgage products specifically designed to lure SVR mortgage holders hit by a rate increase. There is currently healthy competition between mortgage lenders trying to attract business, which is of great benefit to those of you looking to switch.

Call Deal Direct and we will source a new deal for you. It pays to have professional advice and guidance when considering mortgage options. We can help you can work out which are the best deals on offer, taking into account headline interest rates, mortgage charges and fees. We are independent and impartial and only recommend what is in your best interest.

As well as remortgaging you could also consider repaying some of your loan, if your savings allow it. If your variable mortgage rate is due to rise, paying off a lump sum could reduce your mortgage term greatly. However Deal Direct do not recommend you do this without first carefully checking your mortgage contract to see if early repayment charges apply.

We recommend that you seek the advice of Deal Direct's impartial advisers whether you are looking to switch from your current variable mortgage or want advice on early mortgage repayment.