Want to save money by locking into a fixed rate remortgage in 2016?
With lending criteria for remortgaging home-owners set to tighten after April, it is recommended that you search now to find a competitive fixed rate mortgage to lock into.
If you fail to find a deal offer before stricter remortgaging affordability rules come into play, you could find yourself unable to switch offers. This means that at the end for your current mortgage term you could be automatically switched on to your lender’s SVR, which could cost you dearly over the term of your mortgage.
Low fixed rates may not be around forever, so locking into a low rate remortgage now while you still can, makes sense.
When looking for a new deal be careful about fees and costs for changing. Some lenders will offer home-owners a free valuation for instance, but be careful that all terms stack up such as the rate and the fee. With your mortgage being your largest cost it’s vital to get the mortgage which is most affordable overall.
All too often lenders launch eye catching low rate deals only for applicants to find out that the fee charged makes the mortgage less competitive overall.
If you want to make sure that you save as much money as possible on your 2016 remortgag, call us at Deal Direct for advice.
We are remortgage experts with vast experience finding low rate offers for our clients.
For a great remortgage offer call 0800 048 8828.
