Nobody likes uncertainty, especial when it comes to your finances.
Regardless of your thoughts on Brexit, it is difficult to predict what the financial future holds. We have seen the Bank of England base rate start to edge up with a hint that more is to come. Great if you are a saver, but not so good for mortgage holders. So should you remortgage now?
The chances are that your mortgage may well be your largest financial commitment. Two-year fixed-rate deals are now priced around 2.50% that is up from around 2.25% this time last year. Homeowners with standard variable rate (SVR) mortgages have also seen rates move up from around 4.75% to 5.00%. Many of these mortgage holders are unaware that the lending criteria have again changed to help them get a better deal.
Should I get a fixed rate mortgage?
Depending on your personal circumstance it may be worth considering. You can lock into a rate up to six months before your existing deal ends. This could be with your existing lender or a new provider. With the housing market slowing down and competition between lenders increasing now is a go time to look.
Our best buy comparison table on the 16 October 2018 shows a remortgage deal of 1.88% for 2 years. The table is updated daily so why not check out the best deal available to you today. Remember that the lowest rate is not always the best rate for you.
How Anstee & Co can help you remortgage.
We are independent mortgage brokers. This means that the mortgage advice we give is unbiased. We look at all mortgage providers for you, unlike some who will only work from a limited panel. The rates offered to mortgage brokers are often better than going directly to the lender.
Why not arrange a meeting to today to see you can get a better deal on your mortgage. The meeting can be arranged at the weekend or early evening.
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Call us or follow this link to arrange a callback.
AS A MORTGAGE IS SECURED AGAINST YOUR HOME, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.