Finally Some Good News for Homeowners
Interest rates are unlikely to be increased by the Bank of England any time soon and while that is good news for homeowners who have yet to remortgage, it isn’t the only good news. Due to the lack of expectation of a rate increase any time soon, lenders are becoming more competitive to bring in remortgaging homeowners. This in turn is pushing lenders to offer up their very best deals to bring business their way. Now, not only can a homeowner exhale due to the ease in warnings of an interest rate increase, but they can now go and find some of the best remortgage deals seen in a while.
Lately many lenders have cut their rates, added incentive packages to remortgages, and even more are offering up switch and fix remortgages. These allow homeowners to take advantage of low interest rates of a tracker remortgage while having the possibility to switch to a fixed rate when they so desire. The lending criteria has eased as well, which is actually allowing many homeowners that were previously unapproved to now obtain the remortgage they desire.
Experts do warn that a homeowner should question about all attached fees to a remortgage. Some remortgage deals can appear to be the best due to their low rate, but when considering fees it negates any gain in the low rate being offered. As long as there is careful consideration of all the remortgages being offered and a good look at the fine details of the deal, a homeowner is sure to find a remortgage that will put them in the best deal for their unique situation.