Remortgage Best Solution for a Variety of House Owning Situations
Every UK house owner is currently going through all options available concerning the future of either moving home or looking to obtain a remortgage. With the fear of the possibility of a rising set of interest rates looming, no decision is an easy one. There are benefits to moving home, but more often than not there are more benefits to obtaining a fixed rate remortgage.
For house owners in which several years have passed on their mortgage term there is good news. A new deal through a remortgage means securing a deal which will likely be the last one of their lifetime. Many extremely low rate fixed deals are available through high profile lenders.
Julie Croney of JC Financial in Wallsend, Tyne & Wear commented on the current climate house owners are facing, saying: “Many long-term borrowers will remember when mortgage rates were in double figures – and stayed there for some time.”
Croney added: “Remortgage today and you should be able to sign up for a mortgage rate far lower than any you have had in the past.”
The most attractive deals are available for those with short term to medium length terms left to their mortgage. Even those holding an interest only mortgage are in better position due to the number of house price increases the economy has experienced.
For those not familiar with a remortgage, there is much to gain. The process of applying for and obtaining a remortgage has been streamlined and are now both quite simple and timely.