Summer Expected to Be Opportunity for Homeowners Seeking a Savings
Homeowners are expected to show strong demand for remortgages in the coming months. There are a large numbers of mortgages that are about to end. With over £26 billion in mortgages due to mature in October there are even more that will end in the autumn. With the opportunity to escape the higher interest rates found on a lender’s standard variable rate (SVR), a remortgage is surely going to be at the top of homeowner’s priority lists.
Experts have warned that homeowners that mortgaged two or more years ago are paying on an interest rate that is likely half of what is available on a SVR. With a remortgage, there are savings to be found and that savings could be very substantial.
There are a lot of remortgage products being offered currently that should not be overlooked by those that have already had their mortgage deal end and those that are close to having them end.
To get started on how much of a savings could be obtained by a homeowner, one simply has to shop around online. Throw loyalty to the present lender away and look for the best opportunity that is right for the homeowner’s needs. Checking online can be easy with most websites from lenders offering quick quotes. A few answered questions and the homeowner can have information that will quickly reveal what savings are available.
Rather than pay more than is necessary, getting a remortgage could be the answer this summer for homeowners seeking savings that probably won’t be found on a SVR, but likely with a new deal.