Coming to the end of your fixed rate mortgage deal? Can I Remortgage?

Is your fixed rate mortgage deal about to expire? What are your options…?

It is estimated that around a quarter of Britain’s mortgage holders are sat on Standard Variable Rates which are commonly 3.5% or above. With mortgages rates at all-time lows and lenders fighting it out to gain market share, now may just be the time to start looking for a better deal. As well as offering the potential to save thousands of pounds a year, remortgaging could also give you the chance to secure some stability in the form of a fixed rate and lock-in a low interest rate whilst they’re available.

Can I Remortgage?

Remortgaging to another lender may not be possible for everyone, however, it costs nothing to find out. Assuming the existing lender is still active, switching onto a new deal is almost certainly an option that will provide a significant saving.

Although switching to another lender will mean going through going an application process, completing an internal switch can be done without the need for any affordability or credit checks and is generally a pain-free process. Please note that you may have to pay an early repayment charge to your existing lender if you re-mortgage however, these do not normally apply once an agreed deal has ended and the lenders Standard Variable Rate is applied.

As an independent Mortgage Broker, we search the market to find the best deals available for you and then manage the application through to completion. With over 40 years of industry experience, our team of mortgage consultants are perfectly placed to find you a new mortgage deal that could get your year off to the best possible start.

Speak to John, Nick or Graham on 01904 897 667 or get in touch through eboruk.com