ARCHIVE: £35 billion worth of houses ready to remortgage by the end of October
Latest research by consumer data company, CACI shows that there are a large number of deals coming to the end of their fixed term this Autumn. And this means that, over the next couple of months, they are predicting a “remortgage frenzy”. This was reported on the Your Mortgage website.
What this means for home owners
Adam Nanson from Your Mortgage Expert comments:
“When a fixed term mortgage deal comes to an end, your provider will generally revert you to the Standard Variable rate. As we discussed on our website at the beginning of August, most people will find that this will result in them spending more money on their mortgage .
“We would therefore advise people to always look to setting up a new mortgage arrangement when their deal comes to an end. This might be with their existing provider or with a different company.
“With so many deals predicted to come to an end this Autumn, it means that the lenders are going to be busy, so we would advise you to start thinking about the process sooner, rather than later. As it might take slightly longer for the mortgage to complete.”
How Your Mortgage Expert can help
Adam Nanson continues:
“We believe that mortgage advisers, like us, have a really important role to play to helping people remortgage. We can research the whole market to find out which of the current deals available would be the most appropriate for you. We are also in regular contact with the lenders, which means we can help you better understand what the timescales might be in order to get your remortage completed.
“Some of the deals we have access to may only be available through independent mortgage advisers like us. And, if it doesn’t make financial sense for you to switch your mortgage deal, we’ll let you know. Or, if switching to a new deal with your existing provider is also appropriate, we can help facilitate that too.”
Your Mortgage Expert has produced a handy guide for remortgaging your property. Read their 5 top remortgage tips here.
To speak to Your Mortgage Expert about remortgaging your property, call them now on 01722 322683 or complete a Contact Us form and let them know when they can call you back.
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The information contained within this article was correct at the time of publication. It is intended for information only and should not be used as a basis for purchasing any products. We cannot be held responsible for something that was correct at the time but subsequently changes or goes out of date. For further information, contact Your Mortgage Expert on 01722 322683.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.
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