2 year fixed rate remortgage regains popularity.

More borrowers are opting for a 2 year fixed rate remortgage.

For a time after last November’s rise in the base rate, the 5 year fixed rate remortgage overtook the 2 year fix as the most popular home financing solution.

This level of popularity was driven by speculation around further increases in the base rate plus higher than expected inflation. The level of uncertainty in the economy fueled the desire for security and, since the New Year, applications and approvals for 5 year fixes increased to record levels.

In response, lenders began to reduce the rates on their 2 year remortgages and borrowers have been attracted by the cheaper pricing.

But, how do you decide whether the 2 year or the 5 year is the best option for you? Which one safeguards your pocket best from future rate rises at the same time as giving you the most flexibility?

Consulting with a Deal Direct advisor can give you the clarity you need to make that decision.

We’ll assist you with fully reviewing your current mortgage and circumstances. We’ll then search the entire market for the most competitively priced option that is most suited to your borrowing requirements. We’ll also match you with a lender that has the same high standards as ourselves when it comes to customer service.

Make sure you secure the right remortgage option for you by consulting with Deal Direct.

We’re available to chat online or call us on 0800 048 8828 today.