Remortgage now to beat likely 2018 interest rate rise.
As the Bank of England’s monetary policy committee has hinted at an additional and sooner than expected rise in the base rate, the advice would be to remortgage now while record low-priced deals are still available.
Market analysts are predicting that as many as three further rises in the base rate could happen between now and 2021. As last November’s increase prompted lenders to increase their standard variable rates by 0.25%, the likelihood is that lenders will increase their pricing structures in anticipation of the BoE’s change in strategy.
However, at the moment, ultra-low rates continue to be available with lenders unveiling new historic lows on a regular basis. This could be because they wish to remain as competitive as possible while remortgage activity is at an all-time high.
If the BoE follow through with their plans, the next change to the base rate could be seen as soon as May this year. Therefore, if you wish to secure your mortgage repayment outgoings for the next 3, 5 or even 10 years, now is the time to act.
Deal Direct have over a decade’s experience in matching our clients with amazing remortgage deals. We can do this because we take the time to fully understand your financial situation and your mortgage goals. Set with this level of in-depth knowledge, we can serve you to the best of our ability by pairing you with a lender who meets your needs exactly.