Remortgaging may become difficult for interest only holders who don't act now.

Interest-only mortgage holders are being advised to consider remortgaging options now, in case they find themselves with nowhere else to go.

For the last few weeks details of how interest only mortgage deals are under threat has filled the news. Lending criteria changes could leave many existing interest only holders stuck with their deal unable to move.

For those who fear themselves in this predicament Deal Direct are on hand to offer remortgaging advice, we can help you find a deal so that you can move on.

Santander, Halifax, Lloyds TSB, Clydesdale Bank, Yorkshire Bank, Cheshire, Derbyshire, Dunfermline, Nationwide, Leeds, Building Society and Coventry have all restricted their interest only lending criteria.

To add to the woes of interest only borrowers, lifelines offered by NatWest, Skipton and RBS have also been withdrawn which could make it harder for those on interest only deals to switch to one of their products.

The Financial Services Authority is reviewing interest-only mortgages and in particular repayment vehicles accepted by lenders, therefore lenders are choosing to amend their policies now to avoid being caught out in the future.

Interest only mortgage holders need to act now and review remortgaging options through Deal Direct who will advise on the best options for a switch.

We are up to date on all interest only lending criteria changes and know which lenders are most likely to accept you for a new deal.

Not all lenders have amended their criteria. HSBC for example announced last week that they are still prepared to grant interest only mortgages up to a maximum 75 per cent LTV providing all their other mortgage criteria is met.

Contact Deal Direct today to compare all remortgages available.