Remortgaging to avoid becoming a mortgage prisoner.

With changes to mortgage rules many home-owners may find themselves facing the prospect of being stuck on their lender’s SVR. As rule changes may make it more difficult to switch, some may find they fall foul of stress tests.

So if you are looking to remortgage and want to avoid becoming a mortgage prisoner with your current lender, then seek professional advice.

Remortgaging maybe set to get tougher with the introduction of new stress tests, however there are things you can do to improve the outcome of your application.

Firstly, you can find out your credit rating, which is the first step in ensuring that you have done everything possible to improve how your finances look to a lender. If you have any blemishes on your credit report look into them, and apply to have them removed if the information held is inaccurate.

Prior to making your application don’t apply for extra credit, don’t go over drawn and don’t miss making credit card or other bill payments.

For advice on how to remortgage call us at Deal Direct. We can review your finances and remortgaging needs before searching the market for a new deal to switch to.

To discuss your remortgaging options in more detail, call one of our advisers on 0800 048 8828. We are available 24/7 to take your call and will be with you through every stage of the remortgaging process.

Telephone and speak to an adviser to avoid paying more for your home than you have to.

0800 048 8828.