Already have a contractor mortgage? Remortgage to a better rate today.

If you have a tracker or standard variable rate contractor mortgage, you would be wise to consider a remortgage now before interest rates rise again.

The Bank of England recently hinted at an earlier than expected rise in the base rate this year, which could happen within the next two months. If this is the case, then mortgage lenders will be readjusting their pricing to accommodate the rise.


The first increase to the base rate in 10 years came last November; however, many lenders responded by trimming rates to new record lows. This will likely not continue, though, in the face of a further rise this year. At some point, mortgage providers will be passing on the increases to their customers and mortgages, including contractor mortgages, will become more expensive.

Other mortgage holders have already rushed to remortgage with many choosing the fixed rate option route. Opting to fix your repayments for the next 3, 5, 7 or even 10 years, means protecting yourself from further upward movement in interest rates for the duration of the term.

This can be very reassuring when the market is so uncertain.

Irrespective of the type of contractor mortgage you currently have, the sensible decision would be to contact Deal Direct and discuss your circumstances now. If you are in a position to remortgage, we can help you immediately with sourcing a new, low-rate deal.

We can also keep you up to date with new products as they emerge as well as rate changes as they happen. Discuss your requirements with a specialist from Deal Direct.

Call 0800 048 8828 now.    

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Article published: Monday, March 12, 2018
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