Need expert mortgage advice in 2017? Contact mortgage broker Deal Direct.
Our expert advisers at mortgage broker, Deal Direct, have seen significant changes to the mortgage market during the last year.
Rates have reached dramatic new lows, and lenders have competed fiercely with each other to offer the lowest rates and the best, all round deals.
Regulations have also been reviewed. Lenders were compelled to reduce risk for themselves and make sure they did not accept applications from people who could not afford to pay back the loan. May 2016 saw the introduction of strict affordability rules, but these presented a problem for some homeowners with existing loans.
The change in regulation meant they would fail the new tests in applying for a remortgage, or second charge. As a result, they found themselves stuck on their lender’s SVR, with no way of refinancing.
Deal Direct have advised many people who have found themselves in this position. After a full review of their circumstances, undertaken by one of our dedicated advisers, we demonstrated to the lender:
- The change would be of benefit to the homeowner.
- The size of the loan was not increasing.
In cases like these, the lenders could disregard some elements of the affordability rules. Homeowners were, therefore, able to switch to a better deal.
We have helped many UK home-owners to refinance and switch deals, but don’t just take our word for it. Read what our satisfied clients say about the service we provide.
For expert mortgage advice in 2017, contact the UK’s mortgage broker of choice.
Call Deal Direct on 0800 048 8828 today.
