Number of remortgage approvals still increasing.
According to statistics published by the Bank of England, remortgage approvals are still on the rise with almost 50,000 completed in January this year.
Aware of the rise in the base rate and the prospect of further increases this year, more homeowners are taking the time to review their circumstances and their current mortgages and are switching to alternative deals.
The vast majority are taking the fixed rate route, securing their mortgage outgoings for 2, 3 or 5 years with an increasing number opting for longer-term products of 7 or even 10 years.
But, how do you determine which remortgage product is the right one for you?
The answer would be to consult with remortgage expert, Deal Direct to be sure you have:
- sourced the very best low rate deal from the entire UK market
- made the right decision as to which type of remortgage ideally suits your situation
Making the wrong decision could mean you pay more than you need to and that you won’t be able to do anything about it until the end of the term. This could add up to thousands of pounds, particularly if you opt for a longer term. This is why it is crucial you obtain qualified advice before you make your decision.