There has never been a better time to consider remortgaging… - November 27, 2016

Presently the Bank of England base rate is at a record low; the lowest it has been in the Bank’s three hundred year history in fact. Furthermore mortgage rates are about as low as they have ever, and are ever likely to be.

This time of year is a particularly good time to remortgage as a lot of lenders are currently trying to hit lending targets before the year end. Equally in the New Year a lot of lenders targets are ‘reset’ to zero and they have access to more funding than they do towards the end of the year and are keen to lend. With the weakened Stirling we have begun to see inflation rise, and whilst it fell slightly during October it is likely to rise again over the Christmas period. As per our blog post of 28th October it is quite possible that interest rates could begin to rise next year to control inflationary pressures, meaning that mortgage rates could well follow suit.

Nowadays a lot of mortgage products are valid for six months, and so if your remortgage is due at any time during the next six months you could secure a new competitive product now, in readiness for your remortgage in 2017. Moreover as part of our service we would review this product for you nearer to the time to ensure that it was still the right deal for you at that time. You may be on your Bank’s Standard Variable Rate (SVR) or on tracker mortgage, which believe it or not may not be the best deal available any longer.

At One 77 Mortgages a great many of our clients are currently fixing their own mortgage deal, purchasing investment property using savings, and even capital raising on their own home either for home improvements to enhance its value or for use as a deposit on an investment purchase. We can review your current arrangements to make sure that you are on the right mortgage deal for you and your circumstances without any charge or obligation on your part.

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