5 year Fixed Mortgage rates from 2.44% maybe its time to Remortgage to a fixed rate now
In recent years remortgages have not been as popular as they once were as rates have been so low, however both the Chancellor and Governor of the Bank of England have recently hinted that they will go going up so we think its a good time to Remortgage to a fixed rate.
So I have picked out a Remortgage to a fixed rate products that may interest you:
- Well known building society
- 2.44% fixed for 5 years (APR 3.4%)
- Up to 60% of the value of your property
- Free basic legal service
- Free basic valuation for mortgage purposes
- No lender arrangement fee
- Not open to customers with credit issues
Footnote: The APR in this example is based on a £200,000 mortgage.
Acceptable reasons for Remortgage to a fixed rate:
- Improve your rate
- Fixed your rate
- Raise money for home improvements or an extension
- Remove a partner from the title deeds
- Divorce settlement
- Pay school fees
- Consolidate personal loans or credit cards
- Buy a car or a holiday of a lifetime
The underwriting of a mortgage takes place at ‘application stage’, so if in the next few years you expect to: change job; take a career break; expand your family; take on personal commitments; then it could be even more pressing to fix your payments in as the status change might prevent you from obtaining future finance.
To check your eligibility for a Remortgage to a fixed rate and request a personalised illustration, please call us 020 7993 2044 or simply complete the online enquiry form.
Author: Payam Azadi
Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines.