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You are here: Home / Mortgages / Why its time to Remortgage to a fixed rate

by Payam Azadi

Why its time to Remortgage to a fixed rate

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.

Mortgages in london

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.

Payam Azadi

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. To get in contact with him please click here.

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Filed Under: Mortgages, Remortgage, Residential 5 year fixed Mortgage Tagged With: Remortgage

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AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

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Click here for our fees structure. A full detailed fee plan will accompany all our quotes.

Niche Advice Limited has a commercial arrangement under an affiliate programme with Check My File and is remunerated for referrals.

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If you wish to register a complaint, please write to us on the details below or call us on: 020 7993 2044.

Correspondence Address: Niche, Unit F6, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG.

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234567.

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